Adani seeks single agency for INR 600-crore media overhaul

The Adani Group has issued an open request for proposal (RFP) seeking a single media partner for an estimated INR 500–600 crore mandate, marking one of the largest consolidation moves in India’s corporate communications landscape. The shift signals a broader effort by the conglomerate to streamline its fragmented media operations at a time when its businesses are expanding aggressively across energy, infrastructure and technology.

According to industry reports, the RFP sets stringent qualification thresholds, requiring agencies to have a minimum turnover of INR 1,500 crore and a proven five-year track record managing large-scale accounts. The mandate spans print, digital, outdoor, social and influencer platforms, replacing a multi-agency structure that industry insiders describe as inconsistent in execution and difficult to measure at scale.

A key change in the new model is a heavier tilt towards digital channels. More than half of the proposed allocation may move to online platforms, accompanied by a larger role for influencer-led activity, particularly for consumer-facing verticals.

The shift reflects growing demand for visibility from businesses such as Adani Electricity and Adani Airports, which together reach a significant volume of consumers. Adani Electricity Mumbai alone services more than 4.5 million subscribers, while the airports unit handles around 200 million passengers annually.

Historically, different group companies have partnered with different agencies, while the corporate mandate has sat with MudraMax since 2012. The move to centralise planning and execution suggests that the conglomerate is recalibrating both cost efficiencies and measurement practices at a time of heightened scrutiny on large advertisers’ spending patterns.

The RFP follows a year of solid financial performance. For the financial year ending March 2025, the Adani Group reported consolidated revenues of INR 2,71,664 crore and an adjusted EBITDA of INR 89,806 crore. In his address at the group’s 2025 Annual General Meeting, chairman Gautam Adani emphasised the scale of future ambitions, calling the next phase of capital expenditure a “record-breaking move”.

He said, “Our objective is to create new possibilities, serve our nation's destiny and build valuation, brick by brick. These are not just investments in our group, but investments in the possibilities for doing our part to build India's infrastructure.”

Gautam Adani also outlined a planned annual investment of $15–20 billion over the next five years. The group is reportedly targeting spending of around INR 1.5 lakh crore a year and intends to maintain this level through the decade. Its debt position remained stable during FY25, with a net debt-to-EBITDA ratio of 2.6x.

Within this broad expansion strategy, the airports business has emerged as a flagship area of investment. According to Bloomberg, the group is planning to invest $15 billion to upgrade capacity across its network to accommodate 200 million passengers annually within five years. The plan includes terminals, taxiways and a new runway at Navi Mumbai airport, which is scheduled to open on 25 December.

The group also intends to upgrade capacity at airports in Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow and Guwahati. Its airport division currently operates eight airports and has been preparing for a potential listing by 2027, as part of a wider roadmap involving $100 billion in investments.

Technology infrastructure is another pillar of its diversification. The group is set to invest up to $5 billion in a Google data centre campus in Visakhapatnam, being developed by AdaniConneX, its joint venture with EdgeConneX. A media report quoted executives saying the project forms part of a larger multi-year programme requiring $15 billion in investment beginning in 2026.

As the conglomerate enters a period of sustained capital expenditure across airports, energy, data centres and infrastructure, the decision to consolidate its media operations under a single partner reflects a push toward tighter control over messaging, performance measurement and consumer-facing communication. The RFP offers an opportunity to secure one of the sector’s most significant mandates; albeit with demanding eligibility criteria and expectations of scale.

Whether this consolidation leads to greater efficiency or tighter centralisation of narrative remains to be seen, but the move underscores how India’s largest conglomerates are rethinking media management amid rapid business expansion and growing public scrutiny.