Fourth annual general meeting of Adani Enterprises. There are some years in a group's history that are more than milestones; they become defining years. Years that prove the strength of conviction, demonstrate the power of resilience, and reveal the difference between those who wait for clarity and those that build through volatility. FY 2025-26 was one such year for your group. It was a year in which the world grew more fractured, complex energy security models returned to the center of national strategy, and technology became inseparable from sovereignty. However, even in the face of these challenges, your Adani Group remained anchored to an unwavering belief: India's future cannot wait. While others debated, your group built. Adani's journey as the world's most integrated infrastructure platform across energy, transport, logistics, utilities, and industrial manufacturing. This progress did not come in calm conditions; it came in the middle of extraordinary scrutiny. However, we did not bend. We did not pause. Because what we have always been defined by is not the noise that surrounds us but the strength of our response. Not the intensity of the challenge but the clarity of our purpose. Not the criticisms but the nation building we intensely believe in. Just one example of this belief was about rupees 25,000 crore rights issue earlier this year. This was more than a capital event; I saw it as a referendum on our credibility. It was one of the largest rights issues in the history of India Inc. And your response was very clear. At a time when some tried to create doubt, you answered with convictions. You responded with participation and you provided us the mandate to help keep building India. And true to this spirit of nation building, the theme of my address this year focuses on accelerating infrastructure, leveraging intelligence. These are no longer two separate priorities; they are the twin global engines that must shape India's strength, secure India's sovereignty, and accelerate India's journey to becoming one of the defining powers of this century. The first engine, infrastructure, is the roads, ports, airports, transmission lines, power plants, renewable parks, gas networks, logistics platforms, cement capacity, water systems, and our industrial ecosystems that make national growth possible. The second engine, intelligence, is data centers, the use of AI, automations, predictive systems, digital platforms, real-time analytics, and machine-led decision support to make every one of these assets more responsive. Infrastructure gives a nation muscle; intelligence gives a nation mastery. And today, the two are inseparable. We are now one of the very few global companies that are not reacting to the future, but are prepared for it. The fact is that we have been positioning for this day since years. We saw early that the world was entering a new era, one where geopolitical fault lines would deepen, supply chains would fragment, and energy security would return as a strategic priority. We saw that the race for technological leadership and sovereignty would be constrained not by ambitions but by infrastructure. Allow me to elaborate. Our strength lies in the way our infrastructure pieces connect. From mining and power generation to transmission and distribution to ports and logistics to data centers and fulfillment centers and roads to water. We have the ability to connect every critical layer of infrastructure that is needed to power the age of intelligence. Let me begin with a few numbers that capture the scale of what we are building. In FY 25-26, we made a record capital investment of more than rupees 1.5 lakh crore in hard infrastructure. To put that in perspective, this represented over 30% of India's total new private sector capital expenditure of the year. For us, this is more than a financial number; it is a statement of belief. And there can be no stronger testimony to our commitment to nation building than the scale at which we continue to invest in the infrastructure that will power India's next chapter. So, let me shift to a few tangible examples of what we delivered over the past year. At Adani Energy Solutions, our transmission order book rose to rupees 72,000 crore. We secured several major projects including the Kawada South Park HVDC line, reinforcing our positions as India's only private sector player with a proven HVDC capability. At Adani Power, we are implementing India's largest ever private sector power CAPEX program of over rupees 2 lakh crore with a target of reaching 45 gigawatt of capacity over the next 5 years. We are also honored to be partnering with the government of Bhutan's Druk Green Power Corporation. As a part of these partnerships, the Adani Group and the DGPC will jointly develop 5,000 megawatts of hydro projects in Bhutan. Our entry into nuclear energy through Adani Atomic Energy is another confident step towards securing India's long-term energy future. With land identified and a 10 gigawatt targeted capacity by 2035, we are positioning ourselves early to serve the growing national demand for clean, down-the-clock power. At Adani Total Gas, we accelerated and crossed the significant milestone of over 1.1 million piped natural gas home connections. Given the current geopolitical situations, we are further ramping up our PNG projects to meet India's rising demand for more accessible gas. Coming to connectivity and logistics, Adani Ports handle over 500 million tons of cargo in financial year 2025-26, setting an unmatched benchmark for the nation and creating a clear pathway to 1 billion tons by 2030. Our integrated network of ports, SEZs, logistics assets, and expanding maritime services places us in a unique position to keep gaining market share while lowering the cost and complexity of India's trade.
