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- Adani Airports
Adani Airports Revenue, Valuation, Funding & Investors
Adani Airports is valued at $19B as of September 2026, a 13.9x multiple on its last reported $1.4B revenue.
Last Adani Airports valuation
$19B
Undisclosed stage · Sep 2026
Last Adani Airports funding round
$1B
Undisclosed stage · Sep 2026
Adani Airports revenue
$1.4B
Undisclosed stage · Sep 2026
Key investors in Adani Airports
Temasek
BlackRock
Alpha Wave Global
Premji Invest
About Adani Airports
Adani Airports is an Ahmedabad-headquartered operator managing eight Indian airports including Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram, plus the upcoming Navi Mumbai International Airport. The company delivers passenger services like Pranaam meet-and-greet, premium lounges, duty-free retail, diverse F&B outlets, Wi-Fi, medical facilities, baby care rooms, prayer spaces, and assistance for reduced mobility. Bookings occur via the Adani One platform.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Usage-based
Revenue
$1.4B (Sep 2026)
Valuation
$19B (Sep 2026)
Sectors
Adani Airports Valuation
Adani Airports is currently valued at $19B, based on its undisclosed-stage round in September 2026.
The $1B round included Temasek, Premji Invest, BlackRock and Alpha Wave Global.
Adani Airports valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2026 | Undisclosed stage | $19B | 13.9x |
Adani Airports Revenue
Adani Airports' latest recorded revenue is $1.4B, as of its undisclosed-stage round in September 2026. At a $19B valuation, that implies a 13.9x revenue multiple.
Adani Airports revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2026 | $1.4B | $19B | 13.9x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Adani Airports Funding History
Adani Airports has raised a total of $1B across 1 funding round.
Adani Airports funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Undisclosed stage | Temasek; Premji Invest; BlackRock; Alpha Wave Global | $1B | $19B | Adani Airport Holdings Limited agreed to raise ₹9,825 crore, or about $1 billion, in primary equity from a consortium led by Alpha Wave Global, alongside Premji Invest, Temasek and BlackRock-managed funds. The investment is structured through new equity shares issued in three tranches under a share subscription agreement and shareholders’ agreement, with the final tranche expected by July 2027. The transaction implies a pre-money equity valuation of about $18 billion, and the investors are expected to hold about 5.54% of AAHL after completion. The capital will fund airport modernisation and capacity expansion across AAHL’s platform, supporting a target capacity of about 200 million passengers annually. It will also support the first phase of integrated Adani Airport City development, covering about 22 million square feet of mixed-use space, and the continued scaling of ground handling and other non-aeronautical businesses. The deal provides an external institutional valuation benchmark for Adani’s airports business and reinforces the company’s broader strategy of expanding beyond core aviation into adjacent real estate and passenger-related services. AAHL is a subsidiary of Adani Enterprises Limited and is one of India’s largest private airport operators. It operates airports and related aviation infrastructure businesses, with the new funding intended to accelerate both operational expansion and non-aeronautical monetisation around its airport portfolio. |
Who has invested in Adani Airports?
4 investors have backed Adani Airports across its funding rounds, including Temasek, BlackRock, Alpha Wave Global and Premji Invest.
Adani Airports Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Adani Airports
Adani Airports has acquired 1 company to date.
Last acquisition by Adani Airports was on November 30th 2024. Adani Airports acquired Aviserve Facilities for undisclosed valuation.
Latest Acquisitions by Adani Airports
| Description | Aviserve Facilities is a provider of premium airport meet-and-greet services at major hubs worldwide. Offerings include baggage handling, fast-track immigration and security, check-in assistance, lounge access, business center usage, sleeping pods, and catering. Operating at over 400 airports in Europe, Asia, and the Middle East, the company serves business travelers and VIPs through dedicated concierges. |
| HQ Country | |
| HQ City | Mumbai |
| Deal Date | 30 Nov 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Adani Airports acquisitions and their M&A valuation multiples. Start Free Trial | |
Adani Airports Competitors
Adani Airports competitors include listed companies like FTAI Aviation, AerCap, Airports Of Thailand and Aéroports de Paris, and private ones like Bangalore International Airport and Elite Jetting.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.5B | $1.1B | $20B | 6.6x | ||
| Publicly listed | $8.5B | $6.8B | $23B | 7.4x | ||
| Publicly listed | $2B | $1.1B | $26B | 13.3x | ||
| Publicly listed | $7.7B | $2.3B | $12B | 2.9x | ||
| Private | $399M | - | $2.5B | 6.3x | ||
| Private | - | - | $8M | - |
Adani Airports Public Comps
Adani Airports is still privately-owned, but its public comps include FTAI Aviation, AerCap, Aéroports de Paris, Grupo Aeroportuario del Pacífico, Airports Of Thailand, GMR Airports, Shanghai Airport, Auckland International Airport, Flughafen Zuerich and ASUR.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.5B | $1.1B | 9.2x | 6.6x | 21.6x | 17.8x | |||
| $8.5B | $6.8B | 7.5x | 7.4x | 9.3x | 9.0x | |||
| $7.7B | $2.3B | 3.0x | 2.9x | 9.9x | 8.7x | |||
| $2.4B | $1.2B | 6.2x | 6.0x | 12.0x | 10.7x | |||
| $2B | $1.1B | 13.6x | 13.3x | 24.4x | 23.6x | |||
| $1.4B | $606M | 10.5x | 9.2x | 24.1x | 22.1x | |||
| $2B | $933M | 4.5x | 4.4x | 9.6x | 10.0x | |||
| $555M | $365M | 17.6x | 15.9x | 26.8x | 22.6x | |||
This data is available for Pro users. Sign up to see all Adani Airports competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Adani Airports
| When was Adani Airports founded? | Adani Airports was founded in 2019. |
| Where is Adani Airports headquartered? | Adani Airports is headquartered in Ahmedabad, India. |
| Is Adani Airports publicly listed? | No, Adani Airports is a private, VC-backed company. |
| What is Adani Airports' valuation? | Adani Airports was last valued at $19B in its undisclosed-stage round in September 2026. |
| How much funding has Adani Airports raised? | Adani Airports has raised $1B across 1 funding round. |
| What was Adani Airports' last funding round? | Adani Airports' last funding round was a $1B undisclosed-stage round in September 2026. |
| Who are Adani Airports' investors? | Adani Airports' investors include Temasek, Premji Invest, BlackRock and Alpha Wave Global. |
| What is Adani Airports' revenue? | Adani Airports' latest recorded revenue is $1.4B (September 2026). |
| What is Adani Airports' revenue multiple? | Adani Airports' latest valuation implies a 13.9x revenue multiple ($19B valuation on $1.4B of revenue). |
| Which companies are comparable to Adani Airports? | Companies comparable to Adani Airports include FTAI Aviation, AerCap, Airports Of Thailand, Aéroports de Paris, Bangalore International Airport and Elite Jetting. |
| How many companies has Adani Airports acquired? | Adani Airports has acquired 1 company, including Aviserve Facilities. |
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