Adani Enterprises, a core company of India’s Adani Group, said on April 18 that its wholly owned unit Adani Airport City has set up three subsidiaries to handle hotel and real estate development.
Effective April 6, it established Adani Navi Mumbai Airport City, Adani Guwahati Airport City and Adani Ahmedabad Airport City. Each has paid-in capital of 1 million rupees (about 1.7 million yen). The companies plan to pursue real estate business using owned or leased properties, real estate construction, and hotel operations that include restaurants, banquet halls and business hubs.
The Adani Group operates airports through its Adani Airport Holdings (AAHL). AAHL won operating rights for six airports in India and took over those concessions in fiscal 2020/21 (April 2020 to March 2021) and fiscal 2021/22.
AAHL also acquired more than a 70% stake in Mumbai International Airport Ltd. (MIAL), which operates Chhatrapati Shivaji Maharaj International Airport (CSMIA), also known as Mumbai airport, from infrastructure conglomerate GVK Group and others. It also holds management control of Navi Mumbai International Airport Ltd. (NMIAL), a MIAL unit that operates Navi Mumbai International Airport (NMIA).
* This article has been translated by AI.
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