INDUSTRIAL AND LOGISTICS REAL ESTATE: THE BACKBONE OF A SELF-RELIANT ECONOMY

What inspired you to establish Pragati Group?
Coming from a farming background, I’ve always felt a deep connection to land and the systems supporting it. My Army career refined my understanding of supply chain and logistics networks, highlighting how infrastructure bridges producers and markets. When I transitioned to civilian life in 2009, I saw an opportunity to apply that expertise to India’s expanding industrial sector— beginning with one of the first built to-suit projects for DHL–Bluedart in NCR. My vision for Pragati Group was to build world-class Grade-A industrial and logistics parks that strengthen India’s competitiveness while reinforcing investor confidence through reliability and performance.

How is Pragati adapting to evolving industry needs?
The warehousing landscape has matured beyond e-commerce-led demand to a more diverse, manufacturing-driven base, spurred by Make in India and Atmanirbhar Bharat. At Pragati, we’ve evolved from executing projects to co-developing them with clients—from the design and specification stage to automation-ready, sustainable infrastructure. Our experience with Amazon, DHL, and Flipkart has shaped this approach. Sustainability remains core to our vision, with emphasis on self-sufficient, renewable, and resource efficient ecosystems.

Which regions form Pragati’s growth focus?
Pragati aims to expand rapidly across key Tier-1 population centers that serve as strategic gateways to Tier-2 markets. Pragati’s institutional journey began in 2018 with Morgan Stanley’s partnership, followed by a $200 million investment from Hillhouse Capital in 2022, and a recent top-up from Mitsubishi Estate. With this backing, we are developing high quality industrial and warehousing assets across Delhi, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata—creating a connected network that supports manufacturing and regional distribution. Our growth aligns with macroeconomic drivers like the China+1 shift, the Gati Shakti infrastructure push, and rising consumption in emerging cities.

Future outlook for India’s industrial and logistics real estate
Valued at about USD 60 billion in 2024 and growing at 9–10% CAGR, India’s logistics real estate is entering a new phase of acceleration. Over the next decade, demand will be driven by sectors such as electronics, green energy, electric mobility, pharmaceuticals, and cold-chain logistics.


Pragati is developing next-generation parks that integrate renewable energy, AI-driven facility management, and circular sustainability principles.