Adani Ports and Special Economic Zone, Navayuga Engineering Company and Bothra Shipping Services consortium also competed for the commercial port development project.
Adani Ports and Special Economic Zone (APSEZ) has reported a healthy 25.82 per cent jump in consolidated net profit to Rs 849.75 crore for the quarter ended December 2016, on the back of increased income. APSEZ is the country's largest port developer and the logistics arm of Adani Group.
Adani Ports and SEZ Ltd will invest Rs 6,000 crore for the development of the third phase of Mundra Port.
The upcoming capacity expansion of Mundra Port, touted as one of the top multi-purpose ports in the country in terms of traffic, would lead to employment generation for 600 people, sources said.
Adani Group Chairman Gautam Adani has announced that his company would invest another Rs 49,000 crore in Gujarat for expanding port capacity, and will set up cement plants. It is also planning a foray in the wind and solar power sectors over the next five years.
Adani Ports and Special Economic Zone (APSEZ) reported a 13.48 per cent drop in standalone net profit for the quarter ended September 30, 2016. Its net profit stood at Rs 916.67 crore in Q2FY17 as against Rs 1,059.51 crore in the corresponding quarter of the previous financial year.
The 12 per cent fall in Adani Ports and Special Economic ZoneÂ´s stock is the firmÂ´s single largest decline in the past two years. It came on the back of research houses like Citigroup downgrading the stock from Â´buyÂ´ to Â´neutralÂ´ following a sharp increase in net debt, loans and advances.