Adani Group Expands with Three New Airport City Companies, Shares at ₹2,224
Mumbai: Adani Group has announced a significant development that could impact its stock when markets open. Its flagship company, Adani Enterprises, through its step-down unit, has set up three new wholly owned subsidiaries.
The new companies are: - Adani Navi Mumbai Airport City Ltd - Adani Guwahati Airport City Ltd - Adani Ahmedabad Airport City Ltd
These companies have been formed under Adani Airport City Ltd as part of the group’s airport city expansion strategy.
The new entities will focus on real estate development, construction, and hotel projects. Plans include integrated facilities like restaurants, banquet halls, and business centers. However, the company has not confirmed whether these developments will be located near airports.
Each company has a paid-up capital of Rs 10 lakh and is fully owned by Adani Airport City Ltd. This shows a structured approach to expanding non-aeronautical revenue streams.
Adani Airport Holdings, established in 2019, is now India’s largest private airport infrastructure operator. It handles about 25% of the country’s passenger traffic and 33 percent of air cargo. It operates airports in cities like Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. It also holds a 73% stake in Mumbai International Airport, which further owns 74% in Navi Mumbai International Airport.
The group has announced a USD 15 billion investment plan to expand its airport business by 2030. The goal is to increase passenger handling capacity to 200 million. The Navi Mumbai airport has recently started operations with an initial capacity of 20 million passengers. The company aims to increase overall capacity by more than 60 percent, as India’s air passenger traffic is expected to cross 300 million by 2030.
Shares of Adani Enterprises are currently trading around Rs 2,224. The stock has gained 7.49% in the last 5 days and 14.83 percent in one month. However, it is down nearly 10 percent in six months and about 6% over one year.
