IndoSpace, Everstone Group's industrial and logistics real estate development platform, 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 as well as logistics parks in the country over the next five years.
The JV will focus on premium micro-markets such as Pune, Mumbai, Delhi-NCR, and Bengaluru.
“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,” said Rajesh Jaggi, Vice Chairman, Real Estate, Everstone Group.
The demand for warehousing and industrial infrastructure from e-commerce, third party logistics, and manufacturing players looking to set up base in India was expected to rise, KSH Infra Managing Director Rohit Hegde said.
“Given the immense growth opportunity, we are excited to partner with the market leader. With Indospace, we plan to expand our footprint pan India,” KSH Infra Managing Director Rohit Hegde said.
The focus would also be on developing sustainable, resource-efficient, zero-carbon buildings. This would 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. These buildings will also be EDGE / IGBC certified and branded under KSH Infra, the company said.
Avendus Capital was the exclusive financial adviser on the transaction. “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,” Prateek Jhawar, Executive Director and Head, Infrastructure & Real Assets, Avendus Capital, said,
Founded in 2007 by Everstone and Realterm, IndoSpace has a network of 42 logistics parks with 48 million square feet delivered and under development in 10 cities.