NEW DELHI: Within the next decade,  India is poised to add a staggering one trillion dollars to its GDP every 18 months, Gautam Adani, Adani Group Chairman, said.

He announced this optimistic projection during the AGM of his group companies. Adani envisions this growth trajectory propelling India into becoming a 25 to 30 trillion-dollar economy by 2050, simultaneously catapulting India's stock market capitalization to over 40 trillion dollars--an expansion of nearly 10 times the current levels.

Adani expressed his enthusiasm, proclaiming, "Our country stands as the most thrilling realm of opportunities. We have consistently advocated for growth with a focus on goodness, and our track record serves as a testament to our philosophy. As we forge ahead, our group will continue to fortify our existing foundations while venturing into new horizons."

Highlighting the Adani Group's accomplishments, he emphasized, "Our balance sheet, assets, and operating cash flows have not only grown stronger but have also reached unprecedented levels of health. The pace at which we have made acquisitions and turned them into success stories remains unmatched, leaving an indelible mark on the national landscape and fueling significant expansions."

The Adani Group achieved remarkable financial performance milestones during FY22-23. Total EBITDA soared by 36 percent to reach Rs 57,219 crore, while total income surged by 85 percent to touch Rs 2,62,499 crore. Additionally, total PAT witnessed a remarkable growth of 82 percent, reaching Rs 23,509 crore. The group's cash flow acceleration has further improved the net debt to run rate EBIDTA ratio, reducing it from 3.2x to 2.8x.

Adani emphasized the group's commitment to attracting global investment partners aligned with their long-term vision of constructing and operating world-class assets. In March 2023, the group successfully executed a secondary transaction worth $1.87 billion with GQG partners, despite prevailing market volatility. He proudly stated, "Our flagship company, Adani Enterprises Limited, has consistently displayed its incubation capabilities, with new ventures contributing a massive 50 percent to its EBITDA in FY23."

Among the key projects, the Navi Mumbai Airport and the Copper Smelter are progressing as scheduled. The Navi Mumbai Airport aims to achieve operational readiness and airport transition by December 2024.

NDTV is expanding its international programming and coverage to cater to a diverse range of global audiences.

AdaniConneX, our data center joint venture, is on track to establish a short-term capacity of 350 MW and a medium-term capacity of 1 GW. This unparalleled order book positions us as the largest capacity provider in India.

With regards to Adani Green, Adani emphasized the group's pivotal role in India's net zero journey. Adani Green Energy Limited successfully commissioned the world's largest hybrid solar-wind project of 2.14 GW in Rajasthan. Their operational renewable energy portfolio has grown by 49 percent, surpassing 8 GW and solidifying its status as the largest operational renewable portfolio in India.

He further reiterated their commitment to producing green electrons at the lowest cost, stating, "We reaffirm our target of achieving 45 GW of renewable energy capacity by 2030." Additionally, the group is constructing the world's largest hybrid renewables park in Khavda, located in the desert. Spanning over 72,000 acres, this ambitious project aims to generate 20 GW of green energy, with a goal to complete it faster than any project in their execution history.

Regarding Adani Ports, Adani described it as a pillar of strength in all aspects. APSEZ continues to be one of the most profitable port operators globally, with a port EBITDA margin of 70 percent. By 2030, the group aspires to become not only the world's most profitable port company but also India's largest transport utility capable of handling a billion tonnes of cargo annually. APSEZ aims to achieve carbon neutrality and triple its EBIDTA by then. In the next 12-24 months, APSEZ plans to inaugurate India's largest transshipment hub in Vizhinjam and establish a port in Colombo.

Adani Power successfully commissioned the 1.6 GW ultra-supercritical Godda power plant, marking their entry into transnational power projects. They have begun supplying power to Bangladesh, contributing to cross-border energy initiatives. Adani Transmission's efforts will lead Mumbai to achieve 60 percent renewable power, making it the world's first mega city to surpass the 50 percent mark in solar and wind power generation.

Adani Total Gas Limited made significant progress in expanding access to clean cooking fuel, benefiting 124,000 households. They experienced a remarkable 46 percent increase in revenue, amounting to Rs 4,683 crore. ATGL is actively transforming into a comprehensive sustainable energy provider, with rapid expansion in urban EV charging infrastructure and biofuel businesses.

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