Adani Enterprises shares slipped 1.47% to ₹2,693 on the National Stock Exchange on Friday afternoon after its joint venture, AdaniConneX Private, sealed a ₹1,085.51 crore all-cash deal to acquire 100% of Vizag Mega Data Center Park.
Buyers stepped back across the broader market. AdaniConneX executed the Share Purchase Agreement on November 5 with seller Adani Infra, according to regulatory disclosures. The entire transaction will wrap up by November 10, 2026.
Vizag Mega Data Center Park, incorporated on February 3, 2026, has logged zero revenue and has yet to begin commercial operations. But the corporate shell controls prime land and secured approvals—giving AdaniConneX an immediate head start on physical construction in Andhra Pradesh. While the target is directly or indirectly controlled by the promoter group, the company stated the transaction was executed strictly on an arm’s-length basis. The buyout does not trigger related-party classification for Adani Enterprises under SEBI listing rules, and requires no regulatory or government approvals.
Financial filings filed alongside the acquisition reveal an operational surge offset by high base effects. Revenue from operations jumped 75.1% year-on-year to ₹37,215 crore in the September quarter of fiscal 2027. Operating muscle expanded in tandem. Earnings before interest, tax, depreciation, and amortisation (EBITDA) leaped 65.9% to ₹5,651 crore against ₹3,407 crore recorded in the year-ago period.
| Financial Metric (Q2 FY27) | Current Quarter | Year-Ago Quarter | YoY Change (%) |
|---|---|---|---|
| Revenue from Operations | ₹37,215 crore | ₹21,254 crore | +75.1% |
| EBITDA | ₹5,651 crore | ₹3,407 crore | +65.9% |
| EBITDA Margin | 15.2% | 16.0% | -80 bps |
| Profit After Tax (PAT) | ₹1,492 crore | ₹3,301 crore | -54.8% |
Yet bottom-line numbers showed severe compression. Net profit tumbled 54.8% to ₹1,492 crore, dragged down by the absence of a ₹3,583 crore exceptional gain booked in the September 2025 quarter. Operating margins shrank as well, shedding 80 basis points to 15.2%.
Friday's weakness pulled Adani Enterprises down 5.5% over the past month, though the stock retains a 19.2% advance year-to-date. With regulatory barriers cleared, AdaniConneX will transfer funds and take full ownership of the Vizag site on November 10.