MUMBAI – Indian billionaire Gautam Adani's real estate division is pursuing court approval to acquire 87 properties from the financially distressed Sahara Group, potentially strengthening Adani's relatively modest property portfolio. The assets up for sale include hotels, shopping malls, residential complexes, and office buildings. Sahara Group is aiming to liquidate these assets to repay approximately $2.82 billion owed to investors who had contributed to a bond scheme later declared illegal by Indian authorities. During proceedings at the Supreme Court, which oversees Sahara's repayment process, Adani's legal representative Mukul Rohatgi confirmed the intent to purchase the entire portfolio but did not disclose the financial terms of the offer. The Supreme Court has sought input from relevant government agencies regarding this acquisition proposal and is scheduled to review the case again in November. Neither Adani Group nor Sahara Group responded to requests for comment. Historically, Sahara Group has been a prominent name, having sponsored India's national cricket teams and owned iconic properties such as New York's Plaza Hotel and London's Grosvenor House. Among the assets included in the sale is the 9,000-acre luxury township Aamby Valley near Mumbai, featuring an airstrip, golf course, man-made lakes, and upscale villas. Adani Properties, the unlisted real estate arm of the conglomerate known for its energy and infrastructure ventures, is also actively involved in the redevelopment of Dharavi, Asia's densest slum located in Mumbai. A source familiar with Adani's plans stated that acquiring Sahara's portfolio would significantly expand Adani's land bank and provide a strategic entry into the hospitality sector, with luxury properties like Sahara Star hotel and Aamby Valley included in the deal. This acquisition aligns with Adani Group's broader ambitions to diversify and strengthen its presence in real estate and hospitality, leveraging valuable land assets and premium properties to fuel future growth.