Adani Airport Holdings establishes Celeritas International FZCO in UAE

Adani Airport Holdings Expands UAE Presence with Launch of Celeritas International FZCO

Celeritas International FZCO was established in the United Arab Emirates with an initial share capital of AED 100,000, according to a statement released by Adani Airport Holdings Limited (AAHL), a significant subsidiary of Adani Enterprises. Although it hasn’t started operations yet, Celeritas, which is located in Dubai’s Jebel Ali Free Zone, is expected to increase Adani’s presence in the area.

Celeritas is 74% owned by AAHL, and no related-party transactions are involved. This move aligns with AAHL’s recent acquisition activity, including plans for April Moon Retail Private Limited, another AAHL joint venture, to secure a 74% stake in Cococart Ventures Private Limited, valued at Rs 200 crore.

Adani Enterprises has earmarked Rs 80,000 crore for capital expenditure this fiscal year, with Rs 50,000 crore dedicated to airports and Adani New Industries. Already India’s largest private airport operator since its 2019 market entry, Adani Airports manages seven airports, with an additional facility under construction in Navi Mumbai, and has set ambitious plans to invest $21 billion over the next decade.

In terms of finances, Adani Enterprises recorded a strong 116% YoY increase in net profit, rising from Rs 674 crore in Q1 FY24 to Rs 1,454 crore in Q1 FY24. The group’s growth trajectory across its varied infrastructure and services portfolio was highlighted by the 12% increase in revenue from operations, which reached Rs 25,472 crore.