Adani Group Unveils New Airport City Subsidiaries
The Adani Group has announced a significant development that could have a substantial impact on its stock when markets open.
Three New Companies Created
- Adani Navi Mumbai Airport City Ltd
- Adani Guwahati Airport City Ltd
- Adani Ahmedabad Airport City Ltd
The new companies have been formed under Adani Airport City Ltd as part of the group’s airport city expansion strategy.
Focus on Real Estate and Hospitality
The new entities will focus on real estate development, construction, and hotel projects, including integrated facilities like restaurants, banquet halls, and business centers.
However, the company has not confirmed whether these developments will be located near airports.
Investment and Ownership
Each company has a paid-up capital of Rs 10 lakh and is fully owned by Adani Airport City Ltd, demonstrating a structured approach to expanding non-aeronautical revenue streams.
Adani Airport Holdings Sees Strong Growth
Adani Airport Holdings, established in 2019, is now India’s largest private airport infrastructure operator, handling 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, and also holds a 73% stake in Mumbai International Airport, which further owns 74% in Navi Mumbai International Airport.
Big Expansion Plans Ahead
The group has announced a USD 15 billion investment plan to expand its airport business by 2030, with the goal of increasing passenger handling capacity to 200 million.
The Navi Mumbai airport has recently started operations with an initial capacity of 20 million passengers, and 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.
Share Price Performance
Shares of Adani Enterprises are currently trading around Rs 2,224, with a 7.49% gain in the last 5 days and 14.83 percent in one month.
However, the stock has declined nearly 10 percent in six months and about 6% over one year.