Adani Group’s pile of debt increased almost 21% over the past year and the proportion held by global banks rose to nearly a third, according to data seen by Bloomberg that offers an up-to-date snapshot of its financial health. Information gleaned from people familiar with the conglomerate’s inner workings as well as from presentations to investors reveal 29% of its borrowings were with global international banks at the end of March — a category that didn’t feature on the group’s list of creditors seven years ago. Yet the data also show a metric for its ability to pay off its debts improved.
