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GMR To Sell Off Hyderabad Duty Free Retail At Airports

GMR group is has recently announced that it is planning to sell Hyderabad Duty Free Retail Ltd (HDFRL). GMR Hyderabad International Airport Ltd (GHIAL), owns and manages duty-free outlets at the International Airport in Hyderabad has reported this news and said that company is waiting for a potential buyer.

Hyderabad Duty Free HDF Logo

Hyderabad Duty Free

This airport has 3 retail stores in the International Terminal, with an area of two thousand five hundred square meters. Certain conditions and prerequisites have been laid down by the GMR Group, for the bidder.

These conditions state that the bidder should be operating duty-free outlets in at least two international airports, with one at an international airport in Asia and that their collective revenue should be a minimum of $50 million.

GMR Logo

GMR Logo

HDFRL is initially a joint venture company between Switzerland-based Nuance Group AG and Shoppers’ Stop Ltd. This 7-year contract of the GMR Group to run the outlets at Hyderabad Airport, recorded poor sales in 2010.

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