NEW DELHI: Adani Enterprises Ltd (AEL) announced that its subsidiary has established three new wholly-owned units focusing on hotel and real estate development, part of its airport city expansion strategy.
Adani Airport City Ltd, a wholly-owned step-down subsidiary, has formed Adani Navi Mumbai Airport City Ltd, Adani Guwahati Airport City Ltd, and Adani Ahmedabad Airport City Ltd.
The newly formed entities will engage in real estate operations, including construction and hospitality services such as integrated restaurants, banquet facilities, and business centers, according to a regulatory filing.
The subsidiaries “will be involved in real estate activities with owned or leased properties, building construction on their own account or through contracts, as well as hotels with integrated amenities,” the filing stated.
However, specifics regarding whether hotel construction will occur near operational airports were not provided.
Each subsidiary has been set up with a paid-up capital of ₹10 lakh and is fully owned by Adani Airport City Ltd.
Established in 2019, Adani Airport Holdings Limited is a wholly-owned subsidiary of AEL and has become the largest airport infrastructure company in India, managing eight airports that account for 25% of passenger traffic and 33% of air cargo volume. Airports managed include facilities in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.
Adani also holds a 73% stake in Mumbai International Airport Ltd, which owns 74% of Navi Mumbai International Airport Ltd.
Adani Airport City Ltd operates under Adani Airport Holdings Ltd.
The conglomerate has announced a $15 billion expansion plan for its Indian airports by 2030, targeting an increase in capacity to 200 million annual passengers.
The initiative, which supports the upcoming IPO of its airport unit, emphasizes the expansion of existing high-traffic airports, including those in Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow, and Guwahati. Recently, the Navi Mumbai airport was inaugurated, with an initial capacity of 20 million passengers.
The overall airport capacity is projected to grow by over 60%, preparing for an anticipated rise in air travel demand, which is expected to exceed 300 million passengers in India by 2030.
