Adani Group in advanced talks to acquire Emaar India for up to Rs 5,000 cr
Mumbai: The Adani Group is reportedly in advanced discussions with Dubai-based Emaar Properties to acquire a majority stake in its Indian subsidiary, Emaar India, for an estimated Rs 4,000-5,000 crore.
According to sources, the potential deal may involve acquiring between 70% and 100% ownership of Emaar India, with the transaction expected to be carried out through Adani Realty, the unlisted real estate arm of the Adani Group.
The valuation is still under negotiation, with the final figure possibly reaching Rs 5,000 crore, as reported by Mint.
If completed, this acquisition would be the Adani Group’s largest investment in the real estate sector, building on its series of acquisitions in recent years.
Emaar India, which separated from MGF Developments Ltd in 2016, has developed a diverse portfolio of residential and commercial properties in key cities, including Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur.
Its notable projects include Emaar Emerald Hills, Emaar Digi Homes, and Emaar Business District 83.
In November, Emaar India launched Amaris, a luxury residential project in Gurugram, with an investment of Rs 1,000 crore.
The company reported a total income of Rs 2,756.6 crore in FY24, a significant increase from Rs 1,765.8 crore in the previous fiscal year.
Adani Realty, led by billionaire Gautam Adani, has been expanding aggressively in the real estate sector, with projects spanning over 200 million sq. ft. in cities such as Mumbai, Pune, Ahmedabad, and Delhi-NCR.
Notable undertakings include the controversial Dharavi slum redevelopment project and high-end developments in Mumbai.
The group is also extending its footprint in Northern India and is reportedly in discussions with the Jaypee Group to acquire real estate assets as part of India’s largest bankruptcy resolution case.
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