Embassy Industrial Parks (EIP) Buys 60 Acre Site from DRA Bangalore

Embassy Industrial Parks has made an entry in South Indian market by buying a land parcel of 60 acres from DRA Projects, a real estate developer in Bangalore. The land will be used by the company to build warehousing facility of 1.3 million sq. ft. by investing Rs. 288 Cr. in total in Bengaluru outskirts.

Embassy Industrial Parks is a logistic giant which is worth $250 million floated by the international private equity company Warburg Pincus in association with real estate builder Embassy Group to establish industrial parks. The next industrial park by the Embassy Group will be located strategically near the State Industries Promotion Corporation in Tamil Nadu (SIPCOT) and the Bangalore-Chennai Highway.

Anshul Singhal, CEO, EIP added, “We have already set our benchmarks in North India and we have clear goals to scale up our business quickly and handpick the best addresses to facilitate our process.” The company has already signed the deal with Stellar Value Chains for acquiring 500,000 sq. ft.

for this project. Currently, Embassy Industrial Parks has three operational industrial parks and logistics in Pune and Delhi/NCR. The company is engaged in acquiring land in major cities like Mumbai and Hyderabad along with expansion in its current locations.

Singhal said, “The company has secured its potential for development of around 13 million sq. ft. till date, and 2 million of it is currently being operated.”

The company is also planning to acquire more than 300 acres of land parcels in the cities of Hyderabad and Mumbai along with launching more industrial parks in current cities. Singhal said, “From this joint venture, we have committed huge capital for investment and we are also going to close some transactions.”

The industrial real estate market has been constantly grabbing interest from the leading international players in private equity as a site has been acquired in Bangalore through a joint venture between one of the leading developers in South Asia and Warburg Pincus.