India Data Centres 2026: STT GDC, CapitaLand & Keppel — What’s Live, What’s Not

As of 12 October 2026 | A public-source project-status audit—not a claim that every announced megawatt is operational.

The short answer: the three names do not represent three comparable Indian operating portfolios. STT GDC and CapitaLand have identifiable Indian data-centre facilities and live capacity. Keppel’s latest India data-centre signal located was an October 2024 discussion of AI-campus opportunities; the same call also covered India Cooling-as-a-Service activity, which is not data-centre MW. No named Keppel data-centre site or committed India capacity was identified in the sources reviewed through the date above. Even for STT and CapitaLand, “capacity” can mean live IT load, gross power, a phase, a campus design or a development pipeline.

The answer in 30 seconds

Best careful answer to “how much is live?” For STT, the best independently compiled current estimate located is about 211 MW operational, with important status and basis caveats; STT itself has not confirmed that number as its official live total. For CapitaLand, the clearly documented live asset is one Navi Mumbai tower: 33.7 MW IT / 50 MW gross. For Keppel, no confirmed India facility or India MW figure was found. These figures are not directly comparable.

What “live” means—and what it does not

Data-centre announcements routinely combine unlike measures. This article keeps them separate:

• IT load / critical IT load: capacity available to servers and other IT equipment. This is the preferred comparison when a source provides it.
• Gross power / total power / utility capacity: a broader electrical-power measure. It is not interchangeable with IT load; source terminology also varies.
• Phase capacity: a particular building, hall or stage. It is not the same as the ultimate campus design.
• Campus design capacity: a potential fully built-out envelope, often delivered in phases over years.
• Operational / ready for service: an asset or phase has been commissioned or is explicitly described by its owner as operational / ready for service. This does not reveal actual tenant utilisation.
• Leased / pre-leased / handed over: a commercial or delivery milestone. A pre-lease is not a live building; even handover does not disclose actual power draw.
• Under construction: construction work has started. Under development / planned / approved / MoU are earlier or broader statuses unless a source gives a more specific milestone.
• Exploring: management is evaluating opportunities; it is not a confirmed project.

The date beside each figure matters. An MoU’s proposed investment is not a capacity number; a capacity number is not proof that the building is live; and a global corporate total is not an India total.

STT GDC: the 613 MW headline includes more than operating sites

STT GDC India is the Indian operating business, historically a 74% / 26% joint venture between STT GDC and Tata Communications. STT GDC’s FY2025 India ESG report states that shareholding split; the current company site describes the Indian business as a majority-owned subsidiary. In September 2026, a KKR-led consortium comprising funds managed by KKR and Singtel (Singapore Telecommunications) completed its acquisition of global STTGDC, which retained the STTGDC name. The parent-level transaction does not turn the India portfolio headline into a live-capacity figure. STT GDC India FY2025 ESG report · STTGDC acquisition completion, 2 Sep 2026

Three different numbers are being mistaken for one

1. 613 MW IT load / 34 facilities / 10 cities. This is STTGDC’s current India headline. Crucially, a footnote on the current India portfolio page says the data-centre figures include sites under development and held for further development. It is therefore not a “613 MW live” disclosure.
2. More than 400 MW / 30 facilities in February 2026. STT’s Chennai announcement explicitly said that its 30-facility figure included facilities under development. The September 613 MW figure is later and larger, but the two disclosures do not provide a like-for-like status bridge. It would be wrong to present the difference as 213 MW of new live capacity. STT Chennai update, 19 Feb 2026
3. About 211 MW operational / 399 MW planned. DC Market Insights, a third-party tracker updated 7 October 2026, classifies 23 of STT’s 34 listed sites as operational, 11 as planned and zero as under construction. It reports 211 MW operational and 399 MW planned. Its notes say capacity is IT where a source states it, otherwise total capacity; one of its 34 tracked sites has no stated capacity. The status totals add to 610 MW, not STTGDC’s 613 MW headline, so the two figures are not a like-for-like reconciliation. This is an independent estimate—not a figure STT has adopted or certified. DC Market Insights: STT GDC India

