1.1 Delhi International Airport Limited (“DIAL”) proposes to invite bids pursuant to its Request for Proposal (“RFP”) for selection of 1 (one) bidder or 1 (one) bidding consortium (comprising of a maximum of 3 (three) members) for undertaking and implementing hospitality development at the at Aerocity, New Delhi comprising aggregate gross built-up area of approximately 4.78 lakh square metres (5.14 million square feet), on a design, develop, finance, construct, operate, manage and maintain basis (“Hotel Assets”).

1.2 The Hotel Assets are located at the GMR Aerocity, New Delhi, at the heart of Delhi NCR with close proximity to both domestic and international terminals, with its magnificent and complete bouquet of leisure, business avenues and offerings. Boasting a sustainable, smart, and resilient infrastructure with premium office spaces, world-class hospitality, over 100 of world’s most exquisite F&B brands, and a vibrant urban environment, GMR Aerocity is not only a popular destination for the active and tasteful city dwellers, but it routinely gets a marquee mention in major travel itineraries for travellers coming to the National Capital.

1.3 The Hotel Assets site is currently accessible through an 8-lane central spine road with provision to further expand to 16 lanes, based on demand. The central spine is directly connected to NH8 and the northern access road, which provide excellent approach from different parts of Delhi and NCR. The Hotel Assets are also connected to the Dwarka Expressway and will have direct connectivity to the upcoming direct tunnel from the northern access road. Further, GMR Aerocity has excellent metro connectivity via the Airport Express Line (Orange Line) and upcoming lines, making it a key hub. The existing Orange Line directly connects GMR Aerocity to Terminal 3 of the airport and New Delhi Railway Station. The upcoming Golden Line (Magenta Line part of Phase IV) will further link Aerocity to Terminal 1, creating a multi-modal transit hub with additional connections from the planned Regional Rapid Transit System and an Automated People Mover to other airport terminals.

2.1 The details of the Hotel Assets, technical and financial eligibility criteria, grounds for disqualification and formats for submission of bids are set out in the RFP. The brief technical and financial eligibility criteria and certain grounds for disqualification are mentioned hereinbelow for immediate reference.

2.1.1. Technical Eligibility Criteria

To be eligible for the Hotel Assets, the applicant shall, either by itself and/or through its affiliate(s) demonstrate that, as on the date of submission of its bid, it has:

(I) developed and/or owned, a minimum of 1,500,000 square feet of built up area of real estate cumulatively in the last 5 (five) financial years (i.e., FY 2021–2022 to FY 2025–2026);

AND

(II) The applicant has,

a) owned (for a concurrent period of at least 1 (one) year); or b) developed; or c) operated & managed (for a concurrent period of at least 1 (one) year),

at least 250 (two hundred and fifty) hotel rooms collectively at not more than 2 (two) locations in the last 5 (five) financial years (i.e., FY 2021–2022 to FY 2025–2026).

2.1.2. Financial Eligibility Criteria

For demonstrating financial eligibility, the applicant shall, either by itself or through its affiliate(s), demonstrate that it has an annual turnover of INR 500,00,00,000 (Indian Rupees five hundred crores) in any of last 3 (three) financial years ending on March 31, 2025 (standalone/consolidated) together with a net worth of INR 1,000,00,00,000 (Indian Rupees one thousand crores) as on March 31, 2025 (standalone/consolidated). In the case of a single bidder, the aforesaid criteria may be demonstrated through itself or its affiliate(s). In the case of a consortium, the aforesaid criteria may be demonstrated through one consortium member only, either on its own or through its affiliate(s).

Provided that any applicant that is a private equity fund, real estate investment trust, venture capital fund, qualified institutional buyer, or any other similar fund, trust or entity. involved in the business of banking, insurance, lending or otherwise financing projects, must instead demonstrate that it has Minimum Available Capital for Investment (ACI) of INR 10,00,00,00,000 (Indian Rupees one thousand crores only) as of March 31, 2025.

2.1.3. Disqualifications

DIAL shall have the right, in its sole discretion, to disqualify any bidder/applicant on, inter alia, the following grounds, including if such bidder or its affiliate:

(a) a Bidder applying individually or a member of a bidding consortium, as the case may be, is also a member of another bidder;

(b) has participated as an advisor or consultant to DIAL in the preparation of any documents, design or technical specifications of the Hotel Assets;

(c) has a relationship with another bidder that puts either or both of them in a position to have access to each other’s information about, or to influence the bid of either or each other, or a bidder constitutes a ‘related party’ (as defined under Section 2(76) of the (Indian) Companies Act, 2013) or affiliate of another bidder;

(d) any two separate bidders or any constituent thereof, submitting a bid through a common affiliate;

(e) the technical bid and/ or financial bid being incomplete or not being in the prescribed manner/ format specified under this RFP;

(f) if: (a) any legal, financial or technical advisor or consultant of DIAL in relation to the Hotel Assets is engaged by the bidder, or any affiliate thereof, as the case may be, in any manner for matters related to the bid or the Hotel Assets; or (b) any legal, financial or technical advisor or consultant of another bidder is engaged by the bidder, or any affiliate thereof, as the case may be, in any manner for matters related to the bidding process or the Hotel Assets;

(g) any bid that is not accompanied by any supporting documents, annexures or attachments required to be submitted in accordance with the RFP;

