GMR Infrastructure, the operator of Delhi and Hyderabad airports, is planning to monetise 137 acres of land around the two airports in 2018-2019, which is expected to give a further fillip to the airport business. The company is looking to divest 120 acres of land at Hyderabad International Airport (GHIAL) for developing a logistic park and another 17 acres is targeted for monetisation at the Delhi International Airport (DIAL). Company officials told analysts over a conference call recently that the price for GHIAL land could be in the range of Rs 1.6 crore per acre. At this price, the monetisation at Hyderabad airport land may fetch the company over Rs 190 crore. However, in a response to a query from FE, a GMR Group spokesperson said, \u201cGHIAL is evaluating at several proposals for developing a logistics park at the Airport City, Hyderabad. No deal has been closed as of yet and it would not be fair to speculate on any valuations or construct of any such projects.\u201d GMR has monetised 45 acres of land at the Delhi airport and if GMR manages to sell the remaining 205 acres of land at a price greater than the value at which it has sold 45 acres currently, it could result in further upsides for the company, analysts at Edelweiss Securities said. Similarly, monetisation of Hyderabad airport land and SEZ land at higher than expected valuations could result in a positive surprise, analysts noted. Meanwhile, operationally, the airports operated by the company have reported healthy growth in aeronautical and non-aeronautical revenues. At Delhi airport traffic grew by 15% for the three months of January-March 2018 and 14% for the year ended March 31, 2018, the company said in a statement. The non-aero revenue registered a growth of 18% for the year to Rs 1,800 crore. At Hyderabad airport revenue registered growth of 13% for the year to Rs 1,249 crore, the non-aero revenues grew by 12% to Rs 444 crore, while the profit for the year increased by a sharp 39% to Rs 603 crore. At Cebu airport, revenue for FY18 grew by 23% to Rs 315 crore, the non-aero revenues registered a growth of 33%, while the profit for the year increased by 24% to Rs 158 crore. Meanwhile, Madhu Terdal, chief financial officer, GMR Infrastructure, also told analysts that the company\u2019s plans of unlocking value in its airport business will enter a conclusive phase in the current financial year. He said the company is hopeful of reaching settlement with private equity investors and the arbitration process is expected to conclude soon, post which the stage will be set for unlocking value. However, a company spokesperson refused to comment. GMR has mentioned in the past that it intends to list the airports business. The dispute with private equity investors relates to the conversion of compulsorily convertible preference shares (CCPS) issued by GMR Airports (GAL) into equity shares, a subsidiary company around six years ago.