Days after the diversified Adani Group announced USD10 billion investment in setting up data centres, the city-based realtor Hiranandani Group has also announced a similar plan with an investment of at least Rs 11,000 crore over the next few years.

The announcement comes nearly a year after the group announced plans to invest nearly Rs 4,000 crore in the gas business.

First of the 11 proposed data centres under a new business vertical called 'Yotta', will come up on a land parcel next to an upcoming township of the group at Khopoli off Navi Mumbai, while it will also set up such centres in Mumbai and Chennai later.

The group will invest Rs 1,000 crore for each of the 11 data centres, which will come up in a phased manner, managing director and chief executive Darshan Hiranandani said Thursday without offering a time-line.

The 11 datacentres will be spread across 6 million sqft of space and will require 500 mw of power, he said, adding the first centres will go live by December.

The announcement to branch out into other businesses come amid continued sluggishness in its core business of real estate which has been struggling for long now.