CapitaLand India Trust Secures Rs. 1,300-Crore Loan from JP Morgan for Data Centre Expansion

CapitaLand India Trust has finalized a five-year construction loan of Rs. 1,300 crore (approximately 214 million Singapore dollars) from JP Morgan India to fund the initial phase of its data centre development in Navi Mumbai.

In a statement, CapitaLand highlighted that this onshore loan acquisition underscores the company's commitment to disciplined capital management by diversifying its funding sources.

The construction of the 108 MW data centre has already commenced and is slated for completion by mid-2025. Positioned to cater to global technology giants, cloud service providers, and large domestic enterprise clients, the data centre represents a significant step in CapitaLand's expansion strategy in the data services sector.

CapitaLand India Trust, listed on the Singapore Stock Exchange, is concurrently engaged in the development of three additional data centres in India. As of September 30, the company's assets under management stood at Rs. 16,527 crore.

Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Pte, emphasized the importance of disciplined capital management, stating, “CLINT remains disciplined in capital management. Securing this onshore loan in India would diversify our funding sources and help us optimise our funding costs.” This move aligns with CapitaLand's strategic approach to ensuring financial resilience and flexibility in its development ventures.

HBL