There is a reconciliation issue even at facility level. STTGDC’s current site map displays 34 named facilities and site capacities that sum to about 613.5 MW (rounding to the company’s 613 MW headline). Nine entries are explicitly tagged “Under Development”; their displayed capacities add to 365 MW. The remaining 25 entries, if simply summed, add to about 248.5 MW—but STTGDC does not label that arithmetic as its operational total, and an absent “Under Development” tag is not the same as an explicit commissioning statement for every site.

DC Market Insights’ 211 MW operational estimate is lower. Its table classifies STT Navi Mumbai 1 (28 MW) and STT Kolkata 2 (6 MW) as planned, although STTGDC’s current India map does not tag those two entries as under development and STT described the Kolkata campus as launched. The tracker also labels Palava 1 and Navi Mumbai 2 / 3 as planned, while project-specific coverage reports groundbreakings. These differences may reflect status definitions, source timing or an un-reconciled facility mapping; they are not evidence by themselves of a false company claim. The defensible wording is: the company’s 613 MW includes development; a third-party tracker estimates 211 MW operational; the public sources do not yet yield one reconciled, company-confirmed live total.

Live examples with named milestones

STT has many other long-running facilities across the cities listed below. The examples above are not a complete count of operating sites and should not be presented as the company’s full live total. Sources: STT Chennai release, STT Jaipur launch, STT India portfolio map, STT Kolkata announcement, and DCD on Kolkata 2.

The named build and development pipeline

For Navi Mumbai 2 and 3, the capacity figures changed across publications: an earlier DCD construction report described two 40 MW buildings; STTGDC’s current site map shows 49 MW and 42 MW, while later reporting described about 90 MW combined. The values may have been refined or may use different design bases. This article uses the latest company site values for the current register and does not sum old and new figures. DCD: Navi Mumbai 2 / 3 construction · Current STTGDC India map

State announcements: important, but not “live MW”

STT’s India expansion includes multiple state agreements and public investment plans. They are not additive capacity statements: some may describe the same parks or phases, and most do not specify a live MW amount.

Separately, STT announced a ₹26,000 crore / US$3.2 billion plan to add 550 MW over five to six years in September 2024 and later described a goal of reaching 1 GW design capacity in India this decade. Those are corporate ambitions, not extra projects to add on top of each state MoU or the 613 MW portfolio number; the sources do not publish a project-by-project reconciliation. DCD on the 2024 plan · STT’s Feb 2026 statement

STT’s 34 named site entries on its current India map

The table below transcribes the facility names and IT-load figures on STTGDC’s current India portfolio map, checked 12 October 2026. “U/D” means the page explicitly displays “Under Development.” A blank status means only that this label was not visible on the current map; it is not an independent commissioning certificate. The map’s individual rounded values total about 613.5 MW, consistent with the headline 613 MW after rounding.

Source for all names / map values / visible U/D tags: STTGDC India portfolio page. Site capacities can change; retain the access date and the source’s own caveat when republishing. The map lists Delhi and Noida separately, and groups Navi Mumbai and Palava under its Mumbai market.

CapitaLand: one fully handed-over tower; the rest need status labels

“CapitaLand” is not one project owner. CapitaLand Investment Limited (CLI) is the sponsor / asset manager and manages the CapitaLand India Data Centre Fund (CIDCF). CapitaLand India Trust (CLINT) holds and develops the Indian property interests, including through project subsidiaries and a joint-venture structure. CIDCF’s first close was approximately S$150 million, anchored by a third-party global institutional investor that CapitaLand did not name, with a general-partner commitment from CLI. The fund acquired a 20.2% interest in three data-centre projects; after the February 2026 completion, CLINT retained 79.8%. The fund stake is an ownership interest in the same assets—not extra physical capacity. CLI / CIDCF announcement · CLINT 1H 2026 results

Sources: CLINT’s detailed asset table and divestment announcement, Tower 2 hyperscaler agreement, Jan 2026, CLINT FY2025 results, CLINT 1H 2026 financial statements, Bangalore property page, and The Hindu report on Karnataka discussions, 25 Sep 2026.

