Part of fund for acquisition of 2 million sq ft operational assets
A Singapore-based Private Equity fund has committed US$200 million to NCR’s Industrial and Logistics real estate developer Pragati Group, part of which is to acquire two international grade operational assets of approx. 2 million sq ft.
The fund provides successful exit to the previous financial partner Morgan Stanley.
Pragati has been offering customized warehouse development solutions since its inception in 2010 to top MNCs like Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin, and many more.
Col. Jitender Yadav, Founder of Pragati Group, said, “Pragati’s vision is to be one of the top 5 industrial & logistics real estate developers in the country by developing a portfolio spanning 30 million sq ft across key Tier I and Tier II cities with best in class Grade A specifications and with sustainability and ESG at the heart of our business.
“Pragati has an excellent track record of working with world class companies like Amazon, Flipkart, DHL, Daikin, Bosch etc. and this capital will enable us to expand to other major cities in India.”
Pragati Group has developed 12 million sq ft of logistics parks over the last 10 years and emerged as one of the fastest and reliable logistics developers. fiinews.com
