Indian ports-to-power conglomerate Adani Group will increase capital expenditures in fiscal year 2025 to 1.3 trillion rupees ($15.6 billion) from 700 billion rupees a year earlier, Chief Financial Officer Jugeshinder Singh said on Tuesday.
Adani Green Energy, the renewable energy arm of the group, will spend 340 billion rupees to add 6 gigawatts of capacity, Singh told reporters at a media briefing in Ahmedabad in Gujarat state.
The comments came a day after billionaire owner Gautam Adani told investors the group is "well positioned" to capitalize on opportunities in the country's booming infrastructure sector.
The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on infrastructure spending, which is expected to grow at a compounded annual growth rate of 20%-25%, Adani said on Monday.
On Tuesday, Singh denied reports the group is planning to take a stake in payments firm Paytm, but said it will "evaluate any opportunities" in the fintech space.
($1 = 83.4375 Indian rupees)
(Reuters - Reporting by Sumit Khanna; Writing by Chris Thomas; Editing by Jacqueline Wong and Christian Schmollinger)