Lodha Developers plans to develop 1 Gw data centre power shell in MMR

Realty major Lodha plans to build 1 GW data centre capacity in MMR, investing up to Rs 11,000 crore as it expands its annuity-driven digital infrastructure business

Lodha Developers plans to develop around 1 gigawatt (GW) of build-to-suit data centre power shell capacity in Palava near Mumbai, entailing an incremental cost of ₹10,000–11,000 crore, as the realty major sharpens its push into annuity-generating digital infrastructure. 

 

The investment, to be deployed across nearly 100 acres of its 400-acre data centre park, will be largely self-funded through monetisation of the remaining land parcels, the company said during its Q4 FY26 earnings call on Monday. 

 

The company has earmarked 400 acres of shovel-ready land at Palava for a data centre park, for which it has so far secured two anchor operators, Amazon Web Services and  STT Global Data Centre.

   

“We are now planning to develop about 1 GW of power shell capacity on a build to suit basis on about 100 acres with incremental cost in 2026 terms of about ₹10,000 crore to ₹11,000 crore, largely self funded from the ongoing land sales in the park which we expect value to reach ₹70 crore per acre over the next few years and total to generate over ₹12,000 crore from FY27 and onwards in landfills value,” said Abhishek Lodha, managing director and chief executive officer, Lodha Developers.

 

In January 2026, Lodha signed a memorandum of understanding (MoU) with the government of Maharashtra to invest ₹1 trillion, in addition to its earlier investment commitment of ₹30,000 crore, to develop a 2.5 GW data centre park in the state. 

 

The company’s FY26 rental income stood at ₹290 crore and aims to grow it 10x over the next six years, providing diversity to its business. 

 

The company has 3,900 acres of land at Palava and Upper Thane in the Mumbai metropolitan region (MMR), which is expected to deliver over ₹10 trillion of sales over the next three decades with 50 per cent of Ebitda margins. 

 

In FY26, Lodha recorded pre-sales of ₹20,530 crore, up 16 per cent year-on-year (YoY).

 

The company missed its pre-sales guidance for the year, as March saw a select deferral of sales due to the Iran war, leading to pre-sales being ₹470 crore below the FY26 guidance (₹21,000 crore). 

 

“We had some shortfall in sales from NRIs who were based in West Asia. We had some shortfall in closures in the luxury segment, because everybody was just grappling with what had suddenly happened. We don’t expect any persistent sort of single segment impact of this war, and we think it was just the shock of the event, and we expect things to normalise unless there is a persistent energy shock,” Lodha said.

 

Further, he added that there is an impact of the West Asia crisis on construction costs. Construction cost increases, estimated to be 3 per cent to 5 per cent of overall construction cost, are mainly driven by gas-dependent categories like tiles, paints, and PVC pipes. “There has been some impact in select categories, but the overall impact on margin is very, very nominal.” 

 

Further, Lodha has identified that the launch pipeline for FY27 stands ₹21,800 crore of Gross Development Value (GDV). The launch guidance excludes the potential two launches in NCR which Lodha expects to start construction in the next quarter, and projects slated for Q4 FY27 or early in FY28. The two projects that it has signed are in Gurugram with a GDV of about ₹3,300 crore. 

 

“There is a large and significant opportunity in the NCR if we can pull off our operational and brand capabilities in the same way that we have done in other markets,” Lodha added.