NEW DELHI: IndoSpace, India’s largest developer and owner of grade A industrial real estate and logistics parks, commits Rs 1,000 crore in a new joint venture (JV) with KSH INFRA to develop a 10 million square feet portfolio of world-class warehousing and logistics parks across the country, over the next five years.
The JV will focus on premium micro-markets such as Pune, Mumbai, Delhi-NCR, and Bengaluru.
The focus of the partnership will also be on developing sustainable, resource-efficient, zero-carbon buildings. This will ensure customers benefit from the energy and water savings. The projects will also use environment friendly, energy-efficient building materials, meeting global Green Building Standards. In addition, these buildings will be EDGE / IGBC certified and will be branded under KSH INFRA.
Avendus Capital was the exclusive financial advisor on the transaction.
Speaking about the partnership, Rajesh Jaggi, Vice Chairman, Real Estate, Everstone Group, said, “Due to pent-up demand, the opportunity is enormous. As a market leader, we are always on the lookout to deliver on our promise of a world-class warehousing backbone to India’s growth. We are delighted to partner with a reputed and renowned brand like KSH INFRA. With its established and proven expertise, it is sure to add immense value to this joint venture.”
Rohit Hegde, Managing Director, KSH INFRA, said, “We see increasing demand for warehousing and industrial infrastructure from e-commerce, third party logistics, and manufacturing players looking to set up base in India. Given the immense growth opportunity, we are excited to partner with the market leader. With Indospace, we plan to expand our footprint pan India.”
Prateek Jhawar, Executive Director and Head, Infrastructure & Real Assets, Avendus Capital, said, “This is a unique partnership between two of India’s leading developers in the warehousing space. It will enable both players to leverage their strengths to deliver superior outcomes for their clients and investors. With its consistent delivery of quality assets, high governance standards, and a transparent operating framework, KSH INFRA has carved a niche for itself among local developers as the partner of choice for institutional investors. We are proud to be associated with KSH over the years across multiple transactions.”