Gautam Adani’s company, Adani Realty, is in talks to acquire a stake in real estate giant Emaar India, according to a report by Business Today. The discussions involve executives from both companies meeting in Dubai to negotiate the terms of a potential transaction. Adani Realty is looking to buy part of Emaar India, though details such as the size of the stake have not yet been finalised, according to the report.
Emaar India is owned by Dubai-based Emaar Group, a major player in global real estate. Despite being relatively new, Adani Realty has built a strong presence in Dubai’s property market.
The company is now expanding its operations in India, with projects like the Dharavi redevelopment and ventures in the Delhi-NCR region.
The potential deal comes at a challenging time for Emaar India, whose operating revenue dropped by 31.4% in the financial year 2023, falling from Rs 2,434 crore to Rs 1,670 crore. The company also posted a net loss of Rs 118.7 crore in FY2023, after reporting a profit of Rs 189 crore the previous year, according to the report.
Despite financial struggles, the company remains a key player in the Indian market.
At present, the talks between Adani Realty and Emaar India are in the early stages, with no official agreements made yet.
