Blackstone to invest nearly ₹5,000 crore to develop data centre in MMR

Blackstone to invest ₹5,000 crore in 60 MW data centre in Chandivali; India DC sector set for exponential growth with AI, cloud, and 5G demand

Blackstone, the New York-based global investment management firm, will invest about ₹5,000 crore to develop a 60 megawatt (Mw) data centre in Chandivali, a part of the Mumbai metropolitan region (MMR), through Lumina CloudInfra, the company’s data centre (DC) platform in India, according to people familiar with the matter.

 

Lumina CloudInfra bought 3.8 acres in Chandivali for ₹475 crore. The transaction was registered on September 19, according to registration documents provided by CRE Matrix, a real estate data analytics firm.

 

With the Chandivali project, Blackstone’s DC investments in India will be around ₹50,000 crore. Globally, Blackstone is the largest owner and DC provider, with a DC portfolio worth $100 billion. Blackstone and Lumina CloudInfra declined to comment on queries related to the development.

 

Lumina CloudInfra is a national DC player with a presence across three major Indian cities and a capacity to handle complex DC requirements for all hyperscalers, such as artificial intelligence (AI), cloud, and advanced design, among others.

 

The firm already has DC projects at two sites in Navi Mumbai, with 180 Mw of capacity building underway and 30 Mw already built. It also has two sites in southern India where 240 Mw of capacity is under construction and 120 Mw of capacity is built. Overall, more than 600 Mw of capacity is underway, making Lumina one of the largest DC platforms

in India.

 

Additionally, Blackstone has emerged as one of the largest foreign investors in India, with assets under management of over $50 billion since its inception. It is the largest real estate investor in India, with a portfolio estimated at $30 billion across office, retail, logistics, hospitality, residential and DCs. Blackstone views India as a long-term growth market within its global portfolio while committing about $2 billion of investments in the country annually.

 

The DC segment across India is booming amid growing cloud adoption, artificial intelligence, 5G rollouts, and digitisation. The Indian data centre industry has witnessed exponential growth between 2019 and 2024, recording a 139 per cent increase in capacity, scaling from 590 Mw in 2019 to 1.4 Gw in 2024.

 

According to Anarock Capital, India’s data centre industry has over $6.5 billion in investments committed through private equity, joint ventures, and acquisitions between 2014 and 2024, with Mumbai accounting for 49 per cent of these investments. According to Colliers, India’s DC capacity stands at 1,263 Mw as of April 2025. It’s set to cross 4,500 Mw of capacity by 2030 and is likely to attract investments to the tune of $20-25 billion.