Adani Airport Holdings Limited (AAHL) is responsible for the development, operation, and management of airports, aiming to develop world-class airport infrastructure and associated city-side developments, incorporating modern facilities and technologies to enhance passenger experience and operational efficiency across its portfolio of airports. Our vision is to scale Adani Airports as, integrated global player, while elevating India into a world-class aviation hub and re-imagining airport as an epicentre of city for distinguished consumer experience, all seamlessly integrated in Aviio & Adani One, for a frictionless consumer journey. Spearheaded by Adani Airport Holdings Limited (AAHL), our vision of revolutionising India's airports has become a reality. We are currently managing seven airports, and this year, we will proudly welcome our newest greenfield addition – Navi Mumbai. A modern marvel in its own right, it redefines the boundaries of innovation and infrastructure excellence.

Segment Overview

Introduction

Adani Airport Holdings Limited (AAHL) is on a mission to revolutionise the way India flies. With an unwavering commitment to consumer excellence, AAHL is transforming the passenger journey – delivering world-class quality, uncompromising safety, and seamless service at every touchpoint.

Powered by a robust safety management system and cutting-edge customer analytics, AAHL is introducing a new era of tech-enabled experiences – from intuitive digital marketplaces to smart, personalised services that anticipate every need.

As we cater to a diverse and growing traveller base, AAHL is building a future-ready integrated infrastructure that unites passenger and non-passenger services into one cohesive, frictionless ecosystem – setting new benchmarks for what airports can be.

Adani Airport Holdings Limited (AAHL) envisions transforming Indian airports into world-class aviation hubs that provide exceptional passenger experience and economic growth by blending innovation, efficiency, and passenger delight, while driving economic progress at every terminal. By enhancing key airports, AAHL aims to modernise terminal and runway facilities, integrate advanced technologies for smart and contactless travel, and implement sustainable practices. This vision emphasises creating efficient, environmentally responsible airports that drive regional development, boost tourism, and set new industry benchmarks for excellence in airport management and operations.

Product/Service Offerings

We are redefining the airport journey by transforming our terminals into vibrant destinations that go beyond traditional aviation services. Airports today have evolved into dynamic commercial hubs that blend comfort, innovation, and customer engagement – and we are at the forefront of this transformation. Driven by a commitment to passenger satisfaction, we leverage advanced data analytics, state-of-the-art technology, and strategic partnerships to create seamless and memorable experiences for travellers.

India Opportunity

India’s aviation sector is poised for a significant transformation in 2025, marked by fleet expansion, operational growth, and infrastructure upgrades. With 800+ aircraft currently in service, including 60+ wide-body planes, and 157 operational airports, the industry is set for unprecedented progress. A key milestone was the merger between Air India-Vistara on November 12, 2024, resulting in a stronger full-service airline with Singapore Airlines as a minority partner. The newly integrated carrier now serves over 1,20,000 passengers daily across more than 90 destinations. IndiGo, India’s largest airline, continued to consolidate its leadership position. Celebrating 18 years of operations, it introduced business class seats on select routes and further deepened its international partnerships. In May 2024, IndiGo placed an order for 30 Airbus A350-900 wide-body aircraft, bringing its total order book to nearly 1,000 planes – Indian carriers have collectively placed orders for over 1,800 planes for FY 2024-25, a move that further reinforces its market dominance. To support this scale of growth, India is set to double its number of airports by 2030, with plans to develop global aviation hubs that can compete with Singapore, Dubai and Doha. This also aligns with national efforts to modernise military aviation and accelerate private sector participation in defence manufacturing. India’s aviation growth story is powered by its young and expanding middle class, with a median age of 28.7 years and approximately 1.5 million engineers graduating each year. Rising disposable incomes and increasing demand for air travel continue to position India as one of the world’s fastest-growing aviation markets. With strategic investments, strong policy support, and expanding global collaborations, India’s aviation industry is well-positioned for long-term growth and global relevance.

Business Opportunities

Streams

Airports have a unique combination of several revenue streams aero, non-aero and city side development. These business streams offer blended advantages from both infrastructure and consumer businesses. While modernising existing infrastructure offer stability of growth and assured returns, strong focus on non-aero and city side initiatives boosts consumer penetration. Sharp consumer-focus can exponentially alter growth and return opportunities.

Innovation at Airports

Adani Airports: Driving Innovation in Indian Aviation

Biometric Travel (Digi Yatra): Seamless, touchless passenger journeys using facial recognition at all checkpoints, reducing wait times and enhancing security.

Adani One Digital Platform: A unified app offering end-to-end travel services – flight bookings, duty-free shopping, parking, cabs, and more – creating a connected, personalised airport experience.

AI-Powered Passenger Assistance: The Desk of Goodness uses AI video analytics to support elderly and differently-abled passengers with real-time assistance.