Why CapitaLand’s “200 MW” is not 200 MW live

The 200 MW figure is gross power capacity across three project locations: Navi Mumbai’s two towers (50 + 55 MW), Chennai (53 MW) and Hyderabad (42 MW). It includes the completed Tower 1 and the other phases at different stages. The corresponding project IT-load figures sum to 132 MW (33.7 + 37 + 34 + 27), of which 33.7 MW IT / 50 MW gross is the tower CLINT says is operational and fully handed over. The 200 MW is not 200 MW live, and it is not 200 MW to add to the capacity of the underlying assets.

Three additional cautions:

• The CapitaLand property listing for Mumbai 01 still shows “Under Development” and 108 MW power capacity. CLINT’s July 2026 results say the first 50 MW gross of Navi Mumbai data-centre capacity is fully leased, operational and handed over; its detailed tower figures put Tower 1 at 50 MW gross and Tower 2 at 55 MW gross, or 105 MW together. As a status source for Tower 1, the generic listing is stale: it still says “Under Development” even though CLINT’s July 2026 results report the 50 MW gross phase as operational and handed over. The listing may describe the wider multi-tower site, so its overall status scope is unclear; its 108 MW figure also exceeds the detailed 105 MW tower total. CapitaLand does not reconcile the scope or 3 MW difference in the materials reviewed. This article uses the newer tower-level disclosure for status and leaves the 108 MW figure unresolved rather than silently reconciling it. Mumbai 01 property listing · CLINT 1H 2026 results
• CapitaLand’s generic India data-centre page uses rounded / different figures for some properties (for example, Chennai at 54 MW and Hyderabad at 40 MW), whereas CLINT’s later project table states 53 MW and 42 MW gross. This article uses the more detailed, dated CLINT project figures and leaves the difference visible rather than mixing them. CapitaLand India data-centre page
• CapitaLand DC ITPB, Bangalore remains listed as “Under Development” on a marketing page, but CLINT’s financial material says the development is on hold. On 25 September 2026, Karnataka minister M.B. Patil was reported as saying CapitaLand Investment was keen to expand beyond the 42 MW Bangalore project. That report provides no new site, MW commitment or commissioning milestone and does not resolve CLINT’s “on hold” note. A fair article should show both statements and request clarification.

The Hyderabad forward-purchase office assets discussed in CLINT materials are not data-centre MW and are not included in this audit. Likewise, CyberVale in Chennai and CyberPearl in Hyderabad were separate IT-park assets divested in 2025, not additional data-centre capacity.

Keppel: India is an opportunity under consideration, not a disclosed asset

Keppel Ltd. is a Singapore-based global asset manager and operator with Keppel DC REIT and private Keppel Data Centre Funds in its data-centre ecosystem. Its global portfolio figures should not be assigned to India: Keppel’s April 2026 corporate feature described 39 data centres and more than 800 MW of gross power capacity across Asia Pacific and Europe, including projects under development. Keppel, “Banking power for AI”

On India data-centre opportunities, the public signal is exploratory. At Keppel’s 24 October 2024 business update, Manjot Singh Mann, then CEO of Connectivity and M1, answered that Keppel was looking at AI-campus opportunities in India, Malaysia, Japan and Indonesia. The official transcript identifies Mann as the speaker; a 30 October 2024 DCD report attributes the same comment to Keppel CEO Loh Chin Hua. This article follows the primary transcript’s speaker label and flags the trade-report attribution difference rather than repeating it as settled fact. The comment was an exploration signal—not a named Indian data-centre project.

