Adani Enterprises Ltd (AEL) said its step-down unit has incorporated three wholly-owned subsidiaries focused on hotel and real estate development as part of its airport city expansion strategy.
Adani Airport City Ltd, a step-down wholly-owned subsidiary of the company, has set up Adani Navi Mumbai Airport City Ltd, Adani Guwahati Airport City Ltd and Adani Ahmedabad Airport City Ltd.
The new entities will undertake real estate activities including construction, along with hotels featuring integrated restaurants, banquets and business centres, according to a regulatory filing by the company.
The newly incorporated entities “shall be engaged in the business of real estate activities with own or leased property, construction of buildings carried out on own – account basis or on a fee or contract basis – hotels with integrated restaurants, banquets and business centres,” it said.
It however did not elaborate if the plan included construction of hotels within the vicinity of airports it
