The data center will be the first of its kind in India, occupying 14 buildings totaling 3 million square feet and running on up to 65% renewable energy
World’s largest alternative asset management firm Blackstone Group along with its development partner Panchshil Realty is set to develop India’s single largest hyperscale data center with 500 MW capacity in Navi Mumbai with an investment of over Rs 20,000 crore, Economic Times reported.
The data center will be the first of its kind in India, occupying 14 buildings totaling 3 million square feet and running on up to 65% renewable energy.
Panchshil Realty's subsidiary, Gramercy Info Park, has paid Rs 900 crore, including consideration, levies, and charges for nearly 50 acres of land adjacent to Reliance Corporate Park in the Ghansoli neighbourhood of Navi Mumbai.
In two separate agreements, Gramercy Info Park has acquired the entire property area of MIDC Trans Thane Creek Industrial Area. Real estate data analytics firm Propstack provided the documentation for both deals, which were registered on 11 February.
This project marks the first significant Foreign Direct Investment since Blackstone recently reached an agreement with the Maharashtra government at Davos. At the event, the US-based asset manager signed three agreements as part of its plan to expand in India's real estate and digital infrastructure markets.
In January 2025, the Blackstone group announced to invest around $11bn in Maharashtra over the next three to five years. At the World Economic Forum in Davos, the US-based investor and the Maharashtra government signed three significant agreements. Leading the state delegation, Chief Minister Devendra Fadnavis hailed the partnership as a major boost to the state’s infrastructure and economy.
Of the total investment, Mumbai will receive approximately $5bn. Mumbai 3.0 is the state government's ambitious initiative to develop a third city, aimed at expanding the capacity of Mumbai, the nation's financial hub, and Navi Mumbai, its satellite city.
In collaboration with the City & Industrial Development Corporation of Maharashtra (CIDCO) and the Maharashtra Industrial Development Corporation (MIDC), around $6bn will be invested in data centres and other infrastructure projects across the Mumbai Metropolitan Region (MMR).
With over $50bn in assets under management since entering the Indian market in 2005, Blackstone has already established itself as a key player. Maharashtra, which has received 40% of Blackstone's investments, has been a primary beneficiary.