Adani plans ₹35,000-40,000 crore annual capex

What happened: Adani Enterprises plans annual capex of ₹35,000-40,000 crore over the next couple of years, with airports, data centres and PVC doing what finance head Manan Vakharia called "the heavy lifting." Key numbers: H1 EBITDA ₹11,958 crore, up 56%. AdaniConneX signed a 240 MW hyperscale contract; operational capacity 94.6 MW. Why it matters: The spending supports scaling newer businesses toward commercial operation, but the company must balance expansion with execution and returns from newly commissioned assets. Management gave no specific FY27 EBITDA forecast.

Adani Enterprises plans annual capex of ₹35,000-40,000 crore over the next couple of years, with airports, data centres and PVC doing what finance head Manan Vakharia called "the heavy lifting."

The spending supports scaling newer businesses toward commercial operation, but the company must balance expansion with execution and returns from newly commissioned assets. Management gave no specific FY27 EBITDA forecast.