Business: Adani Group, led by industrialist Gautam Adani, may enter the Delhi-NCR real estate market. Adani Group is analyzing the assets of the bankrupt Jaypee Group. Adani may buy the real estate and cement business of Jaypee Group. Adani Group can bid up to $1 billion (about Rs 8,300 crore) for these assets. It is worth noting that Jaypee Group owes Rs 50,000 crore to many banks of the country. Jaypee Group’s real estate assets are owned by the group’s flagship company Jaiprakash Associates Limited (JAL). Jaypee Group’s real estate holdings include high-profile projects like the 452-acre Jaypee Greens Township in Greater Noida, which includes luxury villas, apartments and a golf course. Apart from this, the company also has a municipal project spread over 1,063 acres called Jaypee Greens Wish Town and Jaypee Greens Sports City in Noida which also includes a race track built along the Yamuna Expressway which is currently limited to Mumbai property. Business
The real estate business of the Adani Group is still spread across Mumbai. It is worth around Rs 6,000 crore. The company has a mega project for the redevelopment of Dharavi slum. Apart from this, the group also has a large land in Bandra. Recently, the group acquired land in Bandra Reclamation and has also redeveloped several properties in Mumbai. You will enter the country’s largest real estate market. If the Adani Group buys the real estate business of Jaypee Group, then Adani will enter the country’s largest real estate market. The real estate assets of Jaypee Group are spread across Delhi-NCR, which includes many premium apartment complexes, villas and golf courses etc. Apart from Jaypee’s real estate holdings, the Adani Group is also preparing to bid for its cement unit. In the proposed resolution package of the Adani Group, about Rs 15,000 crore can be offered to banks and other lenders for the acquisition of both the businesses.
