Key Takeaways
- • RMZ Group plans to deploy USD 35 billion across India over five years, split equally between digital infrastructure (data centres, AI factories) and real estate (commercial office, residential projects), with funding via a mix of debt and equity.
- • The company is targeting 1.5 gigawatts of co-location data centre capacity at a capital investment of USD 12–15 billion, partnering with Colt (a subsidiary of Devonshire, the family office of Fidelity's Abigail Johnson) across Navi Mumbai, Chennai, Visakhapatnam, Hyderabad, and Bangalore.
- • RMZ is evaluating an initial public offering (IPO) to secure permanent, long-term capital for the expansion, though no IPO timeline or terms have been disclosed.
- • Near-term commitments include 750 megawatts of capacity additions in Navi Mumbai and 485–500 megawatts in Vizag (Visakhapatnam) following a formal agreement with the Andhra Pradesh government.
- • India currently generates approximately 20% of global data but accounts for only 2% of global data centre capacity; RMZ's expansion aligns with the Union Budget 2026-27's 21-year tax holiday for foreign cloud providers and USD 160 billion in national data centre commitments and announced projects.
Summary
RMZ Group, the Bengaluru-headquartered real estate and infrastructure firm, announced on April 14, 2026, a USD 35 billion investment pipeline spanning the next five years across digital infrastructure and real estate projects in India. The capital allocation is split evenly, with approximately USD 17.5 billion earmarked for digital infrastructure—including co-location data centres and AI factories—and the remainder directed toward mixed-use commercial office developments and residential projects. The company intends to fund this expansion through a combination of debt and equity financing.
The digital infrastructure component represents a strategic pivot toward high-growth computing infrastructure. RMZ is targeting 1.5 gigawatts of co-location data centre capacity at a capital outlay of USD 12–15 billion over five years. The company is executing this initiative in partnership with Colt, a subsidiary of Devonshire (the family office of Fidelity's Abigail Johnson), with projects spanning five major Indian cities: Navi Mumbai, Chennai, Visakhapatnam, Hyderabad, and Bangalore. Near-term capacity additions include 750 megawatts in Navi Mumbai and 485–500 megawatts in Visakhapatnam, the latter following a formal agreement with the Andhra Pradesh government.
RMZ's expansion strategy is underpinned by favorable macroeconomic conditions. India currently generates approximately 20% of global data but provides only 2% of global data centre capacity, creating a substantial arbitrage opportunity. The Union Budget 2026-27 has further strengthened the investment thesis by proposing a 21-year tax holiday for foreign cloud providers utilizing India-based data centres. At the national level, approximately USD 70 billion has already been committed to the data centre sector, with an additional USD 90 billion in announced projects, indicating sustained sector momentum and competition for capacity.
To fund this ambitious expansion, RMZ is actively considering an initial public offering to secure permanent, long-term capital. However, the company has not disclosed IPO timing, size, or valuation expectations. The move reflects confidence in both market conditions and the company's ability to execute on its strategic objectives. The expansion underscores RMZ's repositioning from a traditional real estate developer into a diversified infrastructure player, capitalizing on India's emerging role as a critical data centre hub in Asia.
The digital infrastructure component represents a strategic pivot toward high-growth computing infrastructure. RMZ is targeting 1.5 gigawatts of co-location data centre capacity at a capital outlay of USD 12–15 billion over five years. The company is executing this initiative in partnership with Colt, a subsidiary of Devonshire (the family office of Fidelity's Abigail Johnson), with projects spanning five major Indian cities: Navi Mumbai, Chennai, Visakhapatnam, Hyderabad, and Bangalore. Near-term capacity additions include 750 megawatts in Navi Mumbai and 485–500 megawatts in Visakhapatnam, the latter following a formal agreement with the Andhra Pradesh government.
RMZ's expansion strategy is underpinned by favorable macroeconomic conditions. India currently generates approximately 20% of global data but provides only 2% of global data centre capacity, creating a substantial arbitrage opportunity. The Union Budget 2026-27 has further strengthened the investment thesis by proposing a 21-year tax holiday for foreign cloud providers utilizing India-based data centres. At the national level, approximately USD 70 billion has already been committed to the data centre sector, with an additional USD 90 billion in announced projects, indicating sustained sector momentum and competition for capacity.
To fund this ambitious expansion, RMZ is actively considering an initial public offering to secure permanent, long-term capital. However, the company has not disclosed IPO timing, size, or valuation expectations. The move reflects confidence in both market conditions and the company's ability to execute on its strategic objectives. The expansion underscores RMZ's repositioning from a traditional real estate developer into a diversified infrastructure player, capitalizing on India's emerging role as a critical data centre hub in Asia.
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