Adani Airport Holdings raises its borrowing ceiling by Rs2,500 crore

5 Dec 2022 , 10:41 AM

The Adani Group has expanded the borrowing ceiling of its airport arm, Adani Airport Holdings (AAHL), from Rs14,000 crore to Rs16,500 crore in order to fund the growth of the country’s eight airports.

Seven operational airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram are currently managed by AAHL. Additionally, it is constructing Navi Mumbai Airport, which is scheduled to open at the end of 2024.

According to the financial statements of the company, it has Rs 8,319.89 crore total borrowing as on March 31^st 2022. Out of this, 90% of these borrowings have been taken from other Adani Group companies such as Adani Enterprises, Adani Properties and Adani Rail Infra as inter corporate deposits.

In the meeting with investors in November, Adani Group had revealed the plan of its mega expansion of eight airports. This will increase the commercial area in these terminals by three times and build multiplexes, hotels, hospitals and Legoland theme parks in the city side.