Shares of Lodha Developers Ltd were trading 5% lower on 20 January after the company announced their plans to invest Rs 1 lakh crore for constructing a 2.5 gigawatt (GW) data centre park in Maharashtra. 

The filing said the investment plan adds to the Rs 30,000 crore commitment the real estate company made to the state government four months ago. The company announced the plan on the sidelines of the World Economic Forum in Davos.

Abhishek Lodha, managing director and CEO of Lodha Developers Ltd, said, “Over and above the Rs 30,000 crores commitment last year to develop the data centre park, we have signed another agreement with government of Maharashtra to invest additional Rs 1 lakh crore.” 

Abhishek added, “The state has already scaled newer heights under the leadership of Devendra Fadnavis, Hon’ble chief minister of Maharashtra. His vision and actions directed towards developed Maharashtra, gives us immense confidence in committing to such a large investment.”

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The company said the data centre park will become the largest in India, with a total investment of Rs 1.3 lakh crore and an estimated capacity of around 2.5 gigawatts.

In September, the Mumbai-based firm signed a memorandum of understanding with the Maharashtra government to invest Rs 30,000 crore in developing a data centre under the state’s Green Integrated Data Centre Park policy.

The company added that the fresh agreement for an additional Rs 1 lakh crore further strengthens the group’s long-term commitment to Maharashtra’s development.

The project will generate nearly 16,000 direct and indirect jobs over time and provide space for leading domestic and global companies.

The firm revealed that Amazon has already purchased land for its data centre and secured power arrangements for the next 15 years, while Singapore-based STT Global Data Centres has also acquired land within the park.

Through this initiative, the country’s second-most valuable real estate company aims to establish itself as a major player in India’s rapidly expanding data centre ecosystem.

At 12:10 pm, the shares of Lodha Developers were trading 4.09% lower at Rs 1,001.20 on NSE. 

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