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CapitaLand India Trust (CLINT) has sold two of its key properties, CyberVale in Chennai and CyberPearl in Hyderabad to an unrelated third party for about S$161.7 million (Rs.11,031 million). This deal, announced on September 26, marks CLINT’s first divestment since its listing in 2007, aimed at unlocking asset value and strengthening its financial position.
The sale, at a 3% premium over the properties’ valuations as of December 31, 2024, will generate net proceeds of around Rs.10,828 million (S$158.8 million). CyberVale, located in Mahindra World City, Chennai, includes a 0.8 million sq ft IT Special Economic Zone and a 0.2 million sq ft Free Trade Warehousing Zone. CyberPearl, situated in Hyderabad’s HITEC City, is a 0.4 million sq ft IT Park.
Gauri Shankar Nagabhushanam, CEO of CapitaLand India Trust Management Pte. Ltd., said, “This divestment kicks off our capital recycling strategy. It allows us to strengthen our balance sheet, invest in high-return projects, and potentially increase payouts to our unit holders.” The move is part of CLINT’s plan to streamline its portfolio and focus on growth opportunities.
Post-divestment, CLINT’s portfolio will have a completed floor area of 21.2 million sq ft. In Chennai, it will retain International Tech Park Chennai, three industrial facilities, and a data centre under development. In Hyderabad, the portfolio will include International Tech Park Hyderabad, aVance Hyderabad, and another data centre under construction. As of June 30, 2025, CLINT’s assets under management were valued at S$3.7 billion, covering 10 IT business parks, three industrial facilities, one logistics park, and four data centre developments across Bangalore, Chennai, Hyderabad, Pune, and Mumbai.
CLINT is managed by CapitaLand India Trust Management Pte. Ltd., a wholly owned subsidiary of Singapore-based CapitaLand Investment Limited. The divestment reflects CLINT’s focus on optimizing its portfolio to drive long-term value for investors.
