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Adani in talks to grab stake in Emaar India

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January 15, 2025

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The Adani Group is reportedly in advanced discussions with Dubai-based Emaar Properties to acquire a majority stake in Emaar India, its Indian subsidiary. The deal, estimated to be valued between ₹4,000 crore and ₹5,000 crore, is expected to involve the purchase of 70-100% of Emaar India’s shares, primarily through Adani Realty, an unlisted entity within the Adani Group. Sources indicate that the final valuation could reach ₹5,000 crore, though negotiations are ongoing, as reported by Mint.

If finalized, this acquisition will represent the Adani Group’s largest venture into the real estate sector, adding to its series of significant acquisitions. Emaar India, which separated from MGF Developments in 2016, has built a robust portfolio of residential and commercial projects in key cities like Delhi-NCR, Mohali, Lucknow, Indore and Jaipur.

The company’s noteworthy developments include projects such as Emaar Emerald Hills, Emaar Digi Homes, and Emaar Business District 83. In November, it launched the luxury residential project Amaris in Gurugram, investing ₹1,000 crore. For FY24, Emaar India reported a total income of ₹2,756.6 crore, a sharp rise from ₹1,765.8 crore in the previous fiscal year.

Adani Realty, the real estate arm of the Adani Group led by billionaire Gautam Adani, has been expanding its footprint aggressively. With over 200 million square feet of development space, it has projects across Mumbai, Pune, Ahmedabad, and Delhi-NCR. Its high-profile ventures include the controversial Dharavi slum redevelopment project and various luxury developments in Mumbai.

The group’s Northern India expansion plans are evident in its ongoing talks with the Jaypee Group to acquire real estate assets linked to India’s largest bankruptcy resolution case.

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