Mumbai: Adani Group has moved beyond concerns over funding and is now focused on executing projects and building assets at scale, chairman Gautam Adani said in his annual letter to shareholders.
"For us, the era of capital scarcity is over. Our challenge has evolved from 'how do we fund it?' to 'how fast can we build it?'," Adani wrote.
The conglomerate invested more than ₹1.5 lakh crore in FY26, up from about ₹1.27 lakh crore a year earlier, as it bets on infrastructure and AI-linked demand to drive its next phase of growth across airports, energy, data centres and logistics.
Adani Enterprises, the group's flagship incubator, plans to sustain investments across its infrastructure and industrial portfolio. On its post-earnings call, the company management guided for capital expenditure of about ₹40,000 crore in FY27.
Airports are expected to account for roughly ₹17,000 crore of the outlay, followed by about ₹9,000 crore for the PVC business and ₹4,000 crore for natural resources and mining. The balance will be allocated to businesses including Adani New Industries and green hydrogen projects.
Adani said the group sees growing demand for data centres, power, transmission and digital infrastructure as a key opportunity over the coming years, arguing that the rise of artificial intelligence will require significant investment in physical infrastructure.
The chairman also said matters related to legal proceedings against the group in the US are "now behind us," allowing management to focus on growth.
Adani Airport Holdings, which handles about 23% of India's air passenger traffic, is scaling up operations at Ahmedabad, Lucknow, Guwahati and Jaipur airports, while Navi Mumbai International Airport is being developed to eventually handle 90 million passengers annually. City-side developments at the Mumbai and Ahmedabad airports are expected to be completed over the next two to three years.
The group is also targeting a 2-gigawatt data centre platform by 2030 through AdaniConneX. Adani New Industries plans to expand solar cell and module manufacturing capacity to 10 GW from 4 GW currently, as the group positions itself for rising demand for renewable energy and digital infrastructure.
