Rs. 38 Crores Warehousing Facility To Setup By Embassy Industrial Parks In Gurgaon

A warehousing Facility, with world-class facility, worth Rs. 38 crores have been set up in Gurgaon by Embassy Industrial Parks. It shall be located at the NH-8 with a leasable area of 6.1 lakh sq. ft and an amount of Rs. 140 crores has been invested in the total project. It will cater to the companies which deal with third-party logistics, retail sectors, FMCG, pharmaceuticals and ecommerce.

Embassy Industrial Park is a joint venture between Warburg Pincus and Embassy Group. While the former company is a private equity giant, the later one is a well known realty developers. A pact of Rs. 1910 crores was signed between the Haryana government and the Embassy Industrial Parks last year and this ‘warehouse’ deal is considered as a part of this ‘mega’ project.

As the Delhi-NCR region caters to the 25% of warehouse facilities required across India, Embassy Industrial Parks is looking to acquire more land in the region. The aim of warehouse is to facilitate domestic and multinational companies within region which are looking out to expand their operations. The company has recently built up a 1.1 million sq ft industrial park at Chakan in Pune. An amount of Rs. 350 crores was invested in this Pune. Another warehouse at Chennai is already in process and involves an amount of Rs. 170 crores as investment. This industrial warehouse in Chennai shall be worked out as a joint venture between Brookfield Asset Management and Embassy.

The company is aiming to invest in 7-8 industrial parks over next 5 years in various cities lie Mumbai, Ahemdabad, Delhi, Pune, Kolkata and Bengaluru. The institutional funding has become more systematic in the warehousing activity since the GST (Goods and Services taxes) have been rolled out. The sector has undoubtedly proceeded towards a more systematic route of operation thus attracting more formal source of capital.