Adani Enterprises Ltd., the flagship of billionaire Gautam Adani, will spend around $1.5 billion on its fledgling data center business in the next three years, as growth focus returns at the Indian conglomerate after a short seller attack sent it into months of damage control.

The annual capital expenditure on the data center business, called AdaniConnex Pvt. — a joint venture with the global data center provider EdgeConnex Inc. — is expected to be about $500 million this year as well as the next two years, Jugeshinder Singh, Adani Enterprises chief financial officer, told analysts according to a filing late Wednesday.