Blackstone Group and Panchshil Realty are set to develop India’s biggest hyperscale data centre in Navi Mumbai, with a massive investment exceeding Rs 20,000 crore. This 500 MW facility will span 3 million square feet across 14 buildings and will aim to operate using up to 65% renewable energy.
The project follows Blackstone’s recent agreement with the Maharashtra government at the World Economic Forum in Davos, marking it as the first significant Foreign Direct Investment (FDI) in the state’s digital infrastructure sector. As part of its strategic expansion in India, Blackstone signed three agreements at the event, focusing on the country’s growing property and technology sectors.
The data centre will be developed on nearly 50 acres of land in Navi Mumbai’s Ghansoli area, with Panchshil Realty’s subsidiary, Gramercy Info Park, spearheading the acquisition. Valued at Rs 900 crore, the land deal includes all associated levies and charges. This state-of-the-art facility will be tailored for hyperscalers involved in cloud computing, artificial intelligence, and high-performance computing.
Blackstone has been actively expanding its footprint in India’s data centre market. The firm is already constructing two data centres in Navi Mumbai under the brand Lumina CloudInfra, with a combined capacity of 60 MW and an investment exceeding USD 600 million.
With over USD 50 billion in assets under management in India, Blackstone is one of the country’s leading investors. Around 40% of its investments are in Maharashtra, with additional significant investments in cities like Bengaluru, Hyderabad, Pune, NCR, Chennai, and Kolkata.
Beyond the data centre space, Blackstone plays a major role in India’s office real estate market, managing 135 million square feet across 50 properties. The firm has already completed and exited two office REITs in India and is preparing to launch its third office REIT.
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