Blackstone Group, in partnership with Panchshil Realty, is set to develop India's largest hyperscale data centre in Navi Mumbai with a 500 MW capacity and an investment exceeding Rs 20,000 crore. The facility, spanning 14 buildings and over three million sq ft, will be powered by up to 65 percent green energy, making it the country’s first sustainable data centre of this scale.

This marks the first foreign direct investment (FDI) after Blackstone’s recent investment pact with Maharashtra at Davos, where it signed three agreements to expand in India’s property and digital infrastructure sector. Panchshil Realty’s subsidiary, Gramercy Info Park, has acquired nearly 50 acres of land in Ghansoli area in Navi Mumbai for Rs 900 crore to initiate the project. The land, located in MIDC Trans Thane Creek Industrial Area, was secured in two transactions registered on 11 February.

The data centres, under Lumina CloudInfra, are also being developed in collaboration with Panchshil Realty. Blackstone, a major investor in India with over USD 50 billion in assets under management, has allocated around 40 percent of its funds to Maharashtra.