Adani airport-cities in Navi Mumbai, Guwahati, Ahmedabad on the way
What's the story
Adani Enterprises Ltd (AEL) has announced the incorporation of three wholly-owned subsidiaries under its step-down unit, Adani Airport City Ltd. The new entities, named Adani Navi Mumbai Airport City Ltd, Adani Guwahati Airport City Ltd, and Adani Ahmedabad Airport City Ltd, will focus on hotel and real estate development as part of AEL's airport city expansion strategy.
Business activities
New subsidiaries to focus on real estate, hospitality
The newly formed subsidiaries will engage in a range of real estate activities, including construction. They will also develop hotels with integrated restaurants, banquets, as well as business centers. Each subsidiary has been incorporated with a paid-up capital of ₹10 lakh and is fully owned by Adani Airport City Ltd. However, the company did not clarify if these plans included building hotels near the airports it operates.
Company profile
Adani Airport Holdings Limited's operations
Incorporated in 2019 as a wholly-owned subsidiary of AEL, Adani Airport Holdings Limited is now India's largest airport infrastructure company. It manages airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. The company also holds a 73% stake in Mumbai International Airport Ltd which owns 74% of Navi Mumbai International Airport Ltd.
Expansion strategy
$15B expansion plan for Indian airport portfolio by 2030
The Adani Group has announced a $15 billion expansion plan for its Indian airport portfolio by 2030. The strategy aims to increase capacity to 200 million annual passengers and focuses on expanding existing high-traffic airports such as Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow, and Guwahati. The group recently inaugurated the Navi Mumbai airport with an initial capacity of handling 20 million passengers.