The Adani Group is reportedly in advanced discussions to acquire Emaar India, a real estate company, in a deal valued at approximately USD 1.4-1.5 billion. This move is part of the Adani Group's strategy to expand its footprint in the Indian property market.
Dubai-based Emaar Properties initially entered the Indian real estate sector in 2005, collaborating with MGF Development to form Emaar MGF Land. Over the years, the joint venture saw significant investments, totalling Rs 8,500 crore. However, in April 2016, Emaar Properties ended the partnership through a demerger, which led to the formation of Emaar India as a standalone entity.
Emaar India boasts a substantial portfolio of residential and commercial properties across key cities in India, including Delhi-NCR, Mumbai, Mohali, Lucknow, Indore, and Jaipur. The talks between Emaar Properties and the Adani Group are now at an advanced stage, with both parties reportedly working through the details of the potential deal.
Earlier this year, Emaar Properties confirmed that it was in talks with several groups in India, including the Adani Group, regarding a potential stake sale in its Indian business. While the valuation and other terms of the transaction have not been finalised, it is clear that Emaar is keen to reduce its stake in the Indian entity. However, the exact extent of the dilution remains undecided.
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