A Memorandum of Understanding (MoU) is a formal document that outlines an agreement between two or more parties. While generally not legally binding, its enforceability depends on the specific terms and language used. Nonetheless, an MoU reflects the parties’ intent and commitment to progress toward a formal contract.
The following are three companies that have announced MoUs totalling up to Rs. 70,000 crore in September 2025:
Adani Enterprises Limited
With a market cap of Rs. 2,99,325 crores, the stock moved up by nearly 1.11 percent on BSE, rising to Rs. 2,605 on Firday. Earlier this month, the Maharashtra government signed MoUs worth Rs. 1,08,599 crore across sectors such as information technology, food processing, warehousing, data centres, and logistics hubs. These investments are expected to generate nearly 47,000 direct jobs in the state.
As part of this, Adani Enterprises committed Rs. 70,000 crore for an integrated coal surface gasification and downstream derivatives project at Kamleshwar Linga in Nagpur district. The project alone is projected to create around 30,000 employment opportunities.
Adani Enterprises Limited (AEL), the flagship company of the Adani Group and the largest listed incubator, is engaged in the business of integrated resources management, mining services and other trading activities. It operates as an incubator, establishing new businesses in various areas like new energy ecosystem, data centre, airports, roads, copper, digital space and others.
Lodha Developers Limited
With a market cap of Rs. 1,14,951 crores, shares of India’s leading luxury real estate developer moved up by nearly 0.66 percent on BSE, rising to Rs. 1,157 on Friday. On 11th September, the Maharashtra government signed an MoU with Lodha Developers for the development of a Green Integrated Data Centre Park. The project involves a proposed investment of Rs. 30,000 crores and is expected to generate around 6,000 direct and indirect jobs. With a planned capacity of 2 GW, the park is designed to accommodate multiple leading domestic and international players.
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Lodha Developers Limited, formerly known as Macrotech Developers Limited, is among the largest real estate developers in India and has been involved in the real estate business since the 1980s. The company has delivered ~100 million square feet of real estate and is currently developing more than 110 million square feet under its ongoing and planned portfolio.
Swan Defence and Heavy Industries Limited
As of Septemeber 26th 2025, the shares of Swan Defence and Heavy Industries Ltd is not trading from 22th September on account of IRP as per IBC, which may relate to its insolvency proceedings.
On 20th September, Swan Defence and Heavy Industries Limited (SDHI) signed an MoU with the Gujarat Maritime Board (GMB) for a strategic investment of Rs. 4,250 crore. The partnership is set to modernise shipyard infrastructure, strengthen domestic supply chains and build a sustainable talent pipeline for India’s maritime industry.
This significant investment is a testament to SDHI’s commitment to India’s maritime ambition. The Rs. 4,250 crore investment will be deployed across three key projects at the shipyard in Pipavav Port, Gujarat, which is home to India’s largest dry dock, with a capacity to build vessels up to 4,00,000 DWT.
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The partnership will infuse Rs. 3,500 crore for capacity expansion at the shipyard, including slipway, jetties, additional cranes, block fabrication, and dredging. This will enhance the shipyard’s capacity to meet global as well as Indian shipbuilding demand.
Swan Defence and Heavy Industries Limited (SDHI), formerly known as Reliance Naval and Engineering Limited, is a leading shipbuilding and heavy fabrication company in India. It is mainly engaged in the construction of vessels, repairs and refits of ships and rigs and heavy engineering. In addition, the company has a large shipbuilding/repair infrastructure in India, including the largest dry dock in India.
Written by Shivani Singh
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