The same call also records Loh Chin Hua disclosing Keppel’s first India Cooling-as-a-Service contract with an operating platform of Blackstone (about 4,300 refrigeration tonnes) and a separate India MoU with Tata Group for similar services. Those are cooling-service engagements, not a disclosed Keppel data-centre site or India MW figure. Keppel’s FY2025 results release, 1H 2026 presentation and August 2026 Investor Day materials reviewed here describe global data-centre and AI infrastructure activity but do not identify a named Indian data-centre site or committed capacity. The public sources reviewed do not name a Keppel data-centre land parcel, local project company, secured power capacity, tenant, construction start or delivery date. Keppel 3Q 2024 call transcript · DCD, 30 Oct 2024 · Keppel FY2025 results · Keppel 1H 2026 presentation · Keppel Investor Day, 12 Aug 2026

The fair wording for data-centre capacity is “Manjot Singh Mann discussed exploring AI-campus opportunities in India in October 2024; no named Indian data-centre site or committed India MW was found in the sources reviewed through 12 October 2026.” Keppel’s separately disclosed Cooling-as-a-Service activity and Tata Group MoU are not data-centre MW. This is a statement about the public record—not proof that no private discussions or early-stage activity exist. Keppel’s named projects in Singapore or Australia, and its global gross-power total, are not Indian operating capacity.

Ownership and capacity: the two most common double-count traps

A neutral status vocabulary is safer—and more accurate

Use wording such as:

• “STT GDC reports 613 MW of India IT load, with its site footnote including development and further-development sites; a third-party tracker estimates 211 MW operational.”
• “CLINT says Navi Mumbai Tower 1 is fully handed over and operational at 33.7 MW IT / 50 MW gross; the other named phases have separate development statuses.”
• “In October 2024, Keppel’s Manjot Singh Mann discussed exploring AI campuses in India; a separate Cooling-as-a-Service contract / Tata Group MoU is not data-centre MW. No named Keppel India data-centre site or capacity commitment was identified through 12 October 2026.”

Avoid “all 613 MW is live,” “only a few are live,” “paper capacity,” “fake,” “double-counted” or “Singapore is moving its capital to India.” The evidence here supports a disclosure-comparability problem, not an allegation of deception. “Double count” is appropriate only when describing a demonstrable arithmetic mistake—such as adding a fund’s stake value or portfolio headline to the same underlying physical assets.

Frequently asked questions

Is STT GDC’s 613 MW in India operational?

No. STTGDC’s current India page says the figures include sites under development and held for further development. A third-party tracker estimates 211 MW operational as of 7 October 2026, but STT has not published that as its own reconciled live total. The company’s 613 MW headline should not be described as 613 MW live.

How much CapitaLand data-centre capacity is live in India?

The clearest dated company disclosure is CapitaLand DC Navi Mumbai Tower 1: 33.7 MW IT load / 50 MW gross power, fully handed over to a hyperscaler in July 2026. Tower 2, Chennai and Hyderabad remain separate development phases in CLINT’s latest dated materials; the 42 MW Bangalore project is noted as on hold in CLINT filings.

Does CapitaLand’s 200 MW mean 200 MW live?

No. It is gross power capacity across three project locations and four towers, including the completed 50 MW-gross Tower 1 and three other phases under development. The fund’s 20.2% stake is an ownership share in the same assets, not additional physical capacity.

Does Keppel operate a data centre in India?

No named Keppel-owned or operated Indian data-centre facility was identified in the public sources reviewed through 12 October 2026. At the October 2024 business update, Manjot Singh Mann discussed AI-campus exploration; Loh Chin Hua also disclosed an India Cooling-as-a-Service contract involving a Blackstone operating platform and a separate Tata Group MoU. Those service engagements are not data-centre facilities or MW commitments. The absence of a public site is not proof that no private discussions exist.

Why is IT load different from gross power?

IT load is the capacity available to servers and IT equipment. Gross power is a broader facility / power measure and includes non-IT infrastructure overhead. Use the exact basis stated by each source; do not compare an IT-load figure directly with a gross-power figure as if they were the same.

