Princeton Digital Group MU1 Campus

7,030,000,000 INR

On 30 July 2025, PDG announced approximately US$160 million of green loans from Axis Bank, Kotak Mahindra Bank and Canara Bank for MU1 development and broader green data centre initiatives in India. The MU1-only allocation, disbursement date and overlap with rated INR facilities are unverified; the figures must not be added together.

PDG launched MU1 on 7 December 2022, then describing 48 MW of critical IT capacity across two buildings on approximately six acres within a larger Airoli IT campus, with US$300 million investment. This is the 2022 launch scope and reported investment, not the land area or operating load of the later 150 MW campus plan. PDG’s December 7, 2022 launch release reported that MU1 had achieved IGBC Platinum certification. This is an operator reported certification claim by that date, not independent inspection of the certificate, its exact award date or building permission.

In July 2025, PDG described the first two MU1 buildings as operational with 50 MW capacity and the first phase of a 100 MW expansion as under construction. These dated figures are not occupied load or confirmation that all 150 MW is operational; they do not silently replace the 2022 report’s 48 MW. Crisil’s June 25, 2026 rationale reports DC1/DC2 construction complete at approximately 52.5 MW, with over 50 MW contracted. It reports DC3/DC4 fully contracted with estimated capex of INR 2,800–3,000 crore and debt tie up underway. The capacity passage does not explicitly specify critical-IT basis; contracting is not measured occupied load and debt tie up is not funding closure.

Crisil’s June 25, 2026 bank facility annexure lists a Canara Bank term loan of INR 330 crore, a Kotak Mahindra Bank term loan of INR 342 crore, a Kotak overdraft facility of INR 30 crore and proposed non fund based limits of INR 1 crore with no lender assigned. Both term loan instruments show September 30, 2040 maturity. The overdraft is interchangeable with an INR 25 crore bank guarantee facility, not additive to it. These are components of the existing INR 703 crore rated facilities, not new funding or independently verified drawn balances; no named lender is allocated to DC2.