IndoSpace, which builds industrial real estate and logistics parks, has committed Rs 1,000 crore in a new joint venture (JV) with KSH Infra to develop a 10 million square feet portfolio of warehousing and logistics parks across India.
The JV, over five years, will focus on smaller markets such as Pune, Mumbai, Delhi-NCR, and Bengaluru. IndoSpace has the largest network of 42 logistics parks with 48 million square feet delivered/under development across ten cities.
The JV will develop sustainable, resource-efficient, zero-carbon buildings to help customers save energy and water. Its projects will use environment friendly, energy-efficient building materials.
“Due to pent-up demand, the opportunity is enormous. We are always on the lookout to deliver on our promise of a world-class warehousing backbone to India’s growth,” said Rajesh Jaggi, vice chairman of real estate at Everstone Group.
Avendus Capital was the exclusive financial advisor on the transaction.
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