CPPIB-backed IndoSpace Core adds six logistics parks in India for ₹3,000 cr

The acquisition adds 9 msf of leasable space across major cities and expands IndoSpace Core's portfolio to 22 msf, reinforcing its position in India's industrial and logistics market

IndoSpace Core, a joint venture between Canada Pension Plan Investment Board (CPPIB) and IndoSpace, has acquired six industrial and logistics parks valued at Rs 3,000 crore.

 

The Canadian pension fund, which has a 93 per cent stake in IndoSpace Core, will commit Rs 1,400 crore to fund the acquisition. The joint venture was established in 2017 to acquire and develop logistics facilities across India.

 

“This acquisition strengthens IndoSpace Core’s position as India’s largest operator of stabilised industrial and logistics real estate,” IndoSpace noted.

 

The six assets collectively span 380 acres with a leasable area of about 9 million square feet (msf), adding to IndoSpace Core’s portfolio of fully developed, income-generating parks. These projects are located in Bengaluru, Chennai, Delhi, Mumbai and Pune.

 

“India’s logistics sector continues to benefit from strong structural growth, driven by urbanisation and the expanding manufacturing footprint. Our longstanding partnership with IndoSpace has enabled us to capture high-quality opportunities in this space. 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.

 

Anshuman Singh, managing director and chief executive officer, IndoSpace, said: “This transaction reflects how India’s logistics sector has evolved into a long-term investment story driven by stable demand and institutional confidence. With over 60 msf developed and under development, IndoSpace has established itself as the largest player in India’s industrial and logistics real estate sector. This acquisition further reinforces the strength of our partnership with CPP Investments, built on a shared belief in India’s potential as a global hub.”

 

Following this transaction, IndoSpace Core’s portfolio will expand to 22 msf of leasable area across 948 acres, serving over 120 global and domestic companies across six major industrial hubs: Bengaluru, Chennai, Delhi, Hyderabad, Mumbai and Pune.

 

Singh noted that IndoSpace’s strategy is to remain capital-efficient and proactive in pursuing new development opportunities. “As India cements its status as a global manufacturing hub, we are witnessing increasing demand for high-quality, compliant and sustainable infrastructure. This is precisely where we envisage our next phase of growth unfolding.”

 

The investment comes at a time when India’s industrial and warehousing sector has been witnessing an upcycle driven by third-party logistics and e-commerce. According to Colliers, in the first nine months of 2025, the cumulative demand across the top eight Indian markets reached 26.5 msf, up 11 per cent year-on-year.

 

During the same period, grade A space uptake was at an all-time high, despite global players remaining cautious amid ongoing trade frictions, signalling sustained momentum, the sector’s strong fundamentals and continued occupier interest across key industrial and warehousing markets.