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The initial public offering (IPO) of Adani Airport Holdings Limited (AAHL), the airport unit of the diversified Adani Group, is likely to go for its public debut in the next two to three years. Jeet Adani, Director of Adani Airport Holdings Ltd, said in a media report that he wants to focus on three things before bringing the company’s IPO.
First is the commercialisation and stabilisation of Navi Mumbai, which will start next year. Second is city-side development around the airport which will be started in 2028-29 and third is non-aeronautical revenue growth. “Since we started the business, it has tripled and is going to be a major source of income in the future,” he was quoted as saying in the report.
Jeet Adani further said that once these three things happen, AAHL’s EBITDA, which is currently around USD300 million, will increase to USD1 to USD1.5 billion.
“When EBITDA will be at USD1 billion, then we will be able to get our business listed. It will take at least 2 to 3 years to reach this level,” said Jeet Adani.
Total revenue for the reported quarter was INR 2,478 crore as against INR 1,266 crore in the same quarter of the previous year. For the same comparative period, operating expenses were INR 3,267 crore as against INR 1,995 crore. The airline reported a net loss of INR 458 Crore for the quarter ending March 31, 2022, against INR 235.3 crore for the quarter ending March 31, 2021.
He further added that consolidation among airlines in India brings both positive and negative impacts for airports. The positive side is that having strong airline companies like Air India, now backed by the Tata Group, ensures that India has a strong presence on both short-haul and long-haul routes. The negative impact of airline consolidation from the airports’ point of view is that it will increase concentration risk.Meanwhile, the record-breaking, half-year performance of Adani Enterprises Ltd (AEL) this fiscal has been led by Adani New Industries Ltd (ANIL) and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilisation. For the first six months of this fiscal (H1 FY25), Adani Enterprises Ltd posted 2.5 times net profit growth at INR 3,196 crore, from INR 902 crore last fiscal. The company’s revenue increased by 14 per cent to INR 49,263 crore in H1 FY25.
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