Welspun One has acquired a 22-acre land parcel near Gurugram, investing ₹125 crore in a major expansion of its logistics and warehousing infrastructure. This significant move is expected to create approximately 1,500 jobs in the region.
As reported by the Money Control, the land, located along Bilaspur-Tauru Road close to NH-8, is a strategic addition to Welspun One’s portfolio. The acquisition, facilitated by global real estate services firm JLL, marks a key milestone in the company’s strategy to broaden its logistics park footprint in India.
Anshul Singhal, Managing Director of Welspun One, stated, “This acquisition represents a major step in expanding our footprint in one of India’s vital logistics corridors. By leveraging this prime location, we aim to create a cutting-edge logistics hub that will enhance operational efficiencies for our tenants and contribute to broader economic growth.”
The NH-8 corridor is renowned for its logistics infrastructure. According to JLL, it boasts a total supply of 64 million square feet (msf) for Grade A and Grade B spaces as of the first half of 2024. This makes it the largest logistics sub-market in India, followed by Bhiwandi in Mumbai. The area saw a gross absorption of 3.7 million square feet in the first half of 2024, nearly doubling the absorption compared to the same period in 2023, highlighting robust warehousing demand.
Yogesh Shevade, Head of Logistics and Industrials for India at JLL, noted the transaction’s uniqueness, citing its structure as a long lease of aggregated land from multiple private landlords, a developing trend in the country.
The new development will complement existing major logistics parks in the area. Welspun One’s project is expected to integrate seamlessly with the surrounding infrastructure, which includes tenants such as third-party logistics providers, e-commerce giants, and retail players.
This acquisition underscores Welspun One’s commitment to expanding its logistics capabilities and responding to the growing demand for warehousing space in India.