Adani Group looks to monetise ‘non-core’ real estate assets

Adani Group looks to monetise ‘non-core’ real estate assets

The group has already identified some such assets and is in the process of adding more to the list, the people said. These will be sold based on the need for funds to invest in the new real estate projects it is taking up, they said.

The Adani Group is exploring the possibility of monetising parts of its real estate holdings that have been internally flagged as non-core to its operations, said two people directly aware of the development.

The group has restarted conversations to explore a potential sale of Inspire BKC,a commercial real estate project situated on the edge of the Bandra-Kurla Complex (BKC), Mumbai’s bustling business district that is home to a host of multinationals and Indian corporate houses.

The group will have to eventually invest ₹20,000 crore in the project and 20% of this initial investment will have to be submitted to the Maharashtra government signing the development agreement and an additional 20% on submitting an integrated master plan.