Welspun One acquires 107 acres in Karnataka for warehousing projects

Welspun Group-backed warehousing and logistics platform Welspun One Logistics Parks (WOLP) on Wednesday announced it has acquired two land parcels totalling 107 acres in southern India for two warehousing projects.

With this acquisition, the company's total footprint has expanded to over 260 acres across Karnataka and Tamil Nadu, marking a significant step in strengthening its pan-South India presence, Welspun One said.

This portfolio represents a development potential of over 6 million sq ft, supported by a committed investment of $250 million (Rs 2,150 crore), the company said.

Welspun One said it has acquired around 51 acres of land in Hoskote and 56 acres in Devanahalli, Karnataka.

 

With these acquisitions, the company has further strengthened its presence in South India, underscoring its confidence in the region's long-term growth potential.

"The Bengaluru market in particular holds immense promise, and these investments demonstrate our conviction and capability," said Balkrishan Goenka, Chairman, Welspun Group.

These acquisitions will enhance Welspun One's warehousing capabilities, creating scalable hubs to serve diverse occupiers across multiple industries, the company said.

In East Bengaluru's Hoskote cluster, Welspun One has acquired around 51 acres for its Proxima category park, a Grade-A warehousing facility built to serve 3PLs, FMCG, and retail players, it said.

The second acquisition, around 56 acres in Devanahalli, is part of the upcoming Proxima Plus category, a first-of-its-kind premium warehousing development by Welspun One.

Proxima Plus parks by Welspun One are designed to serve discerning occupiers, including electronics, aerospace, EV, and pharma firms, offering plug-and-play features, tech-enabled infrastructure, and superior design aesthetics.

"From North Chennai to Bengaluru, we've stayed ahead of the curve, identifying and investing in the right micro-markets before they turn mainstream, " said Anshul Singhal, Managing Director, Welspun One Logistics Parks.