The Adani Group is in advanced discussions with Dubai-based Emaar Group to acquire a majority stake in Emaar India for ₹4,000-5,000 crore, according to sources familiar with the matter.
“The deal is expected to involve 70-100% ownership of Emaar India, which boasts prime-location projects with promising valuations, one source revealed, adding that Adani Realty, the unlisted real estate arm of the Adani Group, is likely to lead the acquisition.
Although the exact valuation is still being negotiated, it is anticipated to be around ₹5,000 crore. This deal, if finalized, will mark Adani’s largest investment in real estate. Further cementing its presence in the sector following a series of acquisitions in recent years.
Emaar India, a subsidiary of Dubai-based Emaar Properties PJSC, The developer of the iconic Burj Khalifa, has a strong portfolio of residential and commercial projects across Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur. Emaar entered the Indian market through Emaar MGF Land Ltd, which split in 2016 into Emaar India Ltd and MGF Developments Ltd, with Emaar holding a 60.11% stake in the joint venture.
A spokesperson for Emaar India declined to comment, citing company policy against responding to speculation. Adani Group also did not respond to inquiries.
Adani Realty, backed by billionaire Gautam Adani’s family wealth, plans to fund the acquisition privately without involving its listed companies. The company is keen on expanding its footprint in Northern India, complementing its existing projects in Mumbai and western India.
This acquisition follows Adani’s growing interest in the Northern real estate market. In July, the group reportedly expressed interest in acquiring Jaypee Group’s extensive real estate assets in the National Capital Region (NCR) through insolvency proceedings. This potential $1 billion investment aimed to secure apartment complexes, villas, and golf courses in one of India’s largest property markets.
Emaar India’s prominent projects in Northern India include Emaar Emerald Hills, Digi Homes, Imperial Gardens, Urban Oasis, Marbella Villas, Palm Drive, Gurgaon Greens, Palm Springs, Emaar Business Districts 83 and 89, Continental City, Premier Terraces, and Jaipur Greens Savana.
This strategic move positions Adani Realty to significantly strengthen its portfolio and presence in some of the most sought-after real estate markets in India.