How well evidenced is it
Running capacity. The site is operational or expanding. On record: named funder, dated, sized phase, three or more sources, dated source in the last 24 months. Criteria.
AI workloads
StatusLikely
Campus above 100MW with a 2026 expansion phase; PDG markets AI-ready capacity.
Access to AI chips
GradeNo US licence required
This country carries no US destination-based licence requirement for advanced AI chips as the rules are enforced today. Access is a commercial matter between the project and its vendors. Criteria.
Phases
Buildings 1 and 2 · Operational48 MW, target 2025
Expansion phase 1 (to five buildings) · Under construction100 MW
Stage history
2022-02-09Under construction · w.media
Who is behind it
OperatorPrinceton Digital Group · Colocation
Funder, EquityWarburg Pincus
Funder, EquityOntario Teachers' Pension Plan
Funder, EquityMubadala
Funder, EquityStonepeak
Who uses the compute
Checked on 2026-10-01. No user of this capacity is on the public record. ArusGrid read the operator's releases, the landlord's and contractors' exchange filings, regulator and lender documents and interconnection records. Most colocation leases are confidential, so this says nothing about occupancy.
Money at this site
ArusGrid estimate, building costabout US$847m to US$1.3bn
No figure has been announced. This range is 150 MW of planned IT load times a published benchmark of US$6.64 per watt for Mumbai, plus or minus 15 percent, with 10 percent more at the top for liquid cooling because the project is AI-positioned. It covers the building and its mechanical and electrical plant. It excludes land, grid works, servers and fees.
Benchmark: Turner & Townsend Data Centre Construction Cost Index 2025, as reported by Data Storage Asia. An estimate is never added to any total on the site.
Colocation price per kW of IT load per month
Observed, grade AINR 6,536
CRISIL's forward figure for stabilised annual revenue net of pass-through costs (Rs 400 crore from September 2025) over contracted MW (51 of 52.4), both stated in one rationale dated March 2025, 17-year hyperscale contract Electricity excluded. As of 2025-03. CRISIL Ratings, 2025-03-28
A rating agency's forward figure, dated before the period it describes, so it is a contracted rate and not a passing rent. It was used to check the India yield on cost and is excluded from calibration for that reason.
Project team
Design and build contractorMindspace Business Park REIT (via Gigaplex Estate Pvt Ltd) · Sep 2024 Reported source ↗ Develop three additional built-to-suit data centre buildings (~1 million sq ft) for PDG on 15 acres at Mindspace Airoli West, taking MU1 campus to 150 MW
Land
LandlordMindspace Business Parks REIT · 15 acres · Sep 2024 Reported source ↗ Mindspace REIT to develop three built-to-suit data centres (~1m sq ft) for PDG on 15 acres, part of a 50-acre campus; terms not shared in this source. The Realty Today (2025-05-08) reports leases of 20 and 40 years with a 15-year lock-in and total rent of Rs 10.42 crore a month across about 1m sq ft.
LandlordGigaplex Estate Pvt Ltd (Mindspace Business Parks REIT) · 1,058,000 sqft · leased · Apr 2025 Reported source ↗ Rent INR 10.42 crore a month in total. Leased built-up area, not land. Three agreements of about 3.15, 2.52 and 4.91 lakh sq ft at INR 3.10, 2.48 and 4.83 crore a month, registered on 1 April 2025. Part runs 20 years and part 40 years, with a 15-year lock-in. Rent rises 4 percent a year for 15 years, then 5 percent a year. Per property registration documents seen by CRE Matrix. 81 parking spaces.
Power supply
Renewable power dealTata Power Renewable Energy · Jun 2023 Confirmed source ↗ 25-year renewable supply for the 48MW MU1 campus
Renewable power dealTata Power Renewable Energy Ltd · Jun 2023 Confirmed source ↗ 25 year renewable power consumption agreement from a captive solar plant in Nanded district, Maharashtra, co-invested by PDG and Tata Power Renewables, aimed at up to 50 percent renewable power for MU1. · MW of the solar plant not stated. DCD on 2025-02-14 says MU1 sits next to the Kalwa substation.
Grid supplyGigaplex Estate Pvt Ltd (deemed distribution licensee for the Airoli Knowledge Park IT/ITES SEZ) · Dec 2016 Inferred by ArusGrid source ↗ MERC says Gigaplex Estate is the developer of the notified SEZ at Plot No. IT-5, Airoli Knowledge Park, and a deemed distribution licensee that supplies electricity to consumers in that area. The licence area was revised from 11.74 ha to 12.91 ha. · Applies to the whole campus.
Why we think so. MU1 sits at Plot No. IT-5, Airoli Knowledge Park (TIA-942 registry and MPCB consent agenda). MERC names Gigaplex as the distribution licensee for the SEZ at the same plot. No source names Gigaplex as MU1's supplier directly.
Dedicated substationOn-site 220kV substation (utility not named) · 220kV · Feb 2022 Reported source ↗ PDG said in a LinkedIn post quoted by W.Media that the MU1 phase 1 plinth was complete and that the on-site 220kV substation, high speed diesel yard and diesel generator buildings were progressing. · Applies to the whole campus.
Renewable power dealCleanMax · 13.2 MW · Jun 2026 Confirmed source ↗ Solar plant at Amravati · The report also cites 12.5MW of captive solar covering about 26 percent of use. · Applies to the whole campus.
Water and cooling
CoolingHybrid air and liquid cooling Reported source ↗ MU1 offers hybrid cooling capabilities designed for AI workloads.
Coolingdesign PUE <1.5 Confirmed source ↗ Design PUE below 1.50. A second water treatment plant is due in Q3 2026.