CapitaLand to invest over Rs 19,200 crore in Maharashtra by 2030
CapitaLand
Investment Ltd (CLI) has signed a Memorandum of Understanding (MoU) with the Maharashtra government to invest more than Rs 19,200 crore (S$2.83 billion) in Mumbai and Pune by 2030, strengthening its presence across business parks, data centres, logistics, and industrial assets.
The announcement coincided with the launch of CLI's first data centre in India at Navi Mumbai.
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CLI entered Maharashtra in 2013 through International Tech Park Pune, Hinjawadi, developed with the Maharashtra Industrial Development Corporation (MIDC). Over the last decade, it has deployed over Rs 6,800 crore (S$1 billion) in 10 assets spanning business parks, data centres, and logistics facilities in the state.
The fresh commitment is part of CLI's broader India growth plan, which aims to expand its funds under management from over S$8 billion to about S$15 billion by 2028.
'India is a core market for CLI, and Maharashtra, with its strong economic fundamentals and well-developed IT and industrial ecosystem, presents significant opportunities for us to grow our footprint,' said Sanjeev Dasgupta, CEO, CLI India. 'We will continue to scale our investments in Maharashtra through our listed trust, private funds, and the Ascendas-Firstspace platform.'
CLI currently operates five business parks in the state, with 9.7 million sq ft of leasable space and plans to add 4.5 million sq ft more. Four of these parks — ITPP-H, aVance Pune I & II, and Aurum Q Parc in Mumbai — are held via CapitaLand India Trust (CLINT), Asia's largest India-focused property trust listed in Singapore. The fifth, International Tech Park Pune, Kharadi, is held under the Ascendas India Growth Programme.
On the data centre front, CLINT operates four facilities in Mumbai, Bangalore, Chennai, and Hyderabad with a total planned capacity of 244 MW. The Navi Mumbai data centre's first tower, with 54 MW capacity, is fully leased and operational, while a second tower of similar capacity is in early development.
In logistics and industrial assets, CLI holds five parks in Mumbai and Pune under Ascendas-Firstspace totalling 5.3 million sq ft, along with a 1.2 million sq ft warehousing park in Panvel under CLINT. A 17 million sq ft pipeline is in development to cater to e-commerce, manufacturing, and third-party logistics demand.
With more than three decades in India, CLI's portfolio now spans over 55 assets across eight cities, including IT and business parks, coworking, industrial, logistics, lodging, and data centres.
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