PDG MU2 is a data center project in Navi Mumbai, India, operated by Princeton Digital Group. It is under construction. It is planned for 120 MW of IT load.
Latest change on record: moved to under construction on 10 April 2026. Record last checked against its sources on 22 October 2026.
Next gate to watch: Tenant or own use.
Build odds is ArusGrid's reading of the public record, not a forecast, a rating or advice. It counts the gates this project has passed in public sources. Private progress does not show, a passed gate can be undone, and projects that pass every gate still stop. The method has not yet been tested against outcomes. How it works.
How India approves, powers and taxes data centers is on Data center rules in India.
Mumbai metro holds 32 active projects with 2,694 MW of planned IT load between them, and PDG MU2 ranks 8th by planned capacity. Of those, 4 are operational, 5 are operational and expanding, 11 are under construction, 6 are at the land and permitting stage and 6 are announced only. Published colocation vacancy in Mumbai metro was 6.6% as of June 2025. Vacancy excludes hyperscaler self-build.
PDG has 1 other in India tracked by ArusGrid, including PDG MU1 campus. It sits on the PDG MU2 campus. Named funding comes from Warburg Pincus, Ontario Teachers' Pension Plan, Mubadala and Stonepeak on the equity side. No user of the capacity is on the public record as of 2026-10-02, after a check of operator, landlord, contractor, regulator and lender documents. Most colocation leases are confidential, so this says nothing about occupancy.
The dated record runs from at the land and permitting stage on 25 March 2026 to under construction on 10 April 2026. Power comes from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) through a dedicated substation at 220 kV.
The US export control position for advanced AI chips in India, as of 27 September 2026, is recorded as “No US destination-based licence requirement as enforced”. ArusGrid holds 4 public sources for this project, the latest dated 1 June 2026, and last checked the record on 22 October 2026.
Construction or financing is evidenced, or several independent signals agree. The rules are fixed and published on the Methodology page.
Reaching this stage requires a dated construction source, which corroborates the project on its own.
120MW greenfield started 2026.
This country carries no US destination-based licence requirement for advanced AI chips as the rules are enforced today. Access is a commercial matter between the project and its vendors. Criteria are published on the Methodology page.
No US destination-based licence requirement as enforced · No US destination-based licence requirement as enforced (2026-09-27) source
Checked on 2026-10-02. No user of this capacity is on the public record. ArusGrid read the operator's releases, the landlord's and contractors' exchange filings, regulator and lender documents and interconnection records. Most colocation leases are confidential, so this says nothing about occupancy.
No figure has been announced. This range is 120 MW of planned IT load times a published benchmark of US$6.64 per watt for Mumbai, plus or minus 15 percent, with 10 percent more at the top for liquid cooling because the project is AI-positioned. It covers the building and its mechanical and electrical plant. It excludes land, grid works, servers and fees.
Benchmark: Turner & Townsend Data Centre Construction Cost Index 2025, as reported by Data Storage Asia. An estimate is never added to any total on the site.
registered lease, PDG as lessee of 1,058,568 sq ft at Mindspace Airoli West, 20 and 40 year terms, 15-year lock-in, 4 percent escalation Electricity excluded. As of 2025-04. Business Standard on CRE Matrix data, 2025-05-05
The operator's own shell cost, about INR 125 crore a year. A hyperscaler rent at this campus must clear it plus fit-out.
A powered shell leased to its tenant, which is a different product from colocation, so no per kW price applies.
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