Adani Group Eyes Mumbai Airport Stake, Plans ₹60,000 Crore Airport Investment

12 Mar 2024 , 12:06 PM

Karan Adani, MD of Adani Ports and Special Economic Zone (APSEZ), announced that the Adani group intends to bid for the Airports Authority of India’s (AAI’s) stake in the Mumbai airport.

Adani clarified that the group has no interest in bidding for AAI’s residual shares in Delhi, Bengaluru, and Hyderabad airports. The strategy involves bidding for AAI’s stake only if it provides a controlling stake, with Mumbai being the sole focus.

AAI holds a 26% stake in joint ventures for Delhi and Mumbai airports and a 13% stake in JVs for Hyderabad and Bengaluru airports.

Adani group currently operates airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. The conglomerate plans to invest ₹60,000 Crore in the next 5-10 years in its airports.

Half of the investment will go into terminal and runway capacity over 5 years, while the remaining amount will be allocated for city-side development over 10 years.

Adani Airports Holdings (AAHL) CEO Arun Bansal mentioned that Adani Enterprises Ltd (AEL) will support the investment through internal accruals.

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