Adani Group
Good news has come from Adani Enterprises Limited (AEL), the flagship company of the group working in the energy sector, from the port led by Gautam Adani. The company’s revenue is expected to grow at the rate of 17.5 percent on an annual basis to Rs 1,56,343 crore during the financial year 2023-24 to 2026-27. During this period, the company’s net profit may increase at the rate of 45.8 percent annually. This information has been given in a report. Ventura Securities said in a report that AEL is one of the largest listed incubators in India. It has conceived, developed and matured many successful businesses. These include port company Adani Ports & SEZ, city gas distributor Adani Total Gas, power transmission company Adani Energy Solutions, renewable energy company Adani Green Energy, Adani Power and commodity company Adani Wilmar.
Business has spread in these sectors
The company is engaged in airports, solar modules and wind turbines, green hydrogen, road construction, data centers and copper sectors. AEL, the incubator of several successful industry-leading businesses, is reportedly ambitiously diversifying into green hydrogen and its ecosystem to drive future growth. The report said that despite the volatility in the stock market following the US Department of Justice (US-DOJ) notice (on bribery charges) in November 2024, AEL has performed well in FY 2024-25 driven by strong fundamentals and operating base. Have done. It has received the contract from SECI under the SITE scheme for a 101.5 MW per annum electrolyzer manufacturing facility.
Dharavi Redevelopment Project changed its name
Adani Group-backed Dharavi Redevelopment Project Pvt Ltd (DRPPL) has said it is changing its name in line with its promise of building a modern, inclusive and vibrant community. The company is working on an ambitious plan to renovate the slums of Dharavi. DRPPL will now be known as Navbharat Mega Developers Private Limited (NMDPL), the company said in a statement. According to the statement, the name Navbharat Mega Developers is based on the company’s commitment to growth, change and hope and the branding exercise. For this, the approval of the Board of Directors and the Ministry of Corporate Affairs has been received. Adani Group holds 80 percent stake in Dharavi Redevelopment Project Pvt. Ltd., while the remaining stake is with the state government. The shareholding in the newly named company will remain unchanged.
Plan to develop 620 acres of land
Adani plans to convert 620 acres of prime land into a luxurious urban hub. This land is approximately three-fourth the size of New York’s Central Park. The company said the name Navbharat reflects the immense potential this project holds in shaping a better tomorrow. The company also said that the change in name will not change the role of the government or the basic objective of the project.
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