Adani Group’s Superapp Logs Gross Sales Of INR 750 Cr In FY24

Adani Group’s superapp Adani One clocked annual gross merchandise value of INR 750 Cr in the financial year 2023-24 (FY24) on the back of its strong online ratings and steady rise in transaction value per user.

As per Adani Enterprises Limited’s FY24 report, Adani One achieved a significant milestone by validating its platform’s alpha version, aiming to evolve into a premier superapp catering to a wide range of frequent use cases.

The company also said the superapp gained 30 Mn users, earned a rating of 4.8 stars and has a 29% user repeat rate.

Adani Digital Labs Pvt Ltd (ADLPL) aims to connect with 400 Mn users through the Super App by 2030 through various Adani portfolios and partner services, based on the annual report of AEL.

The application was initially launched in December 2022 for its airport vertical, where users can book air tickets, check flight status, shop for duty-free products, get cabs and avail parking facilities.

“Our initial focus is on delivering exceptional value to the hundreds of millions of B2C customers the Adani Group businesses serve today, by offering them a suite of services via the Adani One app,” said Sudipta Bhattacharya, executive chief of Adani Group, in the annual report of AEL.

“From there, we strategically expand in two directions, welcoming new customers while simultaneously broadening our service offerings to existing customers,” Bhattacharya added.

Adani One onboarded over 1 Mn users in less than one month of its launch and is expected to hit 500 Mn users by 2026, as per the company’s 2022-23 annual report.

Adani Enterprises’ annual net worth rose to INR 44,186 Cr, from INR 37,890 Cr, a year ago. 

AEL also posted a rise in passenger movements at its airports to 88.6 Mn from 74.8 Mn, a year ago.

The company said its performance during FY 2023-24 was boosted by the emergence of core infra-incubating businesses, contributing 45% of the overall EBITDA.

However, AEL reported its annual financial report on Friday (May 31) with a net income fall of nearly 29% to INR 98,282 Cr due to the setbacks from the Hindenburg short-selling allegations, as well as the external inflationary and market pressures.

Gautam Adani-led Adani Group is looking to make its foray into the ecommerce and payments space amid its plans to expand businesses into fast-growing consumer-facing markets, based on reports from earlier this week (May 28). Also, the company is in talks with banks to launch a co-branded Adani credit card.

In March, multinational conglomerate Adani Group invested in a drone startup called DroneAcharya Aerial Innovations without disclosing the monetary value of the order to provide Directorate General of Civil Aviation (DGCA) certified drone pilot training.

In February, the Ahmedabad, Gujarat-based company reported a total income rise of 7% to INR 28,827 Cr in the third quarter ended on December 31, 2023, resulting from its incubating businesses, including green hydrogen ecosystem, airports and roads.