PDG HY1 — 90 MW approved, and the portfolio arithmetic that does not closePrinceton Digital Group · Hyderabad, Telangana · 90 MW across three buildings · 15.8 acres · Approvals secured, not yet under construction · Zero megawatts counted

PDG HY1 is a three-building, 90 MW hyperscale campus on about 15.8 acres in Hyderabad, designed with 220 kV diverse power feeds and 173,921 square feet of colocation area, inside a designated electronics and hardware manufacturing zone. Land and power approvals were secured by March 2026; no construction start or ready-for-service date has been published. It arrived as part of a 210 MW multi-site acquisition announced in March 2026, alongside MU2 in Mumbai at 120 MW, and PDG’s release does not explicitly allocate 90 MW to HY1. The 120 plus 90 equals 210 is arithmetic, and this registry labels it as such rather than treating it as a disclosure. The larger finding is not on the site. PDG’s four named Indian campuses — MU1 at 150 MW, MU2 at 120, HY1 at 90 and Chennai CH1 at 72 — add to 432 MW. After the March 2026 acquisition the company described its total operating and planned India portfolio as approximately 1 GW. That is a 2.3-fold gap, and no published material closes it.

1At a glance

2The campus, as designed

This is a design, not a construction project. Land and power are the two hardest approvals in Indian data centres and PDG has both. What is missing is the ground-breaking, and that is the difference between 90 MW of capacity and 90 MW of option.

The registry places it in the pipeline tier and counts zero. If it breaks ground, it becomes the second-largest building-tier record in the country, behind only PDG’s own MU1 expansion at 100 MW and ahead of Iron Mountain’s MUM-3 at 85 MW.

3The density is the point

PDG is building two campuses with a 2.3-fold difference in density. MU1 at 150 MW on 15 acres inside a leased Mumbai shell is a land-constrained, cost-constrained build. HY1 at 90 MW on 15.8 acres is a greenfield AI design with 220 kV feeds and the room to be dense.

518 W per sq ft means 90 MW fits into 173,921 square feet — space that would hold about 16 MW at ESDS density. That is the whole argument for greenfield AI campuses: the constraint is not floor area, it is power, cooling and the willingness to design for 130 kW racks.

It also means a megawatt of HY1 capacity is not the same product as a megawatt of ESDS capacity, which is why this registry publishes density wherever both figures exist and why no national megawatt total can be read without it.

4The portfolio gap, and the assumption that closes it

Eight megawatts of the gap is explained by rounding and by whether MU1’s live capacity is 48 or 50. The other 560 MW is not.

Three explanations are possible, and PDG has published none of them.

The third explanation closes the arithmetic to within one percent, and it is the answer. the PDG 230 MW programme cost US$1 billion, which is ₹36.3 to ₹38.4 crore per megawatt depending on the exchange rate used. Apply that to the cumulative India commitment of about US$2.5 billion and it buys 575 to 609 MW. Add the 432 MW of named campuses and the total is 1,007 to 1,041 MW.

That is approximately 1 GW. The portfolio figure is internally consistent, and the consistency implies something nobody has published: roughly 575 MW of funded Indian data centre capacity that PDG has never announced campus by campus.

5Where HY1 sits in Telangana

Telangana is the most overstated state in this registry relative to what it operates. It counts 330.3 MW in total and only 19.9 MW operating — 6% of its own total — because AirTrunk HYD1 at 243 MW is stage-unverified and absorbs three-quarters of the state’s counted capacity.

PDG HY1 at 90 MW is currently excluded, and it would make Telangana the third-largest state in the registry on total capacity if it counted. It does not count, because a campus with no construction start is an intention.

The state therefore has an unusual profile: two mega-campuses announced, 19.9 MW operating. Hyderabad is the clearest example in India of capacity being sold forward — and the clearest test of whether a registry should count announcements. This one does not, and Telangana’s 19.9 MW is what that discipline costs.

6How this record is counted

Four independent reasons, and any one of them is sufficient. The registry’s discipline is that a record must fail none of them to be counted, which is why the counted total is smaller than almost every published market figure.

The cost of that discipline here is 90 MW. The benefit is that the other 1,277.69 MW of operating and building capacity can be defended building by building, which is what a buyer is actually purchasing.

7What would change this record

The fourth item is worth more than the other four combined, and it is not specific to HY1. If PDG has 560 MW of committed but unannounced Indian capacity, this registry is missing the second-largest operator in the country.

8Sources

Sources: Princeton Digital Group India locations page describing HY1 as a three-building campus designed for 90 MW across about 15.8 acres with 16,158 square metres of colocation area and 220 kV diverse power feeds within a designated electronics and hardware manufacturing zone; Data Center Dynamics, March 2026, on the 210 MW multi-site acquisition in Mumbai and Hyderabad, and July 2026 on the two additional campuses; Baxtel PDG HY1 listing for land acquisition and power approvals secured as of March 2026; Data Center Dynamics, August 2026, on the 48 MW existing MU1 capacity and the US$1 billion programme; Data Center Dynamics and Mingtiandi, September 2024, on the 230 MW programme of MU1 at 150 MW and Chennai CH1 at 72 MW within a US$5 billion Asia plan; trade coverage of March 2026 stating a total operating and planned India portfolio of approximately 1 GW and a cumulative commitment of approximately US$2.5 billion; Gridvik records PRJ-025, PRJ-026, PRJ-184 and PRJ-239. Record verified 26 October 2026.