Avisirah Technologies Raises Rs.75 Crore from Syndicate Finance for Navi Mumbai AI Data Centre

Avisirah Technologies Private Limited has secured a Rs.75 crore loan facility from Syndicate Finance to fund the development of its proposed data centre and high-performance computing infrastructure in Navi Mumbai, extending a financing relationship that now totals Rs.125 crore between the two parties.

The new facility follows a Rs.50 crore secured loan that Syndicate Finance extended to Avisirah Technologies in May 2025, and was approved after the lender completed its due-diligence and credit appraisal process, including an evaluation of the project, the proposed deployment of funds, and the documentation submitted by the company. Avisirah Technologies also envisages a further funding programme of up to Rs.125 crore during 2027-28, subject to project milestones, definitive documentation, credit approvals, and customary conditions. If completed as contemplated, the overall financing relationship could support funding of up to Rs.250 crore across various phases of the company's data centre development programme.

The Rs.75 crore facility will be primarily utilised for land acquisition in Navi Mumbai, development of the proposed data centre facility, civil, electrical, power, cooling and connectivity infrastructure, procurement and installation of computing and data centre equipment, and working capital requirements associated with development and operations. The proposed facility is a greenfield, Uptime Tier III-equivalent colocation data centre to be developed in two phases of Rs.125 crore each. Phase I is designed to deliver approximately 2.5 MW of IT load, while Phase II will add approximately 3.0 MW, bringing the facility to 5.5 MW of IT load and approximately 1,100 racks at a 5 kW average design density, on a shared land parcel with a shared power and cooling backbone.

"Artificial intelligence is fundamentally changing the scale and nature of computing infrastructure required by businesses," said Mr. Suresh Gurav, Director of Avisirah Technologies Private Limited. "India is witnessing significant growth in demand for AI, cloud and data-intensive computing capacity, and we believe Navi Mumbai is strategically positioned to participate in this next phase of digital infrastructure development." He added that the Rs.75 crore financing from Syndicate Finance is an important milestone in the company's development programme and will enable it to progress land acquisition, infrastructure development, equipment procurement, and working capital requirements for the project. Syndicate Finance declined to comment on the transaction, stating that it does not, as a matter of firm policy, discuss individual client facilities or lending relationships.

The financing arrives at a time when India is witnessing substantial investment in data centres and AI infrastructure. India's data centre capacity stood at approximately 1.6 GW in mid-2026 and is projected to reach around 6 GW by 2029, according to JLL's India Data Centre 2026 Mid-Year Report, with the expansion driven substantially by AI-led demand and hyperscale investments. The report estimates that global hyperscalers have made more than US$50 billion of commitments to India's data centre ecosystem. The scale of the opportunity was further highlighted this week by the Union Commerce and Industry Minister, who said India's data centre industry could attract approximately US$200 billion in investment, while government discussions with the industry have focused on facilitating faster development through reliable power availability, data centre-ready land, regulatory reforms, and streamlined approvals. Hyperscalers accounted for more than 80% of data centre absorption in the first half of 2026, underscoring growing demand for large-scale computing and AI infrastructure.

Mumbai and Navi Mumbai are among India's most established data centre markets, benefiting from the region's position as the country's principal financial and commercial centre, access to international connectivity, submarine cable infrastructure, power availability, and proximity to a large concentration of enterprises, financial institutions, and technology users. The project also comes against the backdrop of the Maharashtra IT & ITeS Policy 2023, which identifies data centres as a focus segment for investment and provides for facilitation through infrastructure and industry status, dedicated data centre parks, and other fiscal and non-fiscal incentives, subject to applicable eligibility requirements. Avisirah Technologies said it intends to evaluate the incentives and facilitation measures available under applicable Central and Maharashtra Government policies for the Navi Mumbai project, and expects the facility, once developed and operational, to add high-performance computing capacity to India's expanding digital infrastructure ecosystem. The company is developing data centre facilities in Bangalore, Navi Mumbai, and Gurgaon to provide high-performance computing infrastructure for AI, cloud computing, and other data-intensive applications.