Iron Mountain has owned all of what was Web Werks since 1 April 2025. The India platform publishes a combined footprint of 484,000 square feet and 150 MW of capacity offered upon completion. Add up the six individual facility pages and the number energised today is 20.3 MW. The target is 7.4 times what is switched on. That ratio is not a scandal — it is how every Indian data centre portfolio is marketed — but it is the number a buyer needs before valuing any of them. This page lays out every published way of counting the same portfolio, shows that the floor area reconciles to within 0.12%, and shows that the power does not reconcile at all.
1At a glance
2Six figures, one portfolio
| Basis | MW | What it measures | Status |
|---|---|---|---|
| Platform completion target | 150 | Everything switched on at some future date, all markets | Published claim |
| Sum of named parts | 147.5 | MUM-3 85 + CHN-1 23.2 + CHN-2 19 + the six operating buildings 20.3 — 1.7% below the target | Gridvik arithmetic |
| Named new builds | 127.2 | MUM-3 85 + CHN-1 23.2 + CHN-2 19, all unbuilt | Operator-published |
| Published operating today | 20.3 | MUM-1 2.5 + MUM-2 6.3 + HYD-1 5.5 + BLR-1 4 + PUN-1 2 | Energised |
| At acquisition, April 2025 | 14 | Six data centres, five markets, per trade press | Stated, not itemised |
| Counted in this registry | 11.5 | HYD-1 5.5 + BLR-1 4 + PUN-1 2 | Additive rows with a value |
| Trade-press view of three campuses | 142 | Mumbai 85 + Chennai 36 + Noida remainder — a 6.2 MW lower Chennai figure than the operator now publishes | Superseded in part |
The platform says 150 MW upon completion. Its own named parts add to 147.5 MW: MUM-3 at 85, CHN-1 at 23.2, CHN-2 at 19, and the six operating buildings at 20.3.
That is a 2.5 MW difference, 1.7%, and it is the first time this registry has been able to reconcile an Indian portfolio’s completion target to its components. The 150 MW is a real sum of real buildings.
What does not reconcile is timing. Of the 147.5 MW, 127.2 MW (86%) does not exist. The target is credible and the delivery is not yet evidenced — two separate judgements, and this page keeps them separate.
3Six facilities, 481,000 square feet
Here is where the file behaves properly. The area reconciles almost exactly. The power does not.
| Facility | Location | MW | Floor area | Sq ft per MW | Counted here |
|---|---|---|---|---|---|
| MUM-1 | Navi Mumbai | 2.5 (to 4) | 50,000 sq ft / 4,645 m² | 20,000 | 0 MW — no value in source |
| MUM-2 | Navi Mumbai | 6.3 | 110,631 sq ft / 10,278 m² | 17,560 | 0 MW — no value in source |
| HYD-1 | Kondapur, Hyderabad | 5.5 (phase one) | 120,000 sq ft / 11,100 m² | 21,818 | 5.5 MW |
| BLR-1 | Whitefield, Bengaluru | 4.0 | 80,000 sq ft | 20,000 | 4.0 MW |
| PUN-1 | Hinjewadi, Pune | 2.0 | 50,186 sq ft | 25,093 | 2.0 MW |
| NCR-1 | Noida | not disclosed (to 12) | 69,735 sq ft | — | 0 MW — no value in source |
| Operating total | Six buildings | 20.3 | 480,552 sq ft | 23,672 | 11.5 MW |
| MUM-3 | Rabale, Navi Mumbai | 85 (full build) | 1,398,000 sq ft / 130,000 m² | 16,447 | non-additive, counts 0 |
The platform claims 484,000 sq ft, which is 44,700 sq m — 481,146 sq ft at 10.7639. The six location pages sum to 480,552 sq ft. That is a 594 sq ft difference, 0.12%, and it is the single most reassuring number on this page: the operator is describing the buildings it actually operates.
Now do the same for power. Three of the six records are flagged additive in the source file and carry no capacity value at all. Those three buildings — MUM-1, MUM-2 and NCR-1 — publish 8.8 MW of IT capacity between them on the operator's own pages.
The registry counts 11.5 MW out of 20.3 MW. The missing 8.8 MW is not an unknown; it is published, it is just not in the field. That is the difference between a data gap and a data defect.
4Web Werks to Iron Mountain
- Iron Mountain Data Centers forms a joint venture with Web Werks, which then had three carrier-neutral data centres — Mumbai, Pune and Delhi-NCR. Iron Mountain commits US$150 million over two years.
- MUM-2 opens next door to MUM-1 on the 5.5-acre Navi Mumbai campus.
- The venture announces MUM-3 at 32 MW IT, Tier III designed, on a five-acre parcel, with US$170 million and a go-live of H2 2025. A 120 MVA substation is approved.
- Iron Mountain completes the buyout and takes 100% of Web Werks. The India business rebrands to Iron Mountain Data Centers India. Trade press puts the acquired estate at six data centres in five markets and 14 MW of IT capacity.
