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Gautam Adani to spend Rs 15 crore a day and made a foolproof plan for one year

Sagar Patel

By Sagar Patel

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Gautama AdaniImage credit source: pti

Adani Group plans to spend Rs 15 crore daily over the next year. This means that Adani will spend more than Rs 1.30 lakh crore in the current financial year. Group chief financial officer (CFO) Jugeshinder ‘Robbie’ Singh said on Tuesday that the group has doubled its investment forecast to $100 billion over the next seven to 10 years to expand the business.

He said that 70 per cent of the total investment in the group companies operating in the port, power, airport, raw materials, cement and media sectors will be made from internal resources and the remaining amount will be raised through debt. Singh said the group will consider refinancing between $3 billion and $4 billion of loans maturing this year and raising an additional $1 billion for project financing.

What will Adani Green Energy do?

According to him, the annual investment in stocks of between two and two and a half billion dollars will probably continue to attract new investors. He said that this year more attention will be paid to completing the asset creation work. Renewable energy company Adani Green will complete a six-seven gigawatt project, while the solar wafer manufacturing unit will operate on a large scale. In addition, work on the new Mumbai airport will also be completed.

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estimated at 100 billion dollars

The estimated capital expenditure for the financial year 2024-25 (April 2024 to March 2025) is 40 per cent higher than the estimated expenditure in the segment in the financial year 2023-24. The group had previously estimated an investment of $100 billion over the next seven to ten years. The majority of this investment will be made in the group’s fast-growing sectors of new energy, green hydrogen and airports and infrastructure.

Increase in profit after taxes

Singh said the pre-tax profits of Adani Group companies increased by a record 45 per cent in the financial year 2023-24 and reached Rs 82,917 crore (around US$10 billion). Adani Group is looking to further strengthen its presence in these regions with a segment of eight airports, including the upcoming Navi Mumbai airport and 14 domestic ports.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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