CapitaLand India Trust (CLINT)

What CapitaLand India Trust (CLINT) does

CapitaLand India Trust (CLINT) is a Singapore-listed business trust (SGX-ST) that owns and operates a portfolio of income-producing commercial real estate assets in India, serving corporate tenants in the IT/BPM, industrial/logistics, and hyperscale data centre sectors. Listed in August 2007 (formerly Ascendas India Trust), CLINT is managed by CapitaLand India Trust Management Pte. Ltd., a wholly owned subsidiary of CapitaLand Investment Limited (CLI), which retains an approximately 25% stake. As of 30 June 2025, the portfolio comprised eight IT business parks, three industrial facilities, one logistics park, and three data centre developments across Bangalore, Chennai, Hyderabad, Pune, and Mumbai, with 21.7 million square feet of completed floor area and S$3.7 billion in assets under management.

The trust's core operating assets are flagship IT parks such as International Tech Park Bangalore (ITPB) and International Tech Park Chennai (ITPC), alongside a growing digital infrastructure platform. The data centre pipeline includes Navi Mumbai (with Tower 1 partially handed over since July 2025 and Tower 2 at 55 MW gross power / 37 MW IT load under construction), plus developments in Hyderabad and Chennai, totalling 200 MW combined gross capacity (246 MW at the CLI India platform level). Tower 2 features one of the largest single-tower liquid cooling implementations in Asia-Pacific, designed to serve AI workloads from hyperscale cloud providers; 53% of total data centre gross capacity is pre-leased to global hyperscale cloud services providers.

CLINT's revenue model is recurring rental income from long-duration corporate leases, supplemented by capital recycling — including maiden office divestments of CyberPearl (Hyderabad) and CyberVale (Chennai) for S$161.7 million, partial data centre stake sales to the affiliated CapitaLand India Data Centre Fund, and acquisitions/forward purchases such as a S$233.6 million Bengaluru office project from MAIA Estates. Capital is raised through SGX-listed unit issuances (e.g., a S$150 million private placement in February 2026 oversubscribed 2.6x) and a newly launched onshore Indian bond programme targeting S$500-700 million over 2-3 years. Operating metrics are robust: 91% portfolio occupancy with 17% positive rental reversion, FY2025 property income of S$294.4 million (+6% YoY) and net property income of S$224.9 million (+9%).

Name

CapitaLand India Trust (CLINT)

Legal name

CapitaLand India Trust

Website

https://clint.com.sg

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

CapitaLand India Trust (CLINT) is a Singapore-listed business trust owning eight IT parks, one logistics park, and three data centre developments (200 MW capacity) across India, generating recurring rental income from corporate IT/BPM tenants, global hyperscale cloud providers, and industrial logistics customers.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Trust (IT Parks, Data Centres, Industrial/Logistics)

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Trust, Fiduciary, and Custody Activities (523991)

SIC

Real Estate Investment Trusts (6798), Investors, Nec (6799)

akta.pro primary industry

Corporate & Institutional Trust Services (FSAAANAB)

akta.pro secondary industry

Trust Administration & Fiduciary Accounting Services (FSAAANAF)

Keywords

• Commercial real estate trust
• IT business parks
• Data centre leasing
• Industrial logistics properties
• India property trust

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Rental Income from Corporate Leases: CLINT generates primary revenue from long-term leases to corporate tenants in the IT and business process management sectors across its portfolio of IT parks, industrial/logistics facilities, and data centres in India. The trust structures leases to deliver stable income distributions to unitholders, similar to a REIT model.
2. Development and Capital Recycling: CLINT develops vacant land in its portfolio and acquires new properties, monetising assets through strategic divestments (e.g., CyberPearl Hyderabad and CyberVale Chennai for S$161.7 million; partial stake sales in data centres to CIDCF). Supports reinvestment into higher-yielding assets.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

CapitaLand India Trust (CLINT) is a Singapore-listed business trust that owns and operates income-producing commercial real estate in India, comprising eight IT business parks, three industrial facilities, one logistics park, and three data centre developments across Bangalore, Chennai, Hyderabad, Pune, and Mumbai. The trust earns primarily rental income from long-term corporate leases to IT/BPM tenants, hyperscale cloud providers, and industrial/logistics operators, while pursuing capital recycling, development of vacant land, and acquisitions to enhance distributions.

Product overview

CapitaLand India Trust (CLINT) is a Singapore-listed business trust structured as a real estate investment trust (REIT), offering both growth potential and income stability through a diversified portfolio of commercial real estate assets in India. The trust operates three core product lines: (1) IT Parks/Business Parks - eight world-class IT business parks across Bangalore, Chennai, Hyderabad, Pune, and Mumbai with 21.7 million square feet of completed floor area; (2) Data Centres - three data centre developments in Navi Mumbai, Hyderabad, and Chennai with combined capacity of 200+ megawatts featuring AI capabilities and liquid cooling for hyperscalers; and (3) Industrial/Logistics Facilities - three industrial facilities and one logistics park. CLINT focuses on capitalizing on India's growing IT industry, industrial/logistics sectors, and digital infrastructure while enhancing shareholder value through active property management, development of vacant land, and strategic acquisitions.

