Adani Group to raise capex to $15.6 bln in fiscal 2025

Indian ports-to-power conglomerate Adani Group will increase capital expenditures in fiscal year 2025 to 1.3 trillion rupees ($15.6 billion) from 700 billion rupees a year earlier, Chief Financial Officer Jugeshinder Singh said.

Adani Green Energy, the renewable energy arm of the group, will spend 340 billion rupees to add 6 gigawatts of capacity, Singh told reporters at a media briefing in Ahmedabad in Gujarat state.

The comments came a day after billionaire owner Gautam Adani told investors the group is “well positioned” to capitalize on opportunities in the country’s booming infrastructure sector.

The group, which has businesses across ports, power utilities, transmission, and coal trading, is betting on infrastructure spending, which is expected to grow at a compounded annual growth rate of 20 percent-25 percent, Adani said on Monday.

On Tuesday, Singh denied reports that the group was planning to take a stake in the payments firm Paytm but said it would “evaluate any opportunities” in the fintech space.