Adani Airports vertical listing in near future after achieving certain triggers, says Jeet Adani

Hyderabad:  Adani Group may list its airports vertical on the bourses after it achieves a couple of triggers, said Jeet Adani, vice-president, of Adani Enterprises Ltd and son of billionaire industrialist Gautam Adani, on Wednesday.

Speaking to reporters on the sidelines of a programme here, Adani said that all the airports in the company's fold are currently expanding in terms of capacity and have collectively registered 80 million passengers last year.

"In the near future, yes (on listing of airports vertical). It depends. We have a couple of triggers that we need to cross before we will do that. The first big one is obviously Navi Mumbai (airport) being operationalised and having its first stable year of operations. But that is one of the triggers," Jeet Adani said, replying to a query about when the airport vertical will be listed.

Adani Airport Holdings Limited (AAHL), a 100 per cent subsidiary of Adani Enterprises Ltd, currently manages seven airports- Mangaluru, Lucknow, Ahmedabad, Guwahati, Jaipur, Thiruvananthapuram and Mumbai.

It also holds a 73 per cent stake in Mumbai International Airport Ltd, which, in turn, has a 74 per cent holding in the Navi Mumbai International Airport Ltd.

With eight airports in its management and development portfolio, AAHL is India's largest airport infrastructure company, accounting for 25 per cent of passenger footfalls and 33 per cent of India’s air cargo traffic.

Adani said that their model is such that every business is able to demonstrate growth independently, before listing.

Without disclosing growth projections, he said the total air traffic numbers of all airports are already above the pre-Covid level.

He said the AAHL is in the process of opening new terminals in Lucknow and Guwahati airports and that in Navi Mumbai will be completed by the end of this year.

Besides this, expansion projects are underway in Ahmedabad, Jaipur and Mangaluru, Adani said.

Jeet Adani was in Hyderabad to participate in the unveiling of the indigenously manufactured Drishti 10 Starliner Unmanned Aerial Vehicle (UAV) made by Adani Defence and Aerospace for the Indian Navy.