CapitaLand to Invest Over Rs 19,200 Crore in Maharashtra by 2030
CapitaLand Investment Ltd (CLI) has signed an MoU with the Maharashtra government to invest over Rs 19,200 crore in Mumbai and Pune by 2030, focusing on business parks, data centers, logistics, and industrial assets.
CapitalandMaharashtraReal EstateData CentersBusiness ParksReal Estate MumbaiAug 12, 2025
The announcement coincided with the launch of CLI’s first data center in India at Navi Mumbai. This marks a strategic move to expand CLI's footprint in the region and capitalize on the growing demand for data infrastructure.
CLI entered Maharashtra in 2013 through the development of International Tech Park Pune in Hinjawadi, in collaboration with the Maharashtra Industrial Development Corporation (MIDC). Over the past decade, the company has invested over Rs 6,800 crore (S$1 billion) in 10 assets, including business parks, data centers, and logistics facilities in the state.
The fresh commitment is part of CLI’s broader India growth plan, which aims to expand its funds under management from over S$8 billion to about S$15 billion by 2028. This ambitious target reflects CLI's confidence in the Indian market and its potential for sustained growth.
“India is a core market for CLI, and Maharashtra, with its strong economic fundamentals and well-developed IT and industrial ecosystem, presents significant opportunities for us to grow our footprint,” said Sanjeev Dasgupta, CEO of CLI India. “We will continue to scale our investments in Maharashtra through our listed trust, private funds, and the Ascendas-Firstspace platform.”
CLI currently operates five business parks in the state, with 9.7 million square feet of leasable space and plans to add 4.5 million square feet more. Four of these parks — ITPP-H, aVance Pune I & II, and Aurum Q Parc in Mumbai — are held via CapitaLand India Trust (CLINT), Asia’s largest India-focused property trust listed in Singapore. The fifth, International Tech Park Pune, Kharadi, is held under the Ascendas India Growth Programme.
On the data center front, CLINT operates four facilities in Mumbai, Bangalore, Chennai, and Hyderabad with a total planned capacity of 244 MW. The Navi Mumbai data center’s first tower, with 54 MW capacity, is fully leased and operational, while a second tower of similar capacity is in early development.
In logistics and industrial assets, CLI holds five parks in Mumbai and Pune under Ascendas-Firstspace, totaling 5.3 million square feet. Additionally, a 1.2 million square feet warehousing park in Panvel is held under CLINT. A 17 million square feet pipeline is in development to cater to the growing demand from e-commerce, manufacturing, and third-party logistics sectors.
With more than three decades in India, CLI’s portfolio now spans over 55 assets across eight cities, including IT and business parks, coworking, industrial, logistics, lodging, and data centers. This extensive presence underscores CLI's long-term commitment to the Indian market and its strategic vision to capitalize on the region’s economic potential.
Frequently Asked Questions
What is CapitaLand Investment Ltd (CLI)?
CapitaLand Investment Ltd (CLI) is a Singapore-headquartered real estate company that invests in various sectors including business parks, data centers, logistics, and industrial assets.
How much is CLI planning to invest in Maharashtra by 2030?
CLI plans to invest over Rs 19,200 crore (S$2.83 billion) in Maharashtra by 2030.
What are the key sectors CLI is focusing on in Maharashtra?
CLI is focusing on business parks, data centers, logistics, and industrial assets in Maharashtra.
When did CLI enter the Maharashtra market?
CLI entered the Maharashtra market in 2013 through the development of International Tech Park Pune in Hinjawadi.
What is the target for CLI's funds under management by 2028?
CLI aims to expand its funds under management from over S$8 billion to about S$15 billion by 2028.
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