The Hiranandani Group has announced the establishment of a new vertical ‘GreenBase’, which will provide best-in-class Logistics and industrial parks, with a pan-India footprint. India’s burgeoning logistics sector is estimated to require 839 million sq ft of light industrial and logistics space by 2022. Given this, the industrial, logistics and warehousing sector is a natural transition for the Hiranandani Group, given its history in real estate, infrastructure and mixed-used integrated township development, a company release said.
Commenting on the new venture, Niranjan Hiranandani, co-founder and MD, Hiranandani Group, said: “The ‘Make in India’ campaign and the introduction of a unified tax structure in the form of GST, which has replaced a plethora of state and federal levies and helped to unify multiple states into a single market, have brought about a structural shift to the small and fragmented warehouse networks, into a consolidated space, along with large distribution chains and centralised hubs. The government has also granted infrastructure status to the logistics industry, allowing developers to access low-cost funds for development. All these favorable reasons, give a big impetus to diversify and foray into the industrial and logistics sector.”
The new vertical shall promote healthy living for those who work there, based on the ‘walk to work’ philosophy. Like the existing integrated townships model, community development in the industrial and logistics townships will include social amenities like primary healthcare and industrial housing. The operating model of GreenBase shall include built-to-suit industrial facilities, cold storage and built-to-suit warehouses for end customers, as well for large 3PL players. For the businesses that opt for plug and play and need warehousing solutions, GreenBase will offer larger space off-take, apart from assisting the customers on an end-to-end solution, which will include land acquisition, master planning, built-to-suit and project management consultancy.
Apart from the 500-plus acres of our own land bank, reserved for this business across various locations, we are acquiring new land parcels, either directly or through partnership/JV models, in strategic locations, said N Shridhar, group director and CEO – infrastructure (industrial and logistics). “Pune (Talegaon), Nashik, Mumbai (Panvel), Chennai (Oragadam) and Kolkata (Durgapur) is where it will all begin and other locations will follow,” he concluded.