Blackstone Group, the world’s largest alternative asset manager, in partnership with Panchshil Realty, is set to build India’s largest hyperscale data centre in Navi Mumbai with a capacity of 500 MW. According to the Economic Times, the project involves an investment of over ₹20,000 crore.

This will be India's first data centre, spanning 3 million square feet across 14 buildings and operating on up to 65% renewable energy.

Panchshil Realty's subsidiary, Gramercy Info Park, has already paid ₹900 crore, covering land costs, levies and charges, for nearly 50 acres of land near Reliance Corporate Park in Navi Mumbai’s Ghansoli area.

Gramercy Info Park has acquired the entire land area of MIDC Trans Thane Creek Industrial Area through two separate agreements. The deals, documented by real estate data analytics firm Propstack, were officially registered on February 11.

This addition represents the first substantial Foreign Direct Investment since Blackstone recently secured an agreement with the Maharashtra government at Davos. During the event, the US-based asset manager signed three agreements as part of its strategy to expand in India's real estate and digital infrastructure sectors.

In January 2025, Blackstone Group revealed plans to invest around $11 billion in Maharashtra over the next three to five years. During the World Economic Forum in Davos, the US-based investment firm signed three key agreements with the Maharashtra government. Chief Minister Devendra Fadnavis, who led the state delegation, described the partnership as a significant boost for Maharashtra’s infrastructure and economy.

Out of the total investment, approximately $5 billion will be allocated to Mumbai. This funding will support Mumbai 3.0, a state government initiative to create a third city to ease pressure on Mumbai, the country’s financial hub, and Navi Mumbai, its satellite city.

In partnership with the City & Industrial Development Corporation of Maharashtra (CIDCO) and the Maharashtra Industrial Development Corporation (MIDC), the data centres and other infrastructure projects will get an investment of approximately $6 billion across the Mumbai Metropolitan Region (MMR).

Since entering the Indian market in 2005, Blackstone has managed assets worth over $50 billion, making it a significant player. Maharashtra has been a major recipient, accounting for 40% of Blackstone's total investments.