Smart Infrastructure: Self-check-in kiosks, self-bag drop, and integrated baggage systems streamline passenger processing and improve operational efficiency

5G-Enabled Operations: High-speed connectivity for passengers and real-time data access for staff, enhancing responsiveness and service delivery.

Automated Traffic Management: AI-driven systems optimise terminal traffic flow and parking, reducing congestion and improving access.

Advanced Cargo Systems: Real-time cargo tracking and stakeholder coordination through digital cargo management platforms.

Sustainability Commitment: Targeting net-zero emissions by 2029 through eco-friendly operations and green infrastructure.

Untapped Growth Potential

Rapid economic growth and rising air travel demand in emerging markets – particularly across Africa and Southeast Asia – present a compelling opportunity for Indian airport operators. These underpenetrated regions offer significant potential for infrastructure development and long-term value creation. By strategically entering these high-growth markets, operators like Adani Airport Holdings Limited can diversify revenue streams, establish early-mover advantages, and contribute to regional development while reinforcing their global footprint.

Brand Building

Successful international airport operations play a vital role in enhancing the reputation and brand value of Indian airport operators. A strong global presence builds credibility and visibility, creating a platform for future expansion and strategic partnerships. This enhanced brand value opens doors to new investment opportunities, collaborations, and joint ventures, further strengthening the operator's competitive position in the global aviation industry.

Global Connectivity

Participating in the global aviation industry strengthens India's position as both a regional and international aviation hub. This increased visibility can attract more international airlines and passengers to Indian airports, enhancing connectivity and facilitating smoother global travel. As a result, the country stands to benefit from improved infrastructure, increased tourism, and greater business opportunities, all of which contribute to sustained economic growth.

Key Highlights of FY 2024-25:

Business Performance

Non-aero business

We are redefining the airport journey by transforming our terminals into vibrant destinations that go beyond traditional aviation services. Airports today have evolved into dynamic commercial hubs that blend comfort, innovation, and customer engagement – and we are at the forefront of this transformation. Driven by a commitment to passenger satisfaction, we leverage advanced data analytics, state-of-the-art technology, and strategic partnerships to create seamless and memorable experiences for travellers.

City-Side Development

We are transforming airport precincts into dynamic business, commercial, and lifestyle destinations through our city-side development vertical. By leveraging prime airport real estate, we are creating integrated spaces that include world-class offices, retail districts, entertainment hubs, and hospitality avenues. Our focus on seamless connectivity and sustainable growth enhances passenger experiences while driving economic opportunities in surrounding regions. With innovative planning and execution, we are shaping the future of urban infrastructure, reinforcing our commitment to building thriving airport ecosystems across India.

Sustainability Performance

Sustainability

As Adani Airports continue to expand its presence in the aviation industry, it recognises the critical importance of Environmental, Social, and Governance (ESG) considerations. The Company’s ambitious targets underscore its commitment to sustainability and responsible business practices. By prioritising environmental stewardship, social responsibility, and good governance, Adani Airports aim to create long-term value for its stakeholders while contributing to a more sustainable aviation industry and planet.

ESG Goals

AAHL’s ESG governance framework is overseen by an ESG Committee, which operates under the Corporate Responsibility Committee (CRC) at AEL. This committee includes sustainability representatives from each AEL business unit and is responsible for reviewing, monitoring, and enhancing ESG performance across AAHL operations.

Adani Airport Holdings Limited has been awarded 22^nd Greentech Global Workplace Safety Award on January 9, 2025 under Category: Best Safety Innovation in Technology

Mumbai Airport

Jaipur Airport

Lucknow Airport

Ahmedabad Airport

Guwahati Airport

Mangaluru Airport

Thiruvananthapuram Airport

Outlook

India’s aviation sector, now the third-largest globally, is soaring on the back of modern infrastructure, world-class airports, and a remarkable 43% annual growth in domestic passenger traffic. Contributing 5% to the national GDP and supporting over 4 million jobs, the sector is a key economic driver. From FY 2010 to FY 2025, India has maintained a strong CAGR of 10.7%, making it one of the fastest-growing aviation markets. The annual capacity growth rate of 6.9% is fuelled by rising disposable incomes, a booming middle class, increased air connectivity, and the rise of budget airlines.

AAHL aims to participate in the upcoming privatisation by government to expand its portfolio. Simultaneously, the Company is actively participating in upcoming domestic and International bidding for greenfield airport projects to broaden its presence in the aviation sector. The Company intends to operationalise Navi Mumbai Airport by FY 2025-26, marking a significant milestone in our expansion plans.AAHL aims to extend beyond airport premises to encompass city-side development projects. Phase 1 entails the development of approximately 114 acres of urban space. Projects are currently underway to materialise these facilities and amenities.