CapitaLand India Trust divests CyberVale and CyberPearl for S$161.7m
The divestment is aimed at unlocking asset value, strengthening financial agility, and supporting its portfolio reconstitution strategy.;
CapitaLand India Trust (CLINT) has announced the divestment of its CyberVale property in Chennai and CyberPearl property in Hyderabad to an unrelated third party for Rs.11,031 million (approximately S$161.7 million). This marks CLINT’s first divestment since its listing in 2007 and is aimed at unlocking asset value, strengthening financial agility, and supporting its portfolio reconstitution strategy.
The assets will be divested at about a 3% premium to their independent valuations as of December 31, 2024. The net proceeds are expected to be Rs.10,828 million (approximately S$158.8 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, Chennai, while CyberPearl is a 0.4 million sq ft IT Park in HITEC City, Hyderabad.
Mr Gauri Shankar Nagabhushanam, Chief Executive Officer of CapitaLand India Trust Management Pte. Ltd., the Trustee-Manager of CLINT, said, “The successful divestment of CyberVale and CyberPearl marks the commencement of our capital recycling strategy to optimise CLINT’s portfolio and enhance our financial agility. 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.”
Following the divestment, CLINT’s total completed floor area across its portfolio will stand at 21.2 million sq ft. In Chennai, the portfolio will include International Tech Park Chennai, three industrial facilities, and one data centre under development. In Hyderabad, the portfolio will comprise International Tech Park Hyderabad, aVance Hyderabad, and one data centre under development.
As at 30 June 2025, CLINT’s assets under management stood at S$3.7 billion. Its portfolio spans Bangalore, Chennai, Hyderabad, Pune, and Mumbai, including 10 IT business parks, three industrial facilities, one logistics park, and four data centre developments. CLINT is managed by CapitaLand India Trust Management Pte. Ltd., a wholly owned subsidiary of Singapore-listed CapitaLand Investment Limited.