Puravankara to invest Rs 1,500 cr in warehousing on e-commerce surge

Real estate company Puravankara is planning to enter warehousing realty sector as the opportunity in the segment expands because of the Covid-19 pandemic.

The company will invest Rs 1,500 crore in the business in the next five years through joint ventures (JV) and strategic partnerships, said its top executive. Currently, it has tied up with Morgan Stanley as a JV partner for the warehousing business and will be concentrating on Bengaluru, followed by Mumbai, Hyde­rabad, Chennai and Pune.

“The warehousing opportunity has gone beyond lifestyle products and even food and groceries. As e-commerce is making such big promises, quick availability of products