Differentiator

Problem solved

Functional benefit

Products and services

• IT and Business Parks Portfolio of eight world-class IT business parks providing 21.7 million sq ft of Grade A office space for IT and BPM tenants across Bangalore, Chennai, Hyderabad, Pune, and Mumbai, leased on long-term contracts to multinational and domestic corporations.
• Data Centre Developments Three data centre developments in Navi Mumbai, Hyderabad, and Chennai with combined gross power capacity of 200 megawatts, featuring AI-ready liquid cooling infrastructure for hyperscale cloud providers, global technology companies, and large enterprises.
• Industrial and Logistics Facilities Portfolio of three industrial facilities and one logistics park, including the CyberVale Free Trade Warehousing Zone, providing modern warehouse, industrial, and logistics space for supply chain, e-commerce, and 3PL operators in India.

Quantifiable outcome

• FY2025 total property income increased 6% to S$294.4 million; net property income up 9% to S$224.9 million; DPU increased 15% to 7.87 Singapore cents
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered minor, core and major.

• Mindspace Business Parks REITminorStrategic or Co-development Partner · 14 April 2026Mindspace Business Parks REIT acquired a 51% stake in International Tech Park Chennai (ITPC) from AIGP2 Chennai 1 (a subsidiary of CapitaLand India Growth Fund 2) for approximately Rs 3,000 crore, with 360 ONE Asset retaining the remaining 49%.
• Global Hyperscale Cloud Services ProvidercoreOthers · 15 January 2026CLINT secured a second long-term pre-leasing agreement with a global hyperscale cloud services provider for Tower 2 of its CapitaLand DC Navi Mumbai data centre (37 MW IT load / 55 MW gross power capacity). This follows a first hyperscaler agreement signed in January 2025.
• EAAA Alternatives (Edelweiss Group)minorChannel Partner/ Reseller/ Distributor · 9 January 2026EAAA Alternatives, part of Edelweiss Group, acquired CapitaLand's 1.9 million sq ft International Tech Park in Gurugram from CLINT/CLI for Rs 2,050 crore as part of CLINT's capital recycling strategy to divest non-core assets.
• MAIA EstatesmajorStrategic or Co-development Partner · 21 February 2025CLINT entered into a forward purchase agreement to acquire an office project at Nagawara, Bengaluru, from MAIA Estates for approximately Rs 1,471.7 crore. MAIA has a development pipeline of approximately Rs 7,000 crore and is expanding from Bengaluru and Chennai into Mumbai.

Scale indicators12 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• Embassy Office Parks REIT: India's first listed REIT and the largest office REIT in India, owning Embassy Tech Square, Manyata Tech Park, and other Grade A IT/business parks in Bangalore, Mumbai, and other major hubs. Closest comparable in scale, asset class, and target tenant base to CLINT's Indian IT park portfolio.
• Nexus Select Trust: India-listed REIT primarily focused on retail and select commercial assets, sponsored by Blackstone. While retail-weighted, it operates in the same listed-India-REIT space, with similar regulatory structure (SEBI InvIT/REIT regime) and unitholder base as CLINT.
• Keppel DC REIT: Singapore-listed data centre-focused REIT with assets across Asia-Pacific and Europe. Directly comparable to CLINT's growing data centre vertical, with similar hyperscaler tenant base, long-WALE lease structures, and exposure to AI-driven capacity demand.
• Brookfield India Real Estate Trust: India-listed REIT sponsored by Brookfield, owning and operating large campus-style office parks in Mumbai, Gurugram, Noida, and Kolkata. Comparable to CLINT in targeting large enterprise and IT tenants with multi-million sq ft Grade A assets in India's primary business districts.
• Digital Core REIT: Singapore-listed pure-play data centre REIT with a portfolio of facilities serving hyperscale tenants globally. Comparable to CLINT in data centre asset class, hyperscaler tenant focus, and capital structure as a Singapore-listed trust, though with global rather than India-only geographic exposure.
• Mindspace Business Parks REIT: India-listed office REIT (Mindspace) operating Grade A business parks in major Indian cities, directly comparable to CLINT's IT park portfolio. In 2026, Mindspace acquired a 51% stake in CLINT's ITPC, illustrating its role as both a competitor and transactional counterparty in the same asset class and geographies.

Emerging players

• Yotta Data Services: India's largest homegrown data centre operator, a Hiranandani Group company operating hyperscale and enterprise data centres across India. Comparable to CLINT's data centre development pipeline as a competing supplier of hyperscale-grade capacity, though Yotta operates rather than just invests in data centres.

Broad incumbents

• CapitaLand Ascendas REIT: Singapore-listed REIT under the same CapitaLand Investment platform as CLINT, with a much larger and more diversified Asia-Pacific business park and logistics portfolio. Directly comparable in sponsor, governance, asset class, and unitholder base, though primarily focused on Singapore, Australia, and US/UK assets rather than India.
• CapitaLand Integrated Commercial Trust: Largest Singapore-listed REIT and a sister trust under CapitaLand Investment, focused on Grade A office and retail assets in Singapore. Comparable in trust structure, sponsor, and income-distribution model, though it operates in Singapore commercial real estate rather than Indian IT parks and data centres.

Regional players

• Mapletree Pan Asia Commercial Trust: Singapore-listed diversified REIT with office and retail assets across Singapore, China, Japan, and other Asia-Pacific markets. Comparable in Singapore-listed REIT structure, distribution policy, and Asia-Pacific real estate focus, but does not directly compete in the Indian IT park or data centre space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/CapitaLand
• YouTubeyoutube.com/user/CapitaLandGroup
• Facebookfacebook.com/capitaland
• LinkedInlinkedin.com/company/capitaland-limited
• Instagraminstagram.com/capitaland

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries10 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CapitaLand India Trust (CLINT)