The Adani Group has initiated a large-scale city side development project across eight of its airports in India, covering a total area of 655 acres. The project will be carried out in three phases, with the first phase covering 114 acres.
According to Jugeshinder Singh, Group Chief Financial Officer of Adani Enterprises Ltd, “We roughly have around 655 acres across eight airports including Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati, Bengaluru and Thiruvananthapuram. Our Phase-1 development will be across 114 acres of which roughly 40 per cent or 50 acres will be in Mumbai and Navi Mumbai and the rest 60 to 65 acres will be in other six airports.”
City side development refers to infrastructure projects located near the airport or terminal boundaries. These typically include the development of hotels, retail outlets, convention centres, commercial spaces, offices, food and beverage hubs, entertainment zones and associated utilities and connectivity services.
Adani Airport Holdings Ltd has already started Phase-1 development at these locations. Singh shared that Mumbai airport is currently the major operational asset in this segment. Other airports such as Ahmedabad, Jaipur, Guwahati, Lucknow and Navi Mumbai are at various stages of brownfield expansion. He added, “We expect that Navi Mumbai will have operational clearances around October this year. It will ramp up to its capacity within six months. It is also likely that the second terminal development there will commence shortly thereafter.”
While Singh did not disclose the capital expenditure planned for these developments, he explained that Phase-1 would focus on hotels, retail, entertainment and food courts aimed at the city side population. Phase-2 and Phase-3 will feature different rental and retail mixes, with broader commercial offerings.
During the first quarter of the financial year 2025 to 2026, the airports division reported a 25 per cent growth in income, reaching ₹10,224 crore. In the same period, Adani Airport Holdings Ltd served 23.4 million passengers, marking a three per cent increase, and handled 2.8 lakh tonnes of cargo, a four per cent rise.
As of June 2025, Adani Enterprises Ltd reported a total external consolidated debt of nearly ₹61,500 crore. This includes ₹30,900 crore in the airport segment, ₹14,600 crore in roads and ₹8,700 crore in its Australia project.
Adani Group also acknowledged ongoing global trade instability, which is expected to continue affecting pricing and profitability in its integrated resource management business.
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