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Meet Gautam Adani’s right-hand man: The doctor-turned-businessman steering a Rs 20,852 crore company

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In the wake of the Hindenburg Research scandal, Gautam Adani reclaimed prominence in 2024, standing as the Chairman of Adani Group, a colossal multinational conglomerate spanning ports, airports, power generation, transmission, and green energy, among other sectors. His staggering real-time net worth is valued at $80.4 billion (approximately Rs 6.7 lakh crore) by Forbes.

Every successful industrialist relies on trusted aides to navigate the complexities of business, and for Gautam Adani, his childhood friend and right-hand man, Dr. Malay Mahadevia, has been instrumental in driving the Adani Group’s growth.

Dr. Malay Mahadevia holds the position of Whole Time Director at Adani Ports & SEZ (APSEZ) and serves as the CEO of Adani Airport Holdings Limited (AAHL). According to the annual report, APSEZ recorded a revenue of Rs 20,852 crore in FY 23, while Adani Enterprises, housing AAHL, reported a total income of Rs 1.38 lakh crore for the same period, largely attributed to the robust performance of the airport business. It’s worth noting that Gautam Adani’s son, Karan Adani, currently serves as the CEO of APSEZ.

A long-standing ally of Gautam Adani, Malay Mahadevia joined the Adani Group in 1992, at the behest of Adani himself, to spearhead operations at Mundra Port, Gujarat’s largest private port. Transitioning from his role as a dentist to an entrepreneur, Mahadevia played a pivotal role in the development of Mundra Port, overseeing its journey from conceptualization to commissioning.

In recognition of his contributions, Malay Mahadevia draws a significant salary as the Whole Time Director of APSEZ. Additionally, he serves as a Director at Adani Wilmar, a leading multinational F&B conglomerate, boasting a joint venture between Adani Enterprises and Singapore-based Wilmar International. Adani Wilmar stands as India’s foremost processor of palm oil, with a notable total revenue of Rs 13,872.64 crore, as per FY 23 Q4 results.

Prior to his tenure at the Adani Group, Dr. Malay Mahadevia pursued an academic career as an Assistant Professor at Government Dental College, Ahmedabad. Armed with Bachelor’s and Master’s Degrees in Dental Surgery from the University of Bombay, Mahadevia furthered his academic pursuits, earning a Ph.D. in Coastal Ecology from Gujarat University.

In the dynamic realm of business, Dr. Malay Mahadevia epitomizes the blend of diverse expertise and unwavering commitment, serving as Gautam Adani’s trusted confidant and indispensable partner in steering the Adani Group’s monumental success.

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source by : The Financial Express

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