Indospace injects Rs. 500cr in logistic park

Boosting logistics infrastructure in and around Delhi, Indospace Logistics Fund, investing largely in logistics and industrial real estate, has drawn up plans to set up Rs. 500cr integrated logistics park in the national capital region (NCR). The company is currently negotiating with FWS, a Delhi based logistics builder to build the facility which will have large warehouses and retail consumer goods companies as its clients.

Company sources revealed that the proposed implementation of the goods and services tax (GST) is expected to create requirements for large warehouses that will replace the current practice of smaller stock yards in multiple states. It until recently has been following a model of buying land and building industrial real estate projects and the current deal would be a part of that focus. If things move as per plans the facility would be one of the Everstone Capital's largest investments after Kishore Biyani's Future Group.

The Indospace, which is a part of Sameer promoted Everstone Capital, is currently a $250 million fund entity with joint venture with Realterm Global, a US based industrial real estate investment funds and it already has projects underway in Pune and Chennai creating similar facilities. The FWS, which is a logistics creator promoted by a Delhi based businessman, Vikas Yadav has already leased about 1.5 million square feet of logistics space across the NCR where its clients include companies like P&G, DHL and Future Group.