Adani Infra Acquires 34% Stake in PSP Projects, Becomes Promoter

Adani Infra Acquires 34% Stake in PSP Projects, Becomes Promoter

In a strategic move to expand its footprint in the construction and infrastructure sector, Adani Infra Holdings has acquired a significant 34.4% stake in Ahmedabad-based PSP Projects, a prominent construction company known for projects like the Surat Diamond Bourse — the world’s largest office complex.

Details of the Acquisition

According to an official exchange filing on August 5, 2025, Adani Infra finalized the share purchase after signing the initial agreement with PSP Projects' promoters in November 2024. The acquisition comprises two parts: a 23.09% stake purchased from existing promoters and an 11.2% stake acquired from public shareholders through an open offer. This transaction makes Adani Infra a joint promoter of PSP Projects, sharing control with the founding promoter group headed by Prahaladbhai S Patel and the PSP Family Trust.

Board Representation

With this acquisition, Adani Infra has secured a seat on the PSP Projects board of directors. Kattunga Srinivasa Rao, representing Adani Infra, has been appointed as an additional non-executive, non-independent director, marking the group's active governance role in the company’s future direction.

About PSP Projects

PSP Projects, headquartered in Ahmedabad, specializes in constructing residential, commercial, and government buildings. The firm has an impressive portfolio and a robust order book. It recently reported a revenue of Rs 512 crore and a profit of Rs 18.9 crore for the first quarter of FY26, signaling steady growth.

Implications for Adani Group

This acquisition aligns with Adani Infra’s vision to strengthen its infrastructure and real estate portfolio in India. The company's growing presence across sectors such as airports, ports, roads, and energy infrastructure now extends into high-quality construction services through PSP Projects. By becoming a promoter, Adani Infra is well-positioned to leverage PSP’s expertise and project pipeline to complement its expansive infrastructure ambitions.

This development reflects Adani Infra’s continued strategy to invest in companies with strong potential and significant project pipelines, consolidating its position as a leading conglomerate in India’s infrastructure space.