- Ground broken on MUM-3 — now 85 MW, hyperscale-ready, with Stirling & Wilson as contractor. Operator targets 2027; some operator pages say Q1 2028.
- No MUM-3 capacity commissioned. Chennai and Noida campuses announced, not scheduled. Zero megawatts added to the registry since the January groundbreaking.
Read the June 2023 row against the January 2026 row. The same building went from 32 MW with a 2025 go-live to 85 MW with a 2027 or 2028 go-live. That is 2.66 times the capacity and roughly two and a half years of slip. The 120 MVA substation was part of the 32 MW plan and is unchanged at 85 MW, which is the subject of the campus record.
A 2023 constant-density colocation building was sized for enterprise racks. An AI-ready building is sized for liquid-cooled, high-kilowatt racks and the substation and cooling plant to match.
The consequence for anyone buying Indian capacity data: a 2023 announcement is not a 2026 forecast. Capacity figures published before the AI buildout are consistently being restated upward, and completion dates are moving outward at the same time.
5Three campuses, 142 MW of the 150
Almost the whole target sits in three buildings that do not exist yet — and, unusually for this file, the components now add up to the headline.
| Component | MW | Status | Share of target |
|---|---|---|---|
| MUM-3, Rabale, Navi Mumbai | 85 | Ground broken Jan 2026; 2027 target, Q1 2028 on some pages | 57% |
| CHN-1, Chennai | 23.2 | Operator-published, targeted 2026 | 15% |
| CHN-2, Chennai | 19 | Operator-published, targeted 2028 | 13% |
| Existing six facilities | 20.3 | Energised | 14% |
| Named total | 147.5 | Against a stated target of 150 — a 1.7% shortfall | 98% |
| Noida campus | not published | The only market with a target and no capacity figure | — |
Chennai is the figure that moved. Trade coverage in January 2026 put the three planned campuses at 142 MW with Chennai at 36; the operator’s own Asia-Pacific page now gives Chennai as CHN-1 at 23.2 MW in 2026 and CHN-2 at 19 MW in 2028, a total of 42.2 MW. That is 6.2 MW more than the trade figure, and it is the reason the components now add up.
On land, 85 MW on a 5.5-acre campus is the densest build in this registry at 15.5 MW per acre for that building alone, and it only works vertically. There is no second parcel in Navi Mumbai at a price that makes a greenfield 85 MW work, which is why the next two campuses are in Chennai and Noida and not next door.
6What this does to the registry
| Measure | MW | Share of 2,420.4 MW | Note |
|---|---|---|---|
| Counted today, additive rows only | 11.5 | 0.48% | Three operating records with a published value |
| Published operating, all six pages | 20.3 | 0.84% | The figure a buyer should use |
| Plus MUM-3 at delivery | 105.3 | 4.35% | One building takes the platform from 0.8% to 4.4% |
| Plus all three campuses | 162.3 | 6.71% | Above the operator’s own 150 MW target |
The pattern is worth internalising because it repeats across this registry. A single hyperscale building — MUM-3 at 85 MW — multiplies the company’s national footprint 5.2 times. Meanwhile the eight megawatts already sitting in Navi Mumbai are invisible in the count because a field was left blank.
Iron Mountain is a US-listed REIT. Its India business is a rounding error in its own accounts and a top-five platform in this registry. That asymmetry is exactly what makes Indian capacity data worth money: nobody is reconciling the two scales.
If India is 6.7% of a 2,420.4 MW counted market on published numbers, and the global platforms are buying into it at US$6 million per megawatt, then the register of who holds what, where, and at what stage is a diligence input, not a news feed.
7Procurement
8Limits and open questions
- The 150 MW is a completion target. It is not a current load, not a schedule and not itemised by facility.
- The named parts total 147.5 MW against a 150 MW target — a 1.7% shortfall that is probably rounding, but Noida is still unpriced and could account for it.
- NCR-1’s 12 MW is scalability, not load. It is excluded from both the 20.3 MW and the counted figure.
- The 14 MW acquisition figure is trade press, not an operator statement, and is lower than the operator’s own location pages.
- HYD-1’s 5.5 MW is first-phase IT load. Total build potential is not published.
- MUM-3 area is a whole-building figure at 130,000 sq m, so its 16,447 sq ft per MW is not comparable with a technical-hall measurement.
- Zero megawatts counted at portfolio level. The aggregate is non-additive by design, so no state total is inflated.
- What would close it. An operator capacity table with per-facility IT load and phase dates. That is the entire ask.
9Sources
Sources: Iron Mountain Data Centers India platform page and its Mumbai, MUM-1, MUM-2, Hyderabad, Bengaluru, Pune and Delhi-NCR location pages; the January 2026 MUM-3 groundbreaking release; Structure Research; Data Center Dynamics reports on the Web Werks acquisition and the MUM-3 groundbreaking; W.media; ETTelecom; Communications Today; and the June 2023 Web Werks–Iron Mountain MUM-3 announcement.