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  1. Adani Airport Holdings to double its capacity by 2040, earmarks ₹60,000 crore for next 10 years

Adani Airport Holdings to double its capacity by 2040, earmarks ₹60,000 crore for next 10 years

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2 min read • Updated: March 11, 2024, 5:47 PM

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Adani Airport Holdings, which handles some of India’s key domestic and international airports, aims to spend ₹60,000 crore on expanding operations over the next 10 years. Karan Adani, MD of Adani Ports and SEZ, shared the company’s expansion plans during the inauguration of the new airport terminal in Lucknow.

Adani group plans to double airport capacity by 2040

During the inauguration of a new airport terminal in Lucknow, the Managing Director of Adani Port and SEZ, announced expansion plans worth ₹60,000 crore over the next 10 years. Arun Bansal, the CEO of Adani Airport Holdings, provided insight into the company's future expansion endeavours while speaking with journalists at the event.

The expansion strategy aligns with the company's vision to double its capacity by 2040. Bansal mentioned that ₹30,000 crore would be allocated for airside developments over the next five years, with the remaining funds earmarked for cityside developments over the subsequent 5-10 years. Funding for the expansion plans will be sourced from the parent Adani Enterprises’ internal accruals, with no immediate plans for listing the airport business subsidiary.

Adani Airport Holdings currently manages nearly 80 million passengers across eight airports in Ahmedabad, Lucknow, Mumbai, Mangalore, Jaipur, Guwahati, and Thiruvananthapuram. Additionally, the company will operate the upcoming Navi Mumbai International Airport, expected to open in March 2025. It was built with an estimated cost of ₹18,000 crore.

While commenting on the international expansion of the business, Mr. Arun Bansal stated that the group will focus on participating in countries where there are greater opportunities in ports and transmission businesses.

In FY23, Adani Airport Holdings reported a revenue of ₹6,012 crore and an EBITDA of ₹1,728 crore. The company generated ₹2,577 crore from the Aeronautical segment & ₹2,725 crore from Non-Aeronautical segment for the year FY23.

Shares Adani Enterprises closed marginally lower (-0.51%) on Monday, while other Adani Group stocks closed slightly negative in the range of -0.1% to -0.5% on Monday.