CapitaLand Invests ₹19,200 Cr in Maharashtra

Mumbai, Aug 13 (PTI) Singaporean firm CapitaLand Investment Ltd (CLI) has signed an initial pact with the Maharashtra government for a planned investment of over Rs 19,200 crore (2.83-billion Singaporean dollar) in the state by 2030 in data centres, logistics, industrial and business parks.
The mega investment will help fuel CLI's growth plans in two key markets in Maharashtra -- Mumbai and Pune, a company statement said here.
Maharashtra, where CapitaLand has its presence since 2013, has been a steadfast partner in the company's growth journey over the past decade, and it values the strong support and collaboration with the state, CLI said.
Earlier on Tuesday, the investment amount was inadvertently reported as Rs 9,200 crore (2.3 billion Singaporean dollar).

This planned investment was announced at the inauguration of the company's first data centre in Navi Mumbai on Tuesday.
The event was attended by Singapore Deputy Prime Minister Gan Kim Yong, Jeffrey Siow, Acting Minister for Transport and Senior Minister of State for Finance of the city-state, Maharashtra Chief Minister Devendra Fadnavis, Manohar Khiatani, Chairman, CapitaLand India Trust (CLINT) and Senior Executive Director, CLI and Sanjeev Dasgupta, Chief Executive Officer, CLI India, among others.
The proposed investment is a part of the company's broader growth strategy for India, where it aims to increase its funds under management from over 8 billion Singaporean dollar to some 15 billion Singaporean dollar by 2028, the statement said.
Over the past decade, the company said it has significantly expanded its footprint in Mumbai and Pune, investing over Rs 6,800 crore (1 billion Singaporean dollar ) across 10 assets spanning business parks, data centres and logistics facilities.
Pan-India, the company has built a well-diversified portfolio comprising over 55 IT and business parks, coworking, industrial, logistics, lodging and data centre assets across eight cities -- Bengaluru, Chennai, Goa, Gurgaon, Hyderabad, Kolkata, Mumbai, and Pune.