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CapitaLand Investment India envisions a robust investment of SGD 7-8 billion in the next 3–4 years, focusing on expanding its footprint across over 50 million square feet in both IT Parks and the industrial and logistics sectors. Sanjeev Dasgupta, the CEO of CapitaLand Investment India, highlights India's pivotal role in the global landscape, especially as a premier IT service provider with soaring data consumption. Dasgupta additionally holds the position of executive non-independent director for CapitaLand India Trust Management, which oversees CapitaLand India Trust. This intricate leadership position places him as the newly appointed CEO of CLI India, the entity that currently holds and conducts the CapitaLand Investment business in India.
During the pandemic, India's significance in IT services gained prominence, coupled with the world's highest per capita data consumption. Dasgupta emphasizes the surge in cloud infrastructure and the arrival of significant hyper scalers, which are driving the growth trajectory of data centres. Concurrently, the landscape of the industrial and logistics sectors underwent a transformation during the pandemic. The e-commerce sector propelled the growth, and now, with the shift of manufacturing bases from across Asia to India, multinational companies are driving demand. India's cost-effective labour pool, particularly in comparison to China, and the diversification endeavours of US companies bolster this trend. Furthermore, India's Production-Linked Incentive (PLI) scheme serves as a magnet, attracting companies to establish their manufacturing roots in the country.
A progressive leap into renewable energy also marks CapitaLand's horizon. Initiating a 29 MW solar power plant in Tamil Nadu's Tuticorin, the venture aims to cater to the escalating energy demands of their data centres and IT Parks. This strategic move aligns with the trend of manufacturing companies pivoting towards renewable energy to meet environmental and social governance (ESG) mandates, creating a substantial opportunity. While enhancing its renewable energy portfolio, CapitaLand envisions venturing into real estate lending shortly, unveiling another facet of its diversified strategy.
As of now, CapitaLand Investment India oversees 22 million square feet of operational IT Parks and 7.5 million square feet of operational industrial logistics across diverse Indian cities. The aspiration is to eclipse 50 million square feet within the next 3–4 years, reflecting their ambitious growth journey. Presently, IT Parks maintains a commendable occupancy rate of above 90%, with a lease renewal rate of 83% in the last quarter. With an eye on the future, CapitaLand Investment India envisions increasing its assets under management from SGD 4 billion to SGD 7-8 billion in the forthcoming years. The focus is squarely on India, where they perceive substantial potential.
The company's commitments also extend to sustainable practices. An investment of SGD 500 million is anticipated for the current financial year, while projects like the Rs 6,200 crore investment in Tamil Nadu further demonstrate CapitaLand's dedication to growth and development. In essence, CapitaLand Investment India is positioning itself as a significant player in India's real estate landscape. As data centres, industrial and logistics sectors, and renewable energy beckon, the company is poised to leave a transformative mark, capitalizing on India's growing stature in the global business arena.
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