Adani Group said on Wednesday it will invest more than 124 billion rupees ($1.49 billion) in Telangana as a part of its seven trillion-rupee expenditure plan for the next decade.
The investment commitments include a 100 megawatt data centre to be set up by the group's flagship firm Adani Enterprises for 50 billion rupees.
Adani Green Energy, Ambuja Cements, and Adani Defence Systems and Technologies also signed deals to set up projects in the state.
Ahead of a scathing report from US short-seller Hindenburg Research in January last year, the billionaire Gautam Adani-owned group had been eyeing infrastructure expansion and began to raise funds.
The report, which opened up the Adani Group to heightened regulatory scrutiny, dealt a blow to its fundraising efforts that included the calling off a $2.5 billion share sale, and wiped out $150 billion from its market value.
Since then, however, the conglomerate won the backing of bankers and investors, and its main seven stocks have pared losses to about $47 billion.
Supreme Court also provided further respite to Mr Adani earlier this month, saying it does not need to face more investigations beyond the market regulator's current probe.
The favour that the group garnered has enabled it to truck on with its plans to raise money to fund its projects, with Adani Ports announcing a $601 million fundraise.
Last week, Mr Adani pledged to invest $24 billion over five years in renewable energy in Prime Minister Narendra Modi's home state of Gujarat at a business summit.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
Winds Of Change: Adani Group's New Push For Renewable Energy "If You Have Courage": KTR's Open Letter To Revanth Reddy On Formula E Row Opinion: Opinion | Revanth Reddy Has Shot Himself In The Foot With Allu Arjun Case Rahul Gandhi Says "Way Blocked" After BJP MP Injured In Parliament Showdown "Entitled To Relief": Vijay Mallya On Banks Recovering Rs 14,131 Crore Assets Ambedkar Row: Congress Doubles Down After BJP's Soros Edit Of Protest Pic 'Disease X' In Congo Revealed To Be Malaria, Authorities Issue Warning Mega Parliament Protests As Both BJP, Opposition Claim Insult To Ambedkar Rahul Gandhi Says "Way Blocked" After BJP MP Injured In Parliament Showdown Track Latest News Live on NDTV.com and get news updates from India and around the world.