Adani Airports Holdings Ltd (AAHL), which operates Mumbai Airport and is set to launch Navi Mumbai International Airport (NMIA), plans to invest approximately Rs 1 lakh crore over the next five years as part of a major expansion across airports, real estate, hospitality, and large-scale entertainment projects. “Our five-year capital expenditure plan includes Rs 1 lakh crore across air-side, city-side, and terminals, spanning our eight airports and beyond,” Adani said.
Currently India’s second-largest private airport operator, AAHL manages seven operational airports, including Mumbai, Ahmedabad, Lucknow, Jaipur, and Guwahati. The eighth airport, NMIA, will open on December 25, 2025, and is expected to eventually handle up to 90 million passengers annually, becoming the company’s largest airport.
Adani revealed that AAHL is considering entering public markets between 2027 and 2030 through an IPO or a demerger. Key triggers include NMIA becoming operational, AAHL achieving financial self-sufficiency, and leasing at least one major city-side project.
AAHL is also developing 240 acres of city-side land at NMIA, starting with a mixed-use first phase of around 5 million sq ft, followed by 2–3 million sq ft annually. A highlight will be a 25,000-seat indoor arena for live entertainment and conventions, in partnership with a leading global operator.
