avigna group warehousing space
Betting big on the future biz potential in the country's warehousing sector in East and Northeast India, the Bengaluru-based Avigna group has planned to build 5 million sq ft (MSF) of industrial warehouses across Patna, Kolkata, Guwahati and Siliguri involving an investment of ₹1,000 crore. It aims to tap the growing demand for warehouses to cater to the emerging demands for consumer durables, FMCG and pharmaceuticals. The group has already launched such projects across South India, developing 10 MSF of warehousing space and is also setting up a 2MSF facility in Bhiwandi (Thane). CEO Abhijit Verma informed that all the projects will be completed in a phased manner as the company is focusing on Tier-II cities and the e-commerce surge has opened up these areas. Warehousing is growing at a CAGR of 5% before 2019, but now it's 12-14% annually and can go to 18-20% in coming years as enterprises have realized the value of an efficient supply chain network. Guwahati is the gateway to the Northeast, and the Patna warehouse will cover Bihar, Nepal, north of West Bengal and east of UP as both the cities have good road and air connectivity.