Rajiv Gandhi International Airport Expansion Nears Completion

The expansion works at the Rajiv Gandhi International Airport (RGIA) in Hyderabad are on the verge of completion with almost 98.7 percent progress done as of December 31, 2023, says the GMR Airports Infrastructure Limited's Q3FY24 report. The extension work, intended to enhance the capacity from 12 million to 34 million passengers, has further increased to 99.4 percent as of January 25, 2024. The report further states that Hyderabad airport's expansion work is likely to be over by March 2024.

A strong performance of RGIA was witnessed in terms of passenger traffic during the period from October to december 2023, suggests the Q3FY24 report. The traffic increased by a margin of 17 percent y-o-y to 6.3 million. It rose from 5.4 million in Q3FY23. Also, domestic traffic upsurged by 16% while the overseas traffic shot up by 22% during Q3FY24, driving the growth.

Infact, in the first nine months of FY24 the airport was able to serve 18.6 million passengers, registering a mind boggling year-on-year increase. The total income generated by Rajiv Gandhi International Airport Hyderabad in Q3FY24 is Rs 496 crore, up 35% YoY from Rs 368 crore in Q3FY23. Consequently, the total income rose by 48% to Rs 1,472 crore in 9MFY24 over nine months.

Moreover, RGIA has immensely increased its connection, presently linking 66 domestic locations (compared to 55 pre-covid period) along with 19 foreign destinations (compared to 16 pre-covid period).