CapitaLand India raises Rs 1,300 crore onshore loan for Navi Mumbai data centre

CHENNAI: CapitaLand India Trust (CLINT) has secured a five-year construction loan of Rs 1,300 crore (approximately S$214 million) from JP Morgan India to finance the phase 1 development of its data centre in Navi Mumbai.
The construction of the data centre has commenced and is scheduled for completion by mid-2025.
The data centre will have a power capacity of 108 MW to service global technology giants, cloud service providers and large domestic enterprise clients.Besides its data centre in Navi Mumbai, CLINT currently has three other data centres under development in India.
"Securing this onshore loan in India would diversify our funding sources and help us to optimise our funding costs," Sanjeev Dasgupta, CEO, CapitaLand India Trust, said.
CapitaLand India Trust (CLINT), formerly known as Ascendas India Trust, is listed on the Singapore Exchange Securities Trading. Its principal objective is to own income-producing real estate used primarily as business space in India.
CLINT’s portfolio includes nine IT business parks, one logistics park, one industrial facility and four data centre developments in India with a total completed floor area of 19.2 million square feet spread across Bangalore, Chennai, Hyderabad, Pune, and Mumbai.
As of September 30, CLINT’s assets under management stand at S$2.7 billion.