​​​
  1. Hiranandani Group plans to foray into warehousing, logistics with Rs 3000 cr investment

Hiranandani Group plans to foray into warehousing, logistics with Rs 3000 cr investment

Hiranandani Group is planning a foray into the warehousing and logistics industry with an investment of Rs 3,000 crore. As part of its initial plan, it is looking to develop over 400 acres across Pune, Chennai and Nashik.

By: | Mumbai | Published: April 7, 2018 1:28 AM
Hiranandani Group, warehousing, logistics, investment, Niranjan Hiranandani Hiranandani Group is planning a foray into the warehousing and logistics industry with an investment of Rs 3,000 crore. As part of its initial plan, it is looking to develop over 400 acres across Pune, Chennai and Nashik.

Hiranandani Group is planning a foray into the warehousing and logistics industry with an investment of Rs 3,000 crore. As part of its initial plan, it is looking to develop over 400 acres across Pune, Chennai and Nashik. In Pune, the company has earmarked 250 acres for the purpose and plans to make 10 million square feet operational before the end of the year, in phases. The company has earmarked 77 acres in Chennai and 100 acres in Nashik, which will be developed at a slightly later date. Hiranandani Group co-founder and MD Niranjan Hiranandani said the logistics parks are being planned on the lines of similar facilities abroad, which have a mix of residential development along with industrial establishments, warehousing and logistics. He said, “China does this as a policy throughout their country. I think we need to do this in India too. The people who are now coming to work in factories in the areas that we are building, come from two hours away, which is ridiculous. We want to create the type of accommodation for these people which will help them to live much closer to their workplaces.” Hiranandani said the company could either lease space to interested parties, sell, or tie up with a logistics company to jointly operate the facilities. He said, “We see a huge opportunity in warehousing and logistics in the coming years. We know this business is expanding. I think it will double in the next year and continue to grow rapidly. We will be a big player in this space.” He added that the company has also been in discussions to attract equity investments in the proposed logistics platform, though nothing has fructified yet. Apart from physical warehousing space, the company is also planning value-added facilities such as small repair shops for trucks, food and accommodation for truck drivers, dispensaries and even shopping areas. “We have ideas like these, though we may not necessarily start with all of them from the beginning,” Hiranandani said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top