Adani Group's listed entities' valuation crossed $100 bn in first week of FY22: Gautam Adani

MUMBAI: The market capitalisation of Adani Group's listed entities crossed $100 billion in the first week of FY22, the conglomerate's chairman said in its annual shareholders' meeting.

"The performance of our listed entities propelled our portfolio to cross 100 billion dollars in market capitalisation in the very first week of this new financial year. This valuation milestone is a first for a first-generation Indian company," Gautam Adani said in his speech.

"For the Financial Year 2021, the consolidated EBITDA (or Earnings Before Interest, Taxes, Depreciation and Amortization) for our listed portfolio was over Rs 32,000 crore, registering a year-on-year growth of 22%. All stocks generated returns over 100% – and our businesses ensured that we returned close to Rs 9,500 crore to you, our equity shareholders. This is a 166% increase in Profit After Tax on a year-on-year basis," he added.

During FY21, Adani Ports & SEZ's share of India’s port-based cargo business rose to 25% and the container segment market share grew to 41%, he added. On the airports business, he said the company has taken over operations of airports in Ahmedabad, Lucknow and Mangalore, and signed concession agreements for Guwahati, Jaipur & Thiruvananthapuram. The group has won privatisation contracts for these airports.

Adani is also in the process of acquiring a controlling stake in Mumbai International Airport (MIAL) the GVK-run consortium that runs the city's airport and has won the contract to set a second one worth Rs 16,000 crore.