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New kind of mint

New kind of mint

The pilots and crew of two personal aircraft, a Beechcraft jet and a Hawker, figure among the thankful thousands who owe their jobs to Gautam Adani, the owner of those planes and the biggest wealth creator last year.

In September, 2010 Forbes magazine announced, Adani as the sixth richest person in India with a personal wealth of $10 billion as of March 2011. Now, Adani Group Chairman, the first billionaire from Ahmedabad, became India's biggest wealth creator at the end of fiscal year 2011, doubling his wealth to Rs 33,211 crore by virtue of the Adanis' stakes in three listed companies. Anil Ambani tops the list of promoters who lost the most wealth in the April 2010-March 2011 period.

The year 2006 also belonged to the Adani group in Gujarat Inc as its flagship — Adani Enterprises—created the highest amount of wealth for shareholders among Gujarat-based large business groups.

Adani has emerged at the top of the wealth heap because of the huge appreciation in the value of the scrip after its re-rating by the market due to the group's strong position in real estate and infrastructure. The group's plan to sell off its retail chain to Reliance has also created excitement.

The company's expansion in ports and power has ensconced it among the top players last year. The Adani-led port of Mundra expects to handle 100 million MT cargo in 2012-13, the highest amongst Indian ports. APL is also setting up 4,620 MW coal fired, superciritical power plant at Mundra, the first unit of 660 MW of which was commissioned in December. With a generation capacity to 1,980 MW at the plant, APL becomes the third largest private power generating company in India.

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