The Apeejay Surrendra Group has raised Rs 300 crores for its logistics and industrial parks division through the Non-Convertible Debentures (NCD) route. Future expansions are planned in National Capital Region (NCR), Kolkata, Lucknow, and Guwahati, the company said. BPEA Credit has invested in NCD issued by the Apeejay Surrendra Group.
The fund will fuel the ongoing expansion drive of the century-old Kolkata-based services and industrial conglomerate, Apeejay Surrendra Group's Real Estate division, Apeejay Real Estate (ARE). ARE has a rapidly expanding and diverse portfolio of interests in logistics and industrial parks, residential, commercial, hospitality, co-working spaces and business centres, service apartments, cultural and educational institutions, and retail across multiple locations in India.
Its logistics and industrial parks are located in cities across India including Delhi NCR, Kolkata, Dankuni, Haldia, and Kalinganagar, the company portfolio boasts of Grade-A quality warehouse facilities.
“We are ready to be the crucial support system to help Indian products dominate the world market. The government projection to reduce costs in the logistics sector by 10% in the next 5 years, unified policy, and a regulatory environment for end-to-end logistics services make the logistics and warehouse more and more promising. Backed by the government policy and with funds coming in, we are now on a rapid expansion drive,” said Karan Paul, Chairman, Apeejay Surrendra Group.
Priti Paul, Director, Apeejay Surrendra Group said, “ARE’s strategically located futuristic logistics and industrial parks currently have the capacity to reach 90% of India's 1.3 bn population. This, we believe, is the right time to grow. The funds would augment our current logistics and industrial parks, as well as build new facilities across the country." "We are creating Grade-A warehouses with ESG compliance and setting new standards in specifications as well as building built-to-suit as per clients’ requirements,” she said.
In India's tier 1, tier 2, and tier 3 cities, ARE is developing over five mn sq ft of property. Apeejay Global Logistics Park Ballabhgarh, Apeejay Industrial & Logistics Park Hyde Road, Apeejay Infralogistics Park Haldia, and Apeejay Logistics Park Kalinganagar are the existing parks in the Warehouse Real Estate market, with more parks on the way.