(h) participation or submission by a bidder of more than 1 (one) bid. Any bidder who submits more than 1 (one) bid shall render the bid submitted by such bidder subject to rejection, at the option of DIAL;

(i) failure to comply or continue to comply with the requirements of the RFP and/or any project documents and/or the bid being non-responsive to the requirements of the RFP, or the bid being non-responsive to the requirements of the RFP including adherence to the timelines provided under this RFP;

(j) as part of the application for procurement or bid, has provided any document, undertaking, declaration or confirmation that is untrue, incomplete, inaccurate or not to the satisfaction of DIAL, or has made any misrepresentation in its application for procurement or bid, whether knowingly or unknowingly;

(k) if the bid is not signed, sealed and marked as stipulated in the RFP or does not contain all the information as requested in the RFP or by DIAL otherwise or is not in the formats specified in the RFP, DIAL may reject the Bid as non-responsive;

(l) if the bid not accompanied by a bid security and/or the successful bidder fails to enhance the bid security to the enhanced bid security in accordance with this RFP;

(m) as part of the bid, has provided any document, undertaking, declaration or confirmation that is untrue, incomplete, inaccurate or not to the satisfaction of DIAL, or has made any misrepresentation in its bid;

(n) any bid received after the bid submission deadline;

(o) non-receipt of original documents as required in terms of this RFP and/ or any project documents;

(p) if the bidder attempts to withdraw or modify the bid after the bid submission deadline, without the written approval and consent of DIAL;

(q) if the bidder does not agree to extend the bid security pursuant to event of extension of the bid validity period for any reason whatsoever;

(r) where any winding-up, insolvency, liquidation, dissolution or bankruptcy petition, whether voluntary or otherwise, has been admitted in a jurisdictional court or authority by or against the bidder or any affiliate thereof, as the case may be, or where the bidder or any affiliate thereof is declared a sick company;

(s) if the bidder does not submit the bid for the complete scope of the Hotel Assets or submits any conditional or qualified bid;

(t) attempts to influence or induce DIAL with respect to the eligibility criteria or the bidding process;

(u) is found to be indulged in any collusive practice or fraudulent practice or restrictive practice;

(v) in the last 5 (five) years, the bidder has in relation to any contract with DIAL / its affiliates: (a) failed to perform its obligations or been in breach of material terms of the contract or has rescinded or abandoned the contract; or (b) has committed any fraud, deceit or misrepresentation; or (c) has been expelled from any project or contract; or (d) been declared ineligible for any coercive practice or collusive practice or fraudulent practice or undesirable practice in any prior bid process;

(w) if a bidder (including, in each case, its promoters, directors, partners, beneficial owners, senior management, or any affiliates thereof) is, or has been, either directly or indirectly, involved in any pending litigation, or dispute in a court of law for breach of contract with DIAL and/or any of its affiliates;

(x) has been barred / blacklisted by the Central / State Government, or any entity controlled by the Central / State Government or by DIAL and/or its affiliates and/ or the Airport Authority of India, from participating in any project, and the bar subsists as on the bid submission deadline. In case the bidder is a foreign entity, such bidder or its affiliate shall not have been barred by the state or government or public authority in the state of incorporation of such foreign entity;

(y) non-receipt of original documents as required in terms of this RFP and/ or any project documents.

2.2 The details of the Hotel Assets and the bid process are laid out more particularly in the RFP and the project documents. To the extent that there is any conflict between this notice and the RFP or/and the project documents, the terms contained in the RFP or/and the project documents shall prevail.

2.3 To procure the RFP and other related project documents, the interested parties are required to submit an application in the prescribed format below along with a payment of non-refundable amount of INR 1,00,000 (Indian Rupees one lakh only) to DIAL (“Bid Document Fee”) by way of a demand draft only drawn in favour of Delhi International Airport Limited, payable at New Delhi towards the part of cost relating to the preparation of the RFP and other associated costs thereto and submit the following documents by email to dial.ald@gmrgroup.in latest by June 12, 2026:

(a) details of the payment of the Bid Document Fee;

(b) duly executed copy of the Confidentiality Undertaking and

(c) duly filled RFP Application Form on its letterhead .

2.4 Within 3 (three) Business Days of submission of the above-mentioned documents, DIAL, either through itself or its authorised agent, will review the details furnished by the interested party, to its satisfaction, and thereafter, provide a user name and password to such interested party to access the RFP and related Hotel Assets documents.

2.5 DIAL reserves the right to: (i) not release or furnish the RFP and the documents related thereto and / or any information contained therein to any/ all interested party without assigning any reasoning whatsoever; or (ii) withdraw/ suspend/ alter/ cancel/amend such RFP, including related documents or information; or (iii) reissue the RFP at any time in the future.

2.6 For any queries related to the RFP, please email at dial.ald@gmrgroup.in.

¹ “Affiliate” with respect to an entity means any person which, directly or indirectly, (a) Controls such entity, (b) is Controlled by such entity, or (c) is Controlled by the same person who, directly or indirectly, Controls such entity.

“Control” shall include (i) the right to appoint the majority of the directors, or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of their shareholding or management rights, or shareholders’ agreements, or voting agreements, or in any other manner; or (ii) the (direct and/or indirect) ownership of 50% (fifty percent) or more of the legal and beneficial interest or voting power thereof (directly and/or indirectly); and “Controlling” and “Controlled by” shall be construed accordingly. It is clarified that a fund manager shall be rendered in Control directly or through fund(s) managed by that fund manager;