Indospace Logistics Fund has reportedly plans to invest around 500 crore in the development of an integrated logistics park in the National Capital Region.
People familiar with the matter informed that the Fund, which is a part of the Everstone Capital that invests in logistics and industrial real estate, is pursuing discussions with the Delhi-based logistics developer FWS to develop the park which will have large warehouses to be used by retail and consumer goods companies.
Large warehouses, which will replace the existing practice of smaller stockyards in multiple states, will be in great demand once the government’s proposed Goods and Services Tax (GST) is fully implemented. This is done to circumvent duplication of taxes but will not be required once the GST regime takes effect.
The Government aims to introduce GST by April 2011. The implementation of GST will prompt companies to sign supply and distribution management contracts with logistics companies.
An internal source said on the condition of anonymity, “Indospace has been following a model of buying land and developing industrial real estate projects. This current deal would be part of that focus.”
If the reports are genuine, this will be one of Everstone Capital’s biggest investments since it was spun off from Kishore Biyani’s Future Capital earlier this year. Everstone Capital came into existence following Sameer Sain’s parting with Kishore Biyani in January 2010. Indospace is a $250-million fund that also owns a joint venture US-based industrial real estate investment firm- Realterm Global.
Indospace Logistics Fund has also been developing projects in Pune and Chennai where it is building warehouses, distribution and storage facilities to be used by automotive firms like Daimler, Bosch, Volkswagen, Tata Motors and Mahindra. FWS, which has already leased around 1.5 million square feet of logistics space across the National Capital Region, has attracted a number of clients, including P&G, DHL and the Future Group, for its warehouses.
Both, Everstone and FWS turned down requests for comment on the reports.
People familiar with the matter informed that the Fund, which is a part of the Everstone Capital that invests in logistics and industrial real estate, is pursuing discussions with the Delhi-based logistics developer FWS to develop the park which will have large warehouses to be used by retail and consumer goods companies.
Large warehouses, which will replace the existing practice of smaller stockyards in multiple states, will be in great demand once the government’s proposed Goods and Services Tax (GST) is fully implemented. This is done to circumvent duplication of taxes but will not be required once the GST regime takes effect.
The Government aims to introduce GST by April 2011. The implementation of GST will prompt companies to sign supply and distribution management contracts with logistics companies.
An internal source said on the condition of anonymity, “Indospace has been following a model of buying land and developing industrial real estate projects. This current deal would be part of that focus.”
If the reports are genuine, this will be one of Everstone Capital’s biggest investments since it was spun off from Kishore Biyani’s Future Capital earlier this year. Everstone Capital came into existence following Sameer Sain’s parting with Kishore Biyani in January 2010. Indospace is a $250-million fund that also owns a joint venture US-based industrial real estate investment firm- Realterm Global.
Indospace Logistics Fund has also been developing projects in Pune and Chennai where it is building warehouses, distribution and storage facilities to be used by automotive firms like Daimler, Bosch, Volkswagen, Tata Motors and Mahindra. FWS, which has already leased around 1.5 million square feet of logistics space across the National Capital Region, has attracted a number of clients, including P&G, DHL and the Future Group, for its warehouses.
Both, Everstone and FWS turned down requests for comment on the reports.
No comments:
Post a Comment