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IndoSpace: Over a Decade of Revolutionising Industrial & Logistics Real Estate in India

IndoSpace: Over a Decade of Revolutionising Industrial & Logistics Real Estate in India

Since its inception in 2007, IndoSpace has continued to transform India’s industrial and logistics real estate industry to meet the economy’s ever-rising demands around industrialisation and the supply chain ecosystem.

IndoSpace’s journey began in 2007 with the acquisition of 1.7 mn. sq. ft of land in Chakan, near Pune to develop India’s first-of-its-kind industrial and logistics park. Today, IndoSpace has over 36.2 mn. sq. ft of land bank located near major industrial corridors and consumption hubs — Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, Ahmedabad, Coimbatore, Anantapur, Rajpura, and others, making IndoSpace India’s largest investor, developer, and manager of Grade A industrial and logistics real estate.

With over 35 operational and under-development parks in the country, IndoSpace is the only industrial and logistics real estate developer with a pan-India presence.

This journey has been replete with memorable milestones during which we have actively contributed to the making of a billion-dollar warehousing industry:

Creating Grade A industrial & logistics real estate in India

India’s logistics sector is largely an unorganized and dominated by many small players. It was even more so a decade ago. The infrastructure was a challenge, tracking goods and shipments was largely a manual process, and inventory storage needs were met through traditional godowns. This was when ‘IndoSpace Logistics Parks’ was founded by the Everstone Group and Realterm, with 240 million USD investment in 2007. The objective was to create and operate the finest and largest network of industrial and logistics real estate assets in India, one that was capable of catering to emerging advanced logistics and warehousing needs.

Emerging as the largest industrial real estate developer

In 2010, IndoSpace started its first development of 500 acres of land bank in Chakan, a prime industrial corridor located near Pune, Maharashtra. In 2013, the company raised 343 million USD to set up IndoSpace Logistics Parks II with the aim to expand its portfolio to 5 mn. sq. ft By 2017, IndoSpace’s land bank exceeded 1,000 acres. In the same year, the Everstone Group, Realterm, and Canada Pension Plan Investment Board (CPPIB) partnered to raise 1.2 billion USD for the IndoSpace Core Fund. Today, with over 3 billion USD in investment, our portfolio of Grade A properties is the largest in the country, and we are consistently growing.

Partnering with a global leader – GLP

Our endeavour is to continue to implement the latest innovations and best-in-class solutions to make India a global warehousing hub. In 2018, IndoSpace partnered with GLP, one of the world’s largest developers and a global investment manager of logistics real estate. This has enabled us to leverage their global expertise and network and have access to the latest designs and technology to know which future trends to adopt to maximize efficiency for our clients.

Recognition from industry bodies

Over the last decade, many eminent industry bodies from across the world have recognized us for our rigorous implementation of international best practices. Among some of our most recent awards are ‘Firm of the Year – India’, at PERE Awards 2019 organized by PERE, the leading publication for the world’s private real estate market, and ‘Quality Excellence in Safety and Environmental Sustainability’ award at the 9th Manufacturing Supply Chain Summit in 2020. Furthermore, Euromoney, a reputed magazine, has ranked us the ‘Best Developer of Industrial/Warehouse Real Estate in India’ for five years in a row since 2015, and as well as one among the top three developers in India in 2019.

Developing green parks for businesses, and the planet

We are committed to sustainability and the protection of the environment, and always ensure that our infrastructure is designed with an aim to reduce our clients’ carbon footprint. We strictly adhere to the environmental and social governance norms as defined by the International Finance Corporation (IFC) Performance Standards.

IndoSpace is also the founding member of the Indian Green Building Council, and also the first in its category to have been awarded the prestigious Excellence in Design for Greater Efficiencies (EDGE) certification, a Green Building Certification System created for emerging markets by the IFC. We received an advanced level certification in the warehousing real estate category in India.

Nurturing communities and protecting the environment

In 2019, we launched our CSR program, named ‘Swachh Sundar Chakan’, at IndoSpace Chakan, near Pune. Our CSR programmes are aligned with the United Nations Development Program’s sustainable development goals. These community projects are focused on responsible waste management and growing the green belt around our parks. Along with behaviour change communication sessions, processing and recycling of waste, and outreach programmes, we also provide villages situated around our parks with Material Recovery Facilities (MRF) and composting pits to help them segregate their waste and produce biogas.

Implementing smart warehouse technology

Our next generation of warehousing technology encompasses automation, robotics, and smart parks. From a Contactless Gate Management System (CGMS) that tracks and reports vehicles, visitors, employees using mobility apps, to AI virtual tours that gives clients a 360° view of our parks, we are always bringing innovative and smart solutions to warehousing.

Value-added services

IndoSpace believes in a customer-centric growth. We have introduced multiple value-added solutions designed to engage, motivate, and care for people working at our parks. These solutions include ambulance services and Quick Response Teams (QRT) trained to handle any emergency and security concerns, professionally managed crèche services for our park employees’ children, and a logistics training academy with full-fledged training capabilities.

Business continuity and safety during the COVID-19 outbreak

The Covid-19 pandemic has posed a multitude of challenges to the warehousing industry. Owing to our alliance with GLP, we gained insights into international best practices in safety and took pre-emptive steps before the outbreak in India. We launched the IS GOLIVE app, an IndoSpace business continuity initiative, to update tenants about guidelines that ensure safe working conditions. We also introduced stringent SOPs to ensure infection-free sites for our tenants and employees and enable seamless operations at our industrial and logistics parks.

In the past decade, IndoSpace has contributed significantly to the transformation of Indian warehousing and logistics sector. As we continue to adopt as well as introduce the latest trends in global warehousing, we expect the next decade of our journey to be similarly paved with many more promising milestones.

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