IndoSpace Core acquires six logistics parks across India for ₹3,000 cr

The six parks, located across key logistics markets, including Bengaluru, Chennai, Delhi, Mumbai, and Pune, collectively span 380 acres with a leasable area of around 9 mn sq ft feet, said company

CPP Investments and IndoSpace joint venture IndoSpace Core on Tuesday announced the acquisition of six industrial and logistics parks valued at Rs 3,000 crore (471 million Canadian dollars).

The six parks, located across key logistics markets, including Bengaluru, Chennai, Delhi, Mumbai, and Pune, collectively span 380 acres with a leasable area of around 9 million sq ft feet, the company said. Set up in 2017 to acquire and develop logistics facilities across India, IndoSpace Core is co-owned by supply chain infrastructure platform IndoSpace and Canada Pension Plan Investment Board (CPP Investments), which holds a 93 per cent stake in the JV (joint venture).

CPP Investments will commit Rs 1,400 crore (217 million Canadian dollars) to fund the acquisition, it said. The latest acquisition strengthens the JV's position as India's largest operator of stabilised industrial and logistics real estate, the company said.

"India's logistics sector continues to benefit from strong structural growth, driven by urbanisation and the expanding manufacturing footprint. We believe this acquisition will deliver attractive, risk-adjusted returns for CPP contributors and beneficiaries," said Hari Krishna V, Managing Director, Head of Real Estate India and Mumbai Office Head, CPP Investments.

Following this transaction, IndoSpace Core's portfolio will expand to 22 million sq ft of leasable area across 948 acres, catering to over 120 global and domestic companies across six major industrial hubs-- Bengaluru, Chennai, Delhi, Hyderabad, Mumbai, and Pune.

IndoSpace strategy is to remain capital-efficient and proactive in pursuing new development opportunities. As India cements its status as a global manufacturing hub, the platform is witnessing an increasing demand for high-quality, compliant, and sustainable infrastructure and this is where the company precisely envisages its next phase of growth unfolding, said Anshuman Singh, Managing Director and CEO, IndoSpace.

"This transaction reflects how India's logistics sector has evolved into a long-term investment story driven by stable demand and institutional confidence," he said.

With over 60 million square feet developed and under development, IndoSpace has established itself as the largest player in India's industrial and logistics real estate sector, Singh added.