According to reports, the Adani Group is set to make a $1 billion bid for Jaypee Group’s real estate assets. This move would mark Adani’s entry into India’s largest property market, the National Capital Region (NCR). If successful, Adani’s real estate portfolio could grow fourfold.

The bid is part of a larger plan to resolve the bankruptcy case of Jaiprakash Associates Ltd (JAL), Jaypee Group’s main company. JAL is involved in India’s largest bankruptcy case, with over Rs 50,000 crore in debt. Adani’s offer includes acquiring Jaypee’s real estate assets and possibly its cement assets.

Jaypee’s real estate holdings are notable, featuring high-profile projects like the 452-acre Jaypee Greens township in Greater Noida, which includes luxury villas, apartments, and a golf course. Other assets include the 1,063-acre Jaypee Greens Wish Town Noida and the Jaypee Greens Sports City, home to a motor racing track along the Yamuna Expressway.

Adani’s bid includes an estimated Rs 15,000 crore offer to Jaypee’s lenders, aiming to acquire its real estate and cement businesses. This would place Adani in direct competition with major real estate players in India, such as the Godrej Group, Tata Group, and Larsen & Toubro.

Adani’s real estate projects are currently focused around Mumbai, with a portfolio valued at around Rs 6,000 crore. The company also works on major projects like the Dharavi slum redevelopment and a significant land parcel in Bandra.

The resolution process involves a committee of creditors, including the State Bank of India, ICICI Bank, and LIC, who will evaluate Adani’s bid. The final decision will depend on approvals from Jaypee’s creditors and the National Company Law Tribunal’s insolvency framework.