Adani Group Secures Pune Land for ₹ 470 Crore From Finolex Industries, Plans Data Centre Expansion

In a significant move, the Adani Group has clinched leasehold rights for a vast 25-acre land in Pune’s Haveli area, sealing the deal for a whopping ₹470 crore from Finolex Industries. Reports suggest that Terravista Developers, a subsidiary of the Adani Group, aims to utilize this expansive plot for the construction of a large-scale data centre facility.

This ambitious project falls under the purview of AdaniConneX, a collaboration between Adani Enterprises and the US-based hyperscale data centre provider EdgeConneX, showcasing the Adani Group’s strong foothold in the data centre business.

Stamp duty payment records, accessed from CRE Matrix, reveal that Terravista Developers has shelled out over ₹23.52 crore for the registration of the transaction, which was finalized on April 3. Situated within the Pimpri Industrial Area, the land was previously leased to Finolex Industries by the Maharashtra Industrial Development Corporation (MIDC). Initially, Finolex Industries held the lease for 95 years. However, the torch has now been passed to Terravista Developers, with the option to extend the lease for another 95 years.

“The acquisition of this landmarks a significant step forward in our plans to expand our data centre operations,” stated a spokesperson for the Adani Group. With this strategic acquisition, the Adani Group further solidifies its position in the data centre sector, poised to meet the growing demands of digital infrastructure in the region.