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BUSINESS EYE AUGUST 12, 2022 | The Indian Eye 36

Adani Enterprise makes record profit

Group to acquire Macquarie Asia Infrastructure Fund’s toll road portfolio

OUR BUREAU corridors in western and southern
India, the group said in a statement.
New Delhi
“Adani Road Transport Ltd
dani Enterprises Ltd (AEL) (ARTL), a wholly-owned subsidiary
on Thursday reported a 76.48 of Adani Enterprises Ltd (AEL), en-
Aper cent rise in consolidated gaged in the development, construc-
profit at Rs 468.74 crore for the first tion, operations and management of
quarter ended June on the back of roads and highway projects in India,
higher revenue from operations. The has entered into a definitive agree-
company had posted a consolidated ment to acquire Gujarat Road and
net profit of Rs 265.60 crore in the Infrastructure Company Ltd (GRI-
year-ago period, AEL said in a reg- CL) (owned 56.8 per cent by Mac-
ulatory filing. quarie Asia Infrastructure Fund) and
The consolidated revenue from Swarna Tollway Private Ltd (STPL)
operations during the April-June (owned 100 per cent by Macquarie
quarter increased to Rs 41,066.43 Asia Infrastructure Fund).
crore from Rs 12,578.77 crore last year. “ARTL will acquire 56.8 per cent
In a statement, Adani Group in GRICL and 100 per cent stake in
chairman Gautam Adani said the STPL subject to regulatory approval.
group intends to leverage AEL’s in- The transaction is expected to close
cubation strategy model. in September 2022,” it added.
AEL’s high growth lays the foun- The acquisition is at an enter-
dation for the Adani Group to accel- prise value of Rs 3,110 crore, accord-
erate the continued development of ing to the statement. The enterprise
new businesses like data centres, air- value of a company includes the eq-
port ecosystems, road and water infra- uity value, debt as well as cash with
structure, defense and aerospace, and the company. Equity value measures
digital technology services, he said. the value of a company’s shares.
The company said Adani New STPL has two stretches of toll
Industries Supply Chain Ecosystem roads in Andhra Pradesh -- Tada
achieved sales volume of 264 MW to Nellore on NH-16 connecting
while Adani Airports Holdings Ltd important ports like Chennai, and
(AAHL - Airports) passenger move- Adani Group Chairman Gautam Adani (ANI) Krishnapatnam in Andhra Pradesh,
ment rose 35 per cent to 16.6 million spanning 110 km; and Nandigama
across seven airports. Adani Road AEL is the flagship company of portfolio in Andhra Pradesh and Gu- to Ibrahimpatnam to Vijayawada on
Transport Ltd has started construc- Adani Group. jarat for Rs 3,110 crore. The portfolio NH-65, spanning 48 km, which con-
tion activities in Azhiyur Vengalam, Also, the Adani Group on Thurs- of 972 lane km has a long concession nects key southern metro cities and
Kodad Khammam, Badakumari Kar- day said it will acquire Macquarie life with established traffic in strate- provides feeder traffic to NH 16, the
ki and Panagarh Palsit road projects. Asia Infrastructure Fund’s toll road gically located and important traffic statement said.

5G services in India to be launched by October

he fifth generation (5G) 51,236 MHz or around 71 per cent launch 5G in the country by October. 800 MHz, 1800 MHz, 3300 MHz
telecom services are likely to has been sold in the auction. Total The ongoing 5G spectrum auction and 26 GHz. Bharti Airtel has
Tbe launched in India by Oc- 40 rounds of bidding were conduct- indicates that the country’s telecom made bids worth Rs 43,084 crore
tober this year as the government ed in the past seven days. The total industry has come a long way in 5G to acquire 19867.8 MHz spectrum
on Monday successfully completed value of the bid stands at Rs 1,50,173 advancements,” the minister said. in 900 MHz, 1800 MHz, 2100MHz,
the spectrum auction mopping up crore. Vaishnaw said that better avail- 3300 MHz and 26 GHz frequency
over Rs 1.50 lakh crore in bids by Vaishnaw said the allocation of ability of spectrum will improve the bands. Vodafone Idea Limited has
four companies including Reliance the spectrum to the successful bid- quality of telecom services in the made bids worth Rs 18,799 crore
Jio, Bharti Airtel, Vodafone Idea ders would be done by August 10 country. to acquire 6,228 MHz spectrum in
and Adani Data Networks. and the 5G services are likely to be Reliance Jio Infocomm Limited 1800 MHz, 2100 MHz, 2500 MHz,
Addressing a media briefing launched in the country by October has made bids worth Rs 88,078 crore 3300 MHz and 26 GHz.
after the end of the bidding for this year. “Auction has been complet- accounting for 58.65 per cent of the Four firms are in the fray
5G spectrum, Union Minister of ed and in the next few days, till Au- total value of Rs 1,50,173 crore re- for the 5G auction. Adani Data
Communications, Electronics and gust 10, all formalities including ap- ceived by the government in the 5G Networks Limited has made bids
Information Technology Ashwi- proving and allocating the spectrum spectrum auction. worth Rs 212 crore to acquire 400
ni Vaishnaw said out of the total will be done,” he said. Jio has made bids to acquire MHz spectrum in 26 GHz fre-
72,098 MHz of spectrum on offer, “It seems we would be able to 24,740 MHz spectrum in 700 MHz, quency band.

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