The Adani Group is planning capital expenditure of ₹1.3 lakh crore for the financial year 2024-25, Jugeshinder Singh, chief financial officer, Adani Group said on Tuesday. This is almost double the capital expenditure in 2023-24. Of the total capex for 2024-25, 85 percent of it will be in the airport business and for Adani New Industries.

Singh also said that Adani Enterprises will list the airport business in the financial year 2028. Adani Airport Holdings Ltd currently manages seven airports.

This comes a day after Adani Group Chairman Gautam Adani said the group was well-positioned” to continue the economic and social programmes that have taken the company on a “spectacular journey” in the last 10 years.

“This year will largely be an asset completion year. The Navi Mumbai airport will be completed and will be handed over by this year or early next year,” Singh said adding that smaller aircrafts like Cessna has started landing at Navi Mumbai as part of the “testing process. 

The capital expenditure for 2023-24 for Adani Group was ₹70,000 crore, which included completed assets of ₹57,000 crore. While addressing media persons at Adani Shantigram in Ahmedabad, Tuesday, Singh also said that the Group subsidiary Adani Green will spend an estimated ₹34,000 crore to add 6-7 Gigawatt (GW) in the current financial year, including capacities at Khavda in Gujarat. 

At the group level, Adani is also planning to raise $2-3 billion in equity during this financial year. The Group had already expressed its intent to invest $50 billion in 10 years in Adani New Industries which included a three million tonne hydrogen project.

At a recent meeting with analysts at Jefferies, Adani group said it is planning to make investments of the order of $100 billion in the next decade across its businesses to scale up capacities, with a major portion of the outlays on energy transition projects, green energy components and digital infrastructure.

The flagship and incubating company Adani Enterprises will be gradually rolling out the green hydrogen ecosystem, which will be the group’s most capex-heavy venture. A test facility is also being set up and for the first 20 GW of green hydrogen production it has already identified land in Kutch. The company is also planning to bid for more airports under the central government’s airport privatisation plan.

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