IndoSpace, the industrial real estate platform set up by Indian private equity firm Everstone Capital, said Wednesday it has committed Rs 1,000 crore ($130 million) in a new joint venture with KSH Infra.
The JV will develop a portfolio of 10 million square feet of warehousing and logistics parks across the country over the next five years, IndoSpace said in a statement.
It will focus on premium micro-markets such as Pune, Mumbai, Delhi-NCR and Bengaluru. The projects will be branded under KSH Infra.
“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. With Indospace, we plan to expand our footprint pan India,” said Rohit Hegde, managing director at KSH Infra.
IndoSpace has a network of 42 logistics parks with 48 million square feet delivered or under development across ten cities. It is believed to be India’s largest private developer and owner of Grade A industrial real estate and logistics parks.
KSH Infra is a specialised industrial and logistics infrastructure developer based out of Pune and is part of the KSH Group. The 50-year-old group runs multiple businesses such as internal container depots, manufacturing and third-party logistics.
KSH Infra has previously worked with investors such as Pacific Century Group of Hongkong, Mapletree Investments of Singapore, and Morgan Stanley Real Estate Fund. It has delivered over 3 million square feet of Grade-A industrial and logistics infrastructure to multinational companies such as Kawasaki Motors, Faurecia, Kimberley Clark, Jabil, Bosch, Renault Nissan and Callisons.
Avendus Capital was the exclusive financial advisor on the transaction.