JM Financial sees profitability ahead for India's GMR Airports; starts with 'buy'

Brokerage JM Financial initiates coverage on India's GMR Airports GMRI.NS with "Buy" rating; sets PT at 120 rupees

Shares of GMRI up nearly 1% to 102 rupees

Says co could witness positive PAT and strong growth in profitability over FY26-28 as it exits a capex-intensive phase

Sees co benefitting from Indian consumers' rising affluence and increasing air travel

Adds co has its presence in two of the critical airports Delhi and Hyderabad

Says GMRI only listed entity at present, and benefits from investor interest in this space till other
entities list on the stock exchanges

GMRI rated "Strong buy" on avg by 7 analysts covering it; median PT at 115 rupees - data compiled by LSEG

YTD, GMRI up 30%