Lodha Developers targets ₹9,000 crore from selling 150 acres in Palava to hyperscalers, aiming to scale data centre capacity and boost annuity income.
Lodha Developers Ltd plans to raise ₹9,000 crore by selling 150 acres of land at its Green Data Centre Park in Palava, near Mumbai, managing director Abhishek Lodha said on an analyst call Monday.
The developer is targeting ₹2,000–3,000 crore in annual land sales to hyperscalers. Land prices in the area have climbed sharply as demand for data centre sites surges.
“India has emerged as a strong location for data centres. We have three leading operators now at the park. We want to further scale up and hope to increase capacity. Capacity attracts further demand,” Lodha said.
Over the past two years, the company has sold about 132 acres at Palava to Amazon Web Services and STT Data Centres. In the June quarter, it sold 30 acres to Digital Edge India, a joint venture between Digital Edge (Singapore) and the National Investment and Infrastructure Fund, at more than ₹42 crore per acre.
Lodha holds roughly 3,700 acres across Palava and Upper Thane in the Mumbai Metropolitan Region, according to its latest investor presentation. Infrastructure projects in and around Palava, including bullet train connectivity, are expected to push land values higher, the company said.
Most of the sale proceeds will go toward developing 1 gigawatt of build-to-suit data centre power shell capacity on about 90 acres. Power shells are bare, ready-to-use buildings with power and cooling systems. Lodha will lease the space to operators or hyperscalers, generating annuity income.
The company’s rental income stood at ₹300 crore at the end of fiscal 2025-26. Lodha expects it to grow to roughly ₹3,000 crore in six years, with the bulk coming from data centres.
Lodha reported a two-fold jump in net profit to ₹1,373 crore for the June quarter, driven by a 43% year-on-year rise in revenue to ₹4,996.7 crore. Pre-sales rose 4% to ₹4,629 crore despite no fresh launches. The developer is targeting ₹24,000 crore in pre-sales from housing this fiscal year, up from ₹20,530 crore in FY26. Net debt fell by ₹446 crore to ₹4,931 crore during the quarter.
The business is split into three verticals: DevCo (residential development), RentCo (annuity or rental business) and LandCo.
Execution on the land sale plan will depend on sustained demand from hyperscalers and timely infrastructure development in the Palava region, analysts said. Competition from other data centre hubs and regulatory approvals for power shell construction also factor into the timeline. Lodha’s ability to convert land sales into recurring rental income will determine how quickly annuity earnings scale up.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.