Adani Group will invest Rs 1.2 lakh crore in financial year 2024-25
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New Delhi (Uttam Hindu News): In an effort to set the stage for the next phase of rapid growth, Adani Group has targeted an investment of about $ 14 billion (about Rs 1.2 lakh crore) in its companies in the next financial year (2024-25). .
Sources said the group will invest $14 billion in portfolios like green energy, airports, cement, commodities in the next financial year.
Adani Group founder and chairman Gautam Adani has already said he will invest an estimated $100 billion in the country’s green energy journey over the next 10 years, including plans to increase solar manufacturing capacity to 10 GW by 2027.
According to sources, the estimated capital expenditure for the financial year 2024-25 is 40 percent more than the estimate by the group companies for the financial year ending March 31.
More than 70 per cent of the capital expenditure will go towards green portfolio such as renewable energy and the rest will be used to build key infrastructure such as world-class airports.
The consolidated profit of the group companies recorded a record growth of 63.6 per cent in the third quarter ending December 2023 compared to a year earlier. As a result, the company’s profit before tax in calendar year 2023 stood at Rs 78,823 crore ($9.5 billion). This is two and a half times more than the financial year 2020-21 while it is 37.8 percent more than the financial year 2022-23.
The company said the group remains highly liquid with cash of Rs 44,572 crore ($5.4 billion) at the end of December 31, 2023.
The company had said in a statement that the core infrastructure platform has earned a pre-tax profit of Rs 66,208 crore (eight billion dollars) in the last 12 months, which is 35.4 percent more than a year earlier.
Domestic and international rating agencies including S&P Global and Moody’s have positively revised the outlook for all major Adani companies.
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