CapitaLand India Trust unlocks ₹1,103 cr via divestment of IT park assets

CapitaLand India Trust will divest CyberVale in Chennai and CyberPearl in Hyderabad for Rs 1,103 crore at a 3% premium to valuation, its first exit since 2007 listing

CapitaLand India Trust (CLINT) has signed an agreement to divest two information technology (IT) park assets, CyberVale in Chennai and CyberPearl in Hyderabad, for Rs 1,103.1 crore to an unrelated third party, marking its first such exit since listing on the Singapore Exchange in 2007.

 

The assets are being divested at about a 3 per cent premium to their independent valuations as of 31 December 2024. Net proceeds are expected to be Rs 1,082.8 crore or approximately SGD 158.8 million. The sale is part of CLINT’s strategy to reconstitute its portfolio, unlock asset value, and improve financial agility, the company said in a statement on Thursday.

 

CyberVale comprises a 0.8 million square feet (msf) IT special economic zone and 0.2 msf free trade warehousing zone in Mahindra World City, Chennai. CyberPearl, located in HITEC City, Hyderabad, is a 0.4 msf IT park. Together, the assets cover 1.4 msf.

 

Gauri Shankar Nagabhushanam, chief executive officer of CapitaLand India Trust Management (the trustee-manager of CLINT), said, “The divestment of CyberVale and CyberPearl marks the start of our capital recycling strategy to optimise CLINT’s portfolio and strengthen financial agility. The proceeds can be used to repay debt, recycle capital into higher-yielding projects, and enhance distributions to unitholders. With our strong balance sheet, we will continue pursuing attractive and accretive opportunities to deliver sustainable returns.”

 

Following the transaction, CLINT’s completed floor area across its portfolio will stand at 21.2 msf. As of 30 June 2025, the Singapore-listed trust’s assets under management (AUM) were SGD 3.7 billion. CLINT has set a target to grow its AUM to SGD 6 billion within four years.

 

CLINT has expanded its portfolio at a compound annual growth rate of about 11 per cent, from 3.6 msf in 2007 to 22.7 msf in 2025 (pre-divestment), largely through third-party acquisitions and the development of land parcels already owned within the portfolio.