Anant Raj plans to invest Rs 10,000 crore in a 300 MW data center
By siliconindia | Monday, September 4, 2023
Delhi-based real estate developer Anant Raj Limited plans to develop 300 MW data center buildings with a total investment of 10,000 crore in the next few years, stated its managing director Amit Sarin. Having previously constructed three IT buildings in Manesar, Rai, and Panchkula in Haryana, the company is presently in the process of transforming these buildings into data centers, "The three projects possess the potential to accommodate 300 MW of data, and we benefit from having pre-existing structures that simply need to be adapted to meet the specifications essential for a data center. The initial phase of Manesar Park is ready with a 21 MW capacity, and the complete project is designed for a total capacity of 50 MW," stated Sarin.
Industry experts have projected demand for about 20 million square feet of data center space across key cities in the next four to five years. Anant Raj holds 1.2 million square feet in Manesar on a 10-acre site, 2.1 million square feet on a 25-acre plot in Rai (with the possibility of doubling capacity), and 500,000 square feet on a 10-acre land in Panchkula (with expansion options). "In Manesar, we have the potential to reach 50 MW, while Rai can accommodate a 200 MW data center. Additionally, Panchkula can support a 50 MW data center. We've initiated the process with Manesar and plan to proceed with converting other buildings based on market demand," said Sarin.
A megawatt of data center capacity costs 55-60 crore, according to industry experts. However, Anant Raj is doing it at 25 crores per MW, benefiting from its long-held land ownership and existing building structures. Operating within the residential real estate sector, the company has established a subsidiary named Anant Raj Cloud Pvt. Ltd. to manage its data center operations.
India is witnessing robust growth in the data center market as it is the second-fastest-growing digital economy in the world. Cloud spending is expected to grow at a compound annual growth rate of 30%. India's data center market has witnessed transactions for about 500 acres of land, led by Mumbai (45%) and followed by Hyderabad (26%) and Pune (14%). Since its establishment in 1969 as a construction company, Anant Raj has undertaken projects for the Delhi Development Authority and other government departments.
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