Adani assures to complete infra projects on time and on budget

Adani Enterprises, the Adani Group's flagship, said that new businesses such as renewables, data centres, airports, and roads account for more than 33% of earnings and that all infrastructure projects will be completed on time. In this market volatility, Adani Enterprises are laser-focused on maintaining its business momentum.They’ll be looking at AEL's finances, operating performance, and incubation pipeline. Gautam Adani's group has been trying to regain investor trust after a report from US short-seller Hindenburg Research last month wiped out more than $120 billion of his empire's market value. Hindenburg's allegations have been denied by the company. AEL is making progress in the incubation of new projects by Adani New Industries (ANIL) in green hydrogen, Adani Connex in data centres, Adani Airports Holding, and Adani Road Transport. The group's decision not to proceed with a follow-on public offer (FPO) will have no impact on its operations or plans. During the early stages of a new project, our leverage tends to increase due to the nature of our infrastructure assets generating strong cashflow, resulting in rapid deleveraging. ANIL has three business lines: ingots, wafers, cells, modules, wind turbines, electrolyser and associated ancillary equipment, green hydrogen generation, and downstream products. Also read: Deal for DB Power assets at Rs 70.17 billion by Adani Power falls Adani Power falls in profits by 96%