Adani Realty Ends Talks to Acquire Emaar India Over Valuation Dispute

Billionaire Gautam Adani's real estate arm has reportedly stepped away from discussions to acquire the Indian operations of Dubai-based Emaar Group, with sources attributing the move to disagreements over the project's valuation.

Talks Break Down Over Price Tag

The two groups had been in advanced negotiations for the acquisition of Emaar India Ltd., which was earlier valued at approximately $1.4 billion (₹11,650 crore) in enterprise terms, as reported by Bloomberg in March. Emaar had initially disclosed its intent to sell the Indian unit to potential suitors, including the Adani Group, two months prior.

However, sources familiar with the matter revealed that the talks broke down due to the inability of both parties to agree on a mutually acceptable valuation. These individuals requested anonymity, citing the confidential nature of the negotiations.

Possibility of Future Talks Not Ruled Out

While the current discussions have come to a halt, insiders suggested that negotiations could potentially resume in the future, should the valuation gap narrow or strategic interests align once again.

Neither Adani nor Emaar provided any official comment in response to media queries.

What’s at Stake for Adani Realty?

Had the deal gone through, it would have significantly bolstered Adani Realty's growing footprint in Indian real estate. According to its website, the company currently manages around 24 million sq ft of completed property and has another 61 million sq ft under development.

The acquisition of Emaar’s India arm would have added a fresh layer of scale and presence to Adani’s real estate ambitions, particularly in Tier-1 markets where Emaar has already established a premium brand image.

Disclaimer: This article is based on information available from unnamed sources and publicly available data. Neither Adani Group nor Emaar Group has issued an official statement at the time of publication.