Princeton Digital Group to Establish India's Largest Data Center Hub
Princeton Digital Group (PDG), a global leader in data center operations, has announced a significant partnership with K Raheja Corp-backed Mindspace Business Parks REIT to create its largest data center campus in India, located at Mindspace Airoli West. This strategic agreement underscores both companies' commitment to expanding their presence in the rapidly growing data center market.
As part of the deal, Mindspace REIT will construct three additional built-to-suit data centers, which will contribute an impressive 1 million square feet to PDG’s expanding portfolio. This follows the successful development of two data centers by the REIT, covering nearly 0.63 million square feet. Once the new facilities are completed, the Airoli business park will feature five data center buildings, bringing the total data center footprint within the Mindspace REIT portfolio to approximately 1.65 million square feet. The entire development will occupy over 15 acres and be part of a larger 50-acre campus ecosystem at Mindspace Airoli West.
Ramesh Nair, CEO of Mindspace REIT, commented on the partnership, stating, “This deal reinforces our commitment to diversifying our portfolio and tapping into high-growth sectors like data centers. Integrating data centers into our portfolio makes strategic sense as they offer stable, long-term revenue streams and help diversify income sources”.
Mindspace REIT plans to provide PDG with a comprehensive range of turnkey services, including tailored power infrastructure that aligns with sustainability goals. This initiative reflects the REIT’s dedication to supporting digital transformation while maintaining environmental responsibility.
Navi Mumbai is rapidly emerging as a key hub for cloud infrastructure, driven by its strategic location near submarine cable landing stations, a stable power supply with zero outages, availability of renewable energy, and robust infrastructure. This micro-market is also well-suited for the growth of AI technologies, making it an ideal location for AI-enabled data center campuses.
With the rising demand for data centers in India, global institutional investors and leading developers are increasingly viewing the Indian market as an attractive growth opportunity. In recent years, significant investments have flowed into the country’s data center sector, creating multiple primary markets and facilitating the rapid expansion of campus sizes comparable to established global cities. The government's data localization norms and new data center policy are expected to simplify regulations and provide essential clearances, further fueling this growth.