Adani Enterprises Plans Over Rs 13,000-Crore Investment In Data Centres
The flagship has one operational data centre in Chennai, and another two are under construction in Noida and Hyderabad.
Adani Enterprises Ltd. will invest over Rs 13,000 crore in the next three years in its data centre business.
The company expects to invest approximately $0.5 billion, or about Rs 4,390 crore, Group Chief Financial Officer Jugeshinder Singh said in the earnings call on Nov. 8. "This is broadly in line with our earlier guidance given earlier in the year, the next year and year after that also continues around (a) similar one."
AdaniConneX, one of the group's incubating businesses, is a joint venture between Adani Group and EdgeConneX.
The flagship has one operational data centre in Chennai, and another two are under construction in Noida and Hyderabad. The land acquisition process is still under way for its plans in Navi Mumbai, it said in its Nov. 2 investor presentation.
The data-centre business has an order book of over 111 megawatts and has set a goal to have a 1-gigawatt data centre platform in a decade that empowers digital India, according to the statement.
The company raised $213 million for its data centre portfolio with participation from international banks last June.
"The construction facility is the key ingredient of the AdaniConneX capital management plan, providing the pathway for us to deliver on time a reliable and sustainable data centre capacity of 1 GW by 2030," Jeyakumar Janakaraj, chief executive officer of AdaniConneX, had said earlier.
Shares of Adani Enterprises closed 2% lower at Rs 2,214.65 apiece as compared with a 0.25% decline in the benchmark NSE Nifty 50.
Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns a 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.
