Adani Group in Advanced Talks to Acquire Emaar India for ~₹13,000 Crore
Adani Group Advances Emaar India Acquisition
Adani Group is in advanced talks to acquire Emaar India for an enterprise value of around USD 1.4–1.5 billion as it looks to expand its property business. The deal could see Adani Group take up to 100% stake in the Dubai-based developer Emaar Properties' Indian arm.
The announcement reflects Adani Realty's aggressive expansion strategy in India's residential and commercial real estate markets. The talks between Adani Realty and Emaar India were first reported in September last year, and have now progressed to an advanced stage. Both parties have declined to comment on the negotiations.
Emaar India's Multi-City Portfolio
Emaar India has a large portfolio of residential and commercial spaces across Delhi-NCR, Mumbai, Mohali, Lucknow, Indore and Jaipur. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm Emaar MGF Land. In April 2016, Emaar Properties decided to end the joint venture through a demerger process.
Since its inception, Emaar India has delivered over 24,000 residential and commercial units across its projects, with approximately 4,000 units currently under development. The company maintains a strong presence in Gurugram, with multiple active projects across sectors connected to the Dwarka Expressway and Golf Course Extension Road.
Adani Realty's Acquisition Strategy
Emaar India is just one of the many reported acquisitions the 14-year-old Adani Realty has been pursuing to boost its business. Last year, the Adani Group's subsidiary Bridgeport Realtors got approval to acquire bankrupt property developer Radius Estates and Developers Private Ltd (Radius).
The unlisted property arm of Adani Group has a total project portfolio of 200 million sq. ft., of which around 23 million sq. ft. is developed and over 40 million sq. ft. is under construction. The firm's reported revenues as of March 2024 stand at Rs 6,000 crore, putting it in the list of developers like DLF Ltd, Prestige Group, Macrotech Developers, and Godrej Properties.
Recent Large-Scale Initiatives
Adani Realty has announced several major projects in recent months. In April 2025, the company announced a ₹10,000 crore integrated township near the upcoming Navi Mumbai International Airport in Panvel, marking its largest residential development to date. The company also unveiled plans for a ₹36,000 crore mixed-use redevelopment project at Motilal Nagar in Goregaon in collaboration with the Maharashtra Housing and Area Development Authority (MHADA).
In November 2022, Adani Realty won the bid for the redevelopment of Mumbai's Dharavi, one of the world's largest slums that sprawls over 600 acres in the heart of Mumbai, with a bid of Rs 5,069 crore. The company is also developing the Dharavi Redevelopment Project, one of India's largest urban renewal initiatives, projected to transform the 600-acre area over multiple phases.
Global Parent Company Background
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world's largest real estate companies, Emaar has a land bank of around 1.7 billion sq ft in the UAE and key international markets. Burj Khalifa and Dubai Mall are among the major projects developed by Emaar Properties.
Neither Adani Group nor Emaar India has provided further comment on the acquisition timeline or conditions, pending completion of final negotiations.