Adani Airport Holdings Launches New Entity Celeritas International FZCO in UAE

Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises, announced the creation of a new company, Celeritas International FZCO, in the UAE. Celeritas has an authorized and paid-up capital of AED 100,000 and will operate in the Jebel Ali Free Zone, though it has yet to start business activities, AAHL said in a stock exchange filing.

Adani Airport Holdings holds a 74% stake in the newly formed Celeritas, with no related party transactions involved. Recently, April Moon Retail Private Limited, a joint venture of AAHL, revealed plans to acquire a 74% stake in Cococart Ventures Private Limited for Rs 200 crore.

Adani Enterprises, which manages the group’s airport, road, and data center ventures, has outlined an investment plan of Rs 80,000 crore for the current fiscal year, with Rs 50,000 crore earmarked for airport development and Adani New Industries. Adani Airports currently operates seven airports and is building an additional one in Navi Mumbai, aiming for a $21 billion investment over the next ten years.

In its latest financial report, Adani Enterprises recorded a 116% year-on-year increase in consolidated net profit for the first quarter ending June 2024, totaling Rs 1,454 crore, up from Rs 674 crore the previous year. Revenue from operations also rose by 12% to Rs 25,472 crore compared to the corresponding period last year.

IMF Retains India’s GDP Growth Forecast at 7%, Warns of Global Risks

India Poised to Lead Global Growth Amid Challenges: Finance Minister Nirmala Sitharaman