Adani Enterprises, the flagship of the Adani Group, has unveiled plans to inject $21 billion (approximately Rs 1.75 lakh crore) into its airport business over the next decade. Managed by Adani Airport Holdings, a wholly owned subsidiary, the group currently oversees operations at seven major airports across India, including Mumbai, Lucknow, and Ahmedabad.
Jugeshinder Singh, the group’s CFO, outlined that the investment will primarily focus on city-side development across all airports under Adani’s purview. The aim is to significantly boost revenue from non-aero services, targeting a 75% share of overall revenue and operating profit. Currently, the ratio of aero to non-aero revenue stands at 75:25 across six airports, with Mumbai maintaining a 50:50 balance.
Phase I of city-side development has already commenced across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow, and Guwahati. The company’s strategic vision includes transforming India’s airport infrastructure landscape through enhanced consumer offerings, digital technology integration, and expanding regional footprints.
Adani Enterprises also highlighted its ongoing project, the Navi Mumbai International Airport, slated for completion by late 2024 or early 2025. Looking ahead, the company plans to independently list its airports business by 2028, aligning with its strategy of separating incubated ventures within Adani Enterprises.
Source: Times of India
