Under its plan to expand its realty business, billionaire Gautam Adani’s group is likely to acquire real estate company Emaar India for an enterprise value of around USD 1.4-1.5 billion, sources privy to the deliberations said on Thursday.
After entering the Indian real estate market in 2005 in partnership with India’s MGF Development, Dubai-based Emaar Properties had invested Rs 8,500 crore through the joint venture firm Emaar MGF Land.
Adani Energy bags Rs 2,800 cr power transmission project in Gujarat
Meanwhile, Adani Energy Solutions Ltd (AESL) on Friday said it has bagged a Rs 2,800 crore power transmission project in Gujarat.
The project will supply green electrons for manufacturing of Green Hydrogen and Green Ammonia at Mundra in Gujarat, AESL said in an exchange filing.
For the company, this is its sixth order win this fiscal year, taking its order book to Rs 57,561 crore, the company said.
This project "Transmission System for Green Hydrogen/Ammonia Manufacturing Potential in Mundra, Gujarat" involves upgrading the Navinal (Mundra) electrical substation by adding two large 765/400kV (kilovolt) transformers.
Additionally, a 75 km long 765kV double-circuit line will be constructed to connect this substation to the Bhuj substation.
The project will see the addition of 150 cKM (circuit kilometer) of transmission lines and 3,000 MVA (megavolt-amperes) of transformation capacity to AESL's overall transmission infrastructure, taking them to 25,928 cKM and 87,186 MVA, respectively.
Also read: Proud moment: PM hails India’s 1 bn tonnes coal production
AESL won the project under the Tariff-Based Competitive Bidding (TBCB) mechanism and PFC Consulting Ltd was the bid process coordinator.
The project SPV was formally transferred to AESL on March 20, 2025.
AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.
It is the country's largest private transmission company with a cumulative transmission network of 25,928 ckm and 87,186 MVA transformation capacity.
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