Princeton Digital Group to Launch India's Largest Data Center Hub
Princeton Digital Group (PDG), a leading global player in data center operations, has announced a pivotal collaboration with K Raheja Corp-backed Mindspace Business Parks REIT to establish its largest data center campus in India at Mindspace Airoli West. This partnership highlights the commitment of both firms to enhance their footprint in the swiftly expanding data center market.
Under the terms of the agreement, Mindspace REIT will develop three additional built-to-suit data centers, adding a remarkable 1 million square feet to PDG’s growing portfolio. This follows the successful construction of two data centers by the REIT, which total nearly 0.63 million square feet. Once these new facilities are operational, the Airoli business park will comprise five data center buildings, increasing the overall data center footprint in the Mindspace REIT portfolio to around 1.65 million square feet. The entire project will span over 15 acres and form part of a larger 50-acre campus ecosystem at Mindspace Airoli West.
Ramesh Nair, CEO of Mindspace REIT, expressed enthusiasm for the partnership, noting, “This agreement solidifies our strategy to diversify our portfolio and explore high-growth sectors like data centers. Incorporating data centers into our portfolio is a strategic move, as they provide stable, long-term revenue streams and enhance our income diversity”.
Mindspace REIT intends to offer PDG a full spectrum of turnkey services, including customized power infrastructure designed to meet sustainability objectives. This initiative underscores the REIT’s commitment to facilitating digital transformation while ensuring environmental stewardship.
Navi Mumbai is quickly emerging as a vital hub for cloud infrastructure, thanks to its advantageous location near submarine cable landing stations, reliable power supply without outages, access to renewable energy, and strong infrastructure. This micro-market is also particularly conducive to the advancement of AI technologies, making it an ideal site for AI-focused data center campuses.
As demand for data centers in India continues to surge, global institutional investors and major developers are increasingly viewing the Indian market as a prime opportunity for growth. Recent years have seen a substantial influx of investments into the country’s data center sector, resulting in the creation of multiple primary markets and accelerating campus expansions akin to those in established global cities. The government’s data localization regulations and new data center policy are expected to streamline compliance and facilitate essential approvals, further accelerating this growth.
