Realty investor CapitaLand India Trust (CLINT) has signed an agreement to divest from two IT parks CyberVale in Chennai and CyberPearl in Hyderabad to an unrelated third party for Rs 1,103.1 crore ($125 million), the company said in a statement.
First divestment by CLINT’s since its listing in 2007, the development marks a key step for its portfolio reconstitution efforts to unlock asset value and strengthen financial agility.
The statement said that the two assets will be divested at approximately 3% premium to their independent valuations. The net proceeds from the divestment are expected to be Rs 1,082.8 crore (around $122 million).
CyberVale comprises a 0.8 million sq ft IT Special Economic Zone and a 0.2 million sq ft Free Trade Warehousing Zone in Mahindra World City, while CyberPearl is a 0.4 million sq ft IT Park in HITEC City.
“By divesting these two assets, we have the option to utilise the proceeds to strengthen our balance sheet through debt repayment, recycle capital into higher-yielding projects to further grow CLINT’s portfolio, and enhance distributions to unitholders. With our strong financial position, we will continue to seek attractive and accretive investments to deliver sustainable returns to our unitholders,” said Gauri Shankar Nagabhushanam, chief executive officer, CapitaLand India Trust Management.
Post divestment, CLINT’s total completed floor area across its entire portfolio will stand at 21.2 million sq ft. In Chennai, CLINT’s portfolio would comprise International Tech Park Chennai, three industrial facilities, and one data centre under development.
In Hyderabad, CLINT’s portfolio would comprise International Tech Park Hyderabad, aVance Hyderabad, and one data centre under development.
CapitaLand India Trust (CLINT) was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as the first Indian property trust in Asia.
As at 30 June 2025, CLINT’s assets under management stood at S$3.7 billion. CLINT’s portfolio includes 10 world-class IT business parks, three industrial facilities, one logistics park and four data centre developments in India, across Bangalore, Chennai, Hyderabad, Pune and Mumbai.
In a recent interview with VCCircle, Gauri Shankar Nagabhushanam, chief executive officer, CapitaLand India Trust, had said that the trust would look at divesting some of its assets to recycle capital back for further growth and to unlock the value of assets.