1 month ago
Lodha Developers to Raise ₹9,000 Crore
Lodha Developers, a big real estate company in Mumbai, wants to sell 150 acres of land in Palava to companies that build data centers.
They plan to raise ₹9,000 crore from this sale.
The company has already sold land to big companies like Amazon Web Services and STT Data Centres.
They believe this will help them build more data centers and make a lot of money from renting out the space.
The land in Palava is becoming more valuable because of new infrastructure projects, like a bullet train.
Lodha Developers also reported a big increase in profits and revenue recently.
Lodha Developers plans to raise ₹9,000 crore by selling 150 acres of land in Palava to hyperscalers.
The company has already sold 132 acres to Amazon Web Services and STT Data Centres over the last two years.
Lodha aims to generate ₹2,000-3,000 crore annually from land sales due to high demand for data center sites.
The company plans to use the proceeds to develop 1 GW of build-to-suit data center power shell capacity.
Lodha's rental income is expected to grow significantly to around ₹3,000 crore in six years.
- Who
- Lodha Developers Ltd
- What
- Plans to raise ₹9,000 crore by selling 150 acres of land in Palava to hyperscalers
- Where
- Palava, suburban Mumbai
- When
- Announced on Monday during an analyst call
- Why
- To capitalize on the robust demand for data center sites and increase rental income
Proponents of Land Sales
Critics of Land Sales
Economic Benefits
Proponents of Land Sales
Proponents argue that selling land to hyperscalers will bring significant economic benefits, including increased revenue and job creation.
Critics of Land Sales
Critics contend that selling land for data centers may lead to long-term economic imbalances and reduced land availability for other uses.
Infrastructure Development
Proponents of Land Sales
Proponents believe that the sale will attract further infrastructure development, such as bullet train connectivity, enhancing the region's value.
Critics of Land Sales
Critics argue that prioritizing data centers over other types of development may not benefit the local community as much.
Key facts
- Company
- Lodha Developers Ltd
- Land Area
- 660 acres earmarked for data centers
- Fundraising Goal
- ₹9,000 crore
- Land to be Sold
- 150 acres
- Annual Land Sales Target
- ₹2,000-3,000 crore
- Recent Land Sale
- 30 acres sold to Digital Edge India at over ₹42 crore per acre
- Total Land Holdings
- 3,700 acres in Palava and Upper Thane
- Rental Income Goal
- ₹3,000 crore in six years
Quotes
Abhishek Lodha
Managing Director of Lodha Developers Ltd.
“India has emerged as a strong location for data centres. We have three leading operators now at the (Green Data Centre) Park. We want to further scale up and hope to increase capacity. Capacity attracts further demand,”
livemint.com
Sources
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