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Adani Enterprises forays into real estate business


Adani Enterprises forays into real estate business

Last updated: October 6 2007
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  • Adani Enterprises forays into real estate business

    Friday, October 5, 2007
    NDTV Profit

    Adani Enterprises is on the move with new ideas and in areas completely different from its present business of trading in metals, agricultural commodities.

    The company is planning to foray into infrastructure development, real estate, power generation and mining in a big way.

    According to sources Adani Enterprises is considering IPO for its power and real estate business. The company is also planning to invest $2.5 billion over the next few years.

    It is also in talks with private equity players to offload part equity in its subsidiaries. The company management says that they do not have any immediate plans for IPO but they may consider it some time later. However it has lined up huge expansion plans for its various businesses.

    Sources also say that Adani Enterprises is eyeing a power generation capacity of 6,000 mw by 2012. It is also scouting additional coalmines in India, Australia, Indonesia and is planning to increase real estate development in Gujarat, Mumbai.

    The company is planning to install 4,000 mw power plants and 28 million square feet real estate development. Analysts say that with the changing business structure it is well poised for re-rating.
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