Hiranandani Group to foray into industrial and logistics parks

Hiranandani Group

is looking to develop industrial and logistics parks across the country.

Apart from its own land bank of over 500 acres in different parts of the country reserved for this purpose, the company is acquiring new land parcels either directly or through partnership and joint venture models in strategic locations. To begin with, the Mumbai developer has earmarked land parcels at Talegaon in Pune, Nashik, Panvel near Mumbai, Chennai’s Oragadam and Durgapur in Kolkata for developing these projects.

“The government’s Make-in-India programme and introduction of unified tax structure in the form of GST (goods and services tax) has brought a structural shift to small fragmented warehouse networks in the consolidated space, along with large distribution chains and centralized hubs,” said Niranjan Hiranandani, managing director, Hiranandani Communities.

The operating model of GreenBase, the company’s new vertical for industrial and logistics parks, will include built-to-suit industrial facilities, cold storage and built-to-suit warehouses for end customers as well as large third-party logistics players. The government’s decision to accord infrastructure status to the logistics industry is allowing developers to access low-cost funds for the development. All these factors together provided an impetus to the group to diversify and enter the industrial and logistics sector, said Hiranandani.

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