Prime Highlights
- AdaniConneX acquired 100% of Madhuvanti Build Estate Ltd for ₹765.25 crore in an all-cash transaction.
- The acquired company owns strategic land assets and key licenses that will support future infrastructure development projects.
Key Facts
- AdaniConneX Private Ltd is a joint venture of Adani Enterprises focused on infrastructure and data center development.
- Madhuvanti Build Estate Ltd has not started commercial operations but owns land and approvals required for infrastructure activities.
Background
Adani Enterprises Ltd has announced that its joint venture, AdaniConneX Private Ltd (ACX), has acquired a 100% equity stake in Madhuvanti Build Estate Ltd (MBEL) for ₹765.25 crore through an all-cash transaction.
The acquisition gives AdaniConneX access to a sizeable land parcel and key licenses needed to begin infrastructure development activities. The company said these assets will help accelerate future infrastructure projects by providing an operational head start. The transaction has been completed and did not require any government or regulatory approvals.
Madhuvanti Build Estate, incorporated in Ahmedabad, Gujarat, operates in the infrastructure development sector. Although the company has not yet started commercial operations and reported no turnover, it owns strategic assets that align with AdaniConneX’s expansion plans. The filing stated that the acquisition is not classified as a related-party transaction for Adani Enterprises. However, MBEL is controlled directly or indirectly by members of the promoter or promoter group, and the deal was conducted on an arm ’s-length basis.
Separately, Adani Enterprises reported a consolidated net loss of ₹220.7 crore in the fourth quarter, compared with a profit of ₹3,844.9 crore in the same period a year earlier. Despite the loss, revenue increased 20.3% year-on-year to ₹32,439.3 crore. EBITDA rose marginally to ₹3,731 crore, while the EBITDA margin narrowed to 11.5%.
For FY26, the company reported total income of ₹1,02,943 crore, up 3% from the previous year. EBITDA remained stable at ₹16,464 crore. Profit before tax reached ₹4,309 crore, excluding exceptional gains from stake sales and asset transfers. Core infrastructure, incubating businesses and mining services contributed 80% of the company’s annual EBITDA.