Does an MoU, power allocation or pre-lease make a data centre “live”?

No. An MoU is a stated intention or investment framework; land and power approvals are enabling milestones; pre-leasing is a commercial commitment. The facility or phase still needs to be built, commissioned and made ready for service before its capacity can be described as operational.

Source notes and methodology

Cut-off: 12 October 2026. Primary company disclosures, dated trust / investor materials, government records and independent trade reporting were reviewed. Facility status is reported with the source date wherever possible. This is a desk-based public-source audit, not a site inspection, technical commissioning audit, legal opinion, or assurance engagement.

Important limitations: Companies do not use one shared vocabulary for “under development,” “under construction,” “operational,” “power capacity” or “IT load.” Some public property pages lag later trust disclosures. Some project capacities change between early construction reports and current company maps. State MoUs can overlap company investment targets or individual campuses. No cloud-region launch, global company capacity, fund size or ultimate campus design has been converted into India live MW.

Selected source register

1. STTGDC India portfolio page and current site map — 34 facilities, 10 cities, 613 MW IT; site-level figures and the development / further-development footnote.
2. STTGDC acquisition completion and refreshed brand, 2 Sep 2026 — parent-level transaction, global operating figures and India headline.
3. STT GDC India FY2025 ESG report — India joint-venture shareholding and historical portfolio scope.
4. STT GDC India Chennai expansion / ₹4,200 crore commitment, 19 Feb 2026 — Ambattur 40 MW operational, Siruseri 7.2 MW live / 45 MW design, STT Chennai 4 groundbreaking, Chennai development potential and Tamil Nadu MoU.
5. STT Jaipur 1 launch, 22 Jul 2026 — 6 MW facility; pair with the official Jaipur location page, which says ready for service from 3 June 2026.
6. STT Kolkata campus announcement and DCD on Kolkata 2 — 6 MW facility / first phase and up-to-25 MW campus design.
7. DCD on Palava groundbreaking, 18 Mar 2026 — first 50 MW phase; campus designed to scale to roughly 400 MW IT.
8. DCD on Navi Mumbai 2 / 3 construction — earlier construction-stage figures and timeline; compared against STTGDC’s current site map.
9. DC Market Insights’ STT GDC India tracker, updated 7 Oct 2026 — third-party 211 MW operational / 399 MW pipeline estimate, project list and status methodology.
10. Karnataka State High Level Clearance Committee minutes, 8 Mar 2024 and The Hindu, M.B. Patil’s 25 Sep 2026 update — Devanahalli proposal / reported 100 MW campus.
11. STT state announcements: Karnataka 2022, Uttar Pradesh 2023, Tamil Nadu 2024, Telangana 2025, and Maharashtra 2025.
12. CapitaLand India Data Centre Fund announcement, 31 Dec 2025 and CLINT transaction announcement — fund structure, 20.2% interest, project capacities and status.
13. CLINT Tower 2 hyperscaler agreement, 15 Jan 2026 — pre-lease, 37 MW IT / 55 MW gross, expected completion and handover.
14. CLINT FY2025 results, 2 Feb 2026 and CLINT 1H 2026 financial statements — Bangalore development on hold; project status and capacity tables.
15. CLINT 1H 2026 results release, 29 Jul 2026 — Tower 1 handover, full income contribution timing and other developments.
16. CapitaLand India data-centre page, Bangalore property page, Mumbai 01 property page and Karnataka report, 25 Sep 2026 — current marketing-page labels, capacity figures and minister-reported expansion interest.
17. Keppel, “Banking power for AI,” Apr 2026, Keppel 3Q 2024 business-update transcript, DCD, 30 Oct 2024, Keppel FY2025 results, Keppel 1H 2026 presentation and Keppel Investor Day, 12 Aug 2026 — global portfolio scope; the 2024 campus-exploration comment and separate India cooling-service disclosures; speaker attribution cross-checked against the transcript.