Welspun One expands Bengaluru land bank with 107-acre acquisition

Welspun One expands Bengaluru land bank with 107-acre acquisitions

Welspun One Logistics Parks, a warehousing and industrial real estate developer, has acquired two 107-acre land parcels in Bengaluru, taking its  South India footprint to more than 260 acres.

The company acquired 51 acres in East Bengaluru’s Hoskote and 56 acres in Devanahalli. These acquisitions, which expand its portfolio across Karnataka and Tamil Nadu, takes the firm’s development potential to more than 6 million sq ft backed by an investment of $250 million (Rs 2,150 crore), Welspun One said in a release on August 20.

In Hoskote cluster has been acquired for a Proxima park, a Grade-A facility for third-party logistics (3PLs), fast-moving consumer goods (FMCG), and retail. The area already houses Amazon, Flipkart, and DHL and is supported by the Satellite Town Ring Road (STRR) and the Bengaluru-Chennai Expressway.

The Devanahalli parcel will host the first Proxima Plus park, Welspun One’s premium warehousing category. Near the Airport City and the proposed Multi-Modal Logistics Park (MMLP), it would offer multimodal connectivity and access to north, east, and central Bengaluru within 60 minutes, it said.

Proxima Plus targets sectors such as electronics, aerospace, electric vehicles (EV), and pharmaceuticals (pharma), with plug-and-play features, tech-enabled infrastructure, and advanced design.

These acquisitions expand Welspun One’s Bengaluru. With warehousing demand expected to grow 15 percent annually, the company plans scalable solutions in supply-constrained markets.

Welspun Group chairman Balkrishan Goenka said, “Welspun One’s momentum in the South underscores our group's larger vision, to build long-term, future-facing businesses that power India's infrastructure story.”

The Bengaluru market holds immense promise and these investments demonstrate the firm’s conviction and capability. “As a Group, we’re proud to back businesses that drive innovation, create employment, and add real economic value to the regions we serve,” he said.

Welspun One is targeting third-party 3PLs, FMCG, electronics, retail, and EV industries through purchases, joint ventures, and leasehold models. Each park will have Internet of Things (IoT)-based parking, environmental, social and governance (ESG) compliance, solar-ready roofing, electric vehicle (EV) charging, rest areas, and facilities for women such as crèches and skill development centres, it said.

The company aims to build a 20–25 million sq ft portfolio with a $2.5 billion assets under management (AUM) by 2028, with South India as a key focus.