Welspun One Logistics Parks (WOLP), part of Welspun Group, on Wednesday announced the acquisition of two plots of land totalling 107 acres near Bengaluru, including ~51 acres land in Hoskote, and ~56 acres land in Devanahalli. Both the plots have a development potential of 2.25 million sq ft.
Though the company did not disclose the acquisition value, market sources estimate the deal value to be around Rs 400 crore.
Expansion of South India portfolio
The two new projects mark the expansion of Welspun One’s South India presence, taking its regional land bank to over 260 acres across Karnataka and Tamil Nadu, the company said. This portfolio represents a development potential of over 6 million sq ft, supported by an investment of $250 million (Rs 2,150 crore).
In East Bengaluru’s Hoskote cluster, Welspun One has acquired ~51 acres for its Proxima category park, a Grade-A warehousing facility built to serve 3PLs, FMCG, and retail players.
The second acquisition, ~56 acres in Devanahalli, is part of the upcoming Proxima Plus category, a premium warehousing development by Welspun One.
Warehousing sector sees record growth
Welspun One reported assets under management (AUM) of Rs 10,000 crore as of June 2025. The firm aims to build 20–25 million sq ft portfolio with $2.5 billion AUM by 2028, with South India expected to play a pivotal role in achieving this goal.
The country’s warehousing and industrial market recorded its best-ever half-yearly performance, with leasing volumes rising 42% year-on-year to 32.1 million sq ft across the top eight markets, according to Knight Frank India’s latest report.
The strong growth was led by manufacturing sector, which saw 71% surge in leasing volumes to 14.6 million sq ft, accounting for 45% of all transactions in H1 2025. Mumbai and Pune together accounted for 44% of this manufacturing-led space, with key transactions from SKS Fasteners, RenewSys India, Godrej & Boyce, and Lupin.