Adani Airport Holdings Limited has recently established a new UAE-based subsidiary Celeritas International FZCO in the Jebel Ali Free Zone. This was done with a share capital of AED 1,00,000. Adani Airport also has elaborate plans to invest 21 billion USD over the next 10 years. Adani Enterprises’ net profit also increased by 116 % year-on-year in the first quarter of 2024. This indicates a 12% rise in revenue. This has given the Adani Group’s business profitability a boost. The allegations of the Adani Case have also subsided.
The Incorporation Of Celeritas International FZCO in the UAE:
Adani Airport Holdings Limited which happens to be a wholly owned subsidiary of Adani Enterprises, the flagship company of the Adani Group has recently mentioned that it has incorporated a new entity named Celeritas International FZCO in the UAE. This was done for an authorised and paid-up share capital of AED 100,000 to operate in the Jebel Ali Free Zone. It has not yet begun its business activity. With this step, the Adani Group has further extended its hold over the international airport sector. It has also been able to rise above the controversies of the Adani Case.
Adani Airport Holdings currently holds a 74% stake in Celeritas. There are no related party transactions involved in this acquisition. Recently, April Moon Retail Private Limited which happens to be a joint venture of Adani Airport Holdings Limited has taken up the decision to acquire 74% stakes in Cococart Ventures Private Limited. This is going to be done for INR 200 crore. Adani Enterprises is responsible for operating the Adani Group’s airport, road, and data centre business among others. The company has already planned a capex of INR 80,000 crore for the present fiscal year. Of this, INR 50,000 crore will be allocated for the company’s airport business and Adani New Industries.
Adani Group’s Airport Business:
Adani Airport currently has 7 operational airports under its control. It is also in the process of constructing the Navi Mumbai International Airport. The company has outlined an investment of 21 billion USD over the next decade as per the group’s Chief Financial Officer, Jugeshinder Singh. The group has been in the airport business since 2019. It is also currently the largest private airport operator in India. The Adani Group’s flagship company, Adani Enterprises, has experienced a consolidated net profit change of 116 % year-on-year to INR 1,456 crore in the first quarter which ended in June 2024. The same is against INR 674 crore in the year-ago period.
The company’s revenue generation from its airport business has increased drastically over the past few years. This has given the company enhanced control over the airport sector. The business group is also currently focused on bringing international airports under its control. This will further strengthen its hold on the international airport sector. The group will also find it easier to take its business to new heights. The conglomerate will easily be able to recover from the losses it incurred when the Adani Case was ongoing. It will also be able to bring about better synergies in its business.
Over the past few years, the Adani Group has also made some extraordinary developments in the airport sector. It has ensured that the various airports which are under its control experience extraordinary growth and development. The business group has also automated the various operations at the airport. This has further improved the experience for the users to a considerable extent. The global business group has also been a part of a lot of expansions and renovation activities. It has taken up various mergers and acquisitions in the airport sector. This has further given its operations an extraordinary boost. The global business has also been able to take its business to extraordinary heights.
Conclusion:
With the incorporation of Celeritas International FZCO in the UAE, the Adani Group has been able to set new benchmarks for its airport business. The group has succeeded in winning back the trust of the investors post the controversies of the Adani Case. The business group has also been able to achieve excellent prosperity from its business.
