As per industry sources, Hiranandani group will invest around Rs 85 billion over the next three years to develop data centres and industrial parks across various cities.
Earlier in 2019, Hiranandani Group, through its new business venture Yotta Infrastructure, had forayed into development of data centre parks.
The first data centre is being set up at Panvel. The first phase of this project comprising 820,000 sq ft was inaugurated in July 2020.
Going forward, Yotta Infrastructure is planning to invest around Rs 50 billion over the next 3 years in an effort to capture about 25 per cent of market by end of FY 2025. Further, the company has said that the investment will increase substantially over the next 7-10 years.
Likewise, Hiranandani group will invest Rs 35 billion over the next three years to develop industrial parks across various locations. This will be done via a joint venture with global investment firm Blackstone.
The company is planning to finance these investments through equity and bank loans.
