Adani Realty Eyes Stake in Emaar India: A Strategic Move to Expand Presence in Indian Real Estate Market
Adani Realty, led by business tycoon Gautam Adani, is in talks to acquire a stake in Emaar India, a leading player in the country's commercial and residential real estate market.
Adani RealtyEmaar IndiaIndian Real Estate MarketStake SaleAdani GroupReal EstateSep 26, 2024
According to sources, senior executives from Adani Realty are holding meetings with Emaar management at Dubai. The talks are at an early stage, and the contours of a possible transaction are being discussed. While the amount of stake to be picked up by the Adani Group is not certain, the two entities are currently exploring the possibility of a stake sale.
Emaar India is owned by its global parent Emaar Group, a leading real estate developer headquartered in Dubai, UAE. Adani Realty, which started its journey 12 years ago, has a significant presence in the Dubai real estate market. The company has recently entered the Delhi-NCR region, India's second-largest real estate market.
The upcoming Dharavi redevelopment project is one of Adani Realty's first large-scale projects in India. The company's segmental revenues are not publicly disclosed, but it is learnt that a large chunk of its business is in the Dubai real estate market.
Gurgaon-headquartered Emaar India is a leading player in the country's commercial and residential real estate market. The company plans to launch 8-10 million square-feet of real estate projects this year, investing close to a billion US dollars (Rs 8,400 crore at current rate) till 2029. Eighty per cent of the new projects will be in Gurgaon.
In its annual report, Emaar India Ltd. reported a 31.4 per cent decline in operating revenue in FY2023 to Rs 1,670 crore. The company's net profit also took a hit, posting a Rs 118.7 crore net loss in FY2023, down from Rs 189 crore net profit in FY2022.
The proposed stake sale is seen as a strategic move by Adani Realty to expand its presence in the Indian real estate market. With Emaar India's strong presence in the commercial and residential real estate market, the deal could provide Adani Realty with a significant boost in the sector.
However, the deal is still in the early stages, and there is no certainty on the amount of stake to be picked up by the Adani Group. Emails sent to Adani Group and calls and messages to Emaar India top management remained unanswered.
Adani Group is a diversified business conglomerate with interests in energy, resources, logistics, and real estate. The group is led by business tycoon Gautam Adani.
Emaar Group is a leading real estate developer headquartered in Dubai, UAE. The company has a significant presence in the global real estate market, with operations in the Middle East, North Africa, and South Asia.
Frequently Asked Questions
What is Adani Realty's plan with regards to Emaar India?
Adani Realty is in talks to acquire a stake in Emaar India, a leading player in the Indian real estate market.
What is the current status of the talks between Adani Realty and Emaar India?
The talks are at an early stage, and the contours of a possible transaction are being discussed.
What is the significance of the proposed stake sale for Adani Realty?
The proposed stake sale is seen as a strategic move by Adani Realty to expand its presence in the Indian real estate market.
What is Emaar India's current financial situation?
Emaar India Ltd. reported a 31.4 per cent decline in operating revenue in FY2023 to Rs 1,670 crore and a net loss of Rs 118.7 crore.
What is the expected investment by Emaar India in the real estate market?
Emaar India plans to launch 8-10 million square-feet of real estate projects this year, investing close to a billion US dollars (Rs 8,400 crore at current rate) till 2029.
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