CtrlS Datacenters has secured ₹5,500 crore in debt financing from State Bank of India (SBI) and Central Bank of India for its upcoming data centre campus in Hyderabad, giving a major boost to one of India’s major digital infrastructure projects.
SBI has sanctioned a loan of ₹4,000 crore, while Central Bank of India will provide ₹1,500 crore, bank sources said. The banks are initially structuring the loan as project finance and will later transition into a lease rental discounting (LRD) structure.
“The board of CtrlS will meet soon to decide future financing options,” Sridhar Pinnapureddy, founder and chief executive officer, CtrlS Datacenters, said in an emailed response, declining to comment on the company’s specific debt financing lineups.
GW AI-Ready Infrastructure
CtrlS is developing 3.5 GW of data centre campuses in Hyderabad. “These campuses are the largest data centre campuses in India and amongst the largest in the world. Primary capacities will be used for AI factories,” he said.
The project forms a key part of the company’s expansion strategy. “Phase 1 is already under execution and will support the growing requirements of hyperscalers, cloud providers, AI platforms and enterprise customers,” Pinnapureddy said. “We have received all the required approvals and permits to commence construction, and the project is already under execution. The foundations have been completed and expecting the buildings to come up in next six months.”
Institutional Backing
The bank funding comes a month after CtrlS secured a commitment of up to Rs 7,000 crore from the Canada Pension Plan Investment Board (CPPIB) to support its expansion in India’s fast-growing digital infrastructure sector. CPPIB will invest Rs 4,000 crore for an 8.2% stake in CtrlS. The two partners will also set up a joint venture to develop hyperscale data centre campuses across India, with CPPIB committing up to Rs 3,000 crore for a 48% stake and CtrlS owning the remaining 52%.
The Hyderabad project is designed to support high-density AI, machine learning and cloud workloads with advanced liquid-cooling readiness, resilient power systems, carrier-neutral connectivity and sustainability features.
“CtrlS is strengthening Hyderabad’s position as a leading AI infrastructure hub through the development of next-generation hyperscale datacenter campuses,” Pinnapureddy said.
CtrlS currently operates 19 data centres across nine markets in India, with more than 370 MW of operational capacity and 4 GW of projects at various stages of execution. The company said it would continue expanding its infrastructure to meet the country’s rapidly growing demand for AI, cloud and digital services.