GMR Airports Limited (GAL) will increase its stake in GMR Hyderabad International Airport Limited (GHIAL) by acquiring a 11 per cent stake from Malaysia Airports Holding Berhad (MAHB) for approximately $100 million (about Rs 831 crore), it is learnt. This will take GAL’s stake in Hyderabad airport operator GHIAL to 74 per cent. Currently, GAL owns a 63 per cent stake in GHIAL. The transaction, subject to the customary closing conditions, is expected to be concluded within a maximum of 135 days from the date of execution of the said share purchase agreement. GHIAL recorded a net profit of Rs 32.99 crore for 2022-23, against a net loss of Rs 108.1 crore in 2021-22. During 2022-23, Hyderabad airport handled 21 million passengers, 160,597 air traffic movements and 142,338 metric tonnes of cargo, said a report.
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