Hiranandani-backed Greenbase to invest ₹3,500 cr in logistics space

Greenbase plans to develop 9 million sq ft of industrial, warehousing and logistics infrastructure over five years, with 5 million sq ft planned in Tamil Nadu

Greenbase Industrial and Logistics, the Hiranandani Group-backed industrial and logistics platform, will invest ₹3,500 crore to develop 9 million square feet (msf) of industrial, warehousing and logistics infrastructure as part of its Greenbase 2.0 expansion over five years.

In a statement issued on Thursday, the company said it will develop 5 msf of industrial and logistics space in Tamil Nadu with an investment of ₹2,000 crore, where the land has been acquired and construction has begun. It will additionally invest about ₹1,500 crore for a 4 msf pipeline across South and West India, where land acquisition is to be completed.

The company has acquired 215 acres of land across Chennai — 160 acres in Palur, Oragadam, and 55 acres in Arani, North Chennai. The expansion focuses on institutional-grade industrial, warehousing and logistics infrastructure across India's strategic manufacturing corridors, supported by sustained demand for Grade A industrial and warehousing space, Greenbase said.

Niranjan Hiranandani, chairman, Hiranandani Group, said, "Global manufacturers are looking for dependable ecosystems, faster execution, sustainability and infrastructure that can support scale over the long term. Greenbase 2.0 is our commitment to creating future-ready industrial destinations, backed by the development discipline and institutional credibility of the Hiranandani Group."

Greenbase’s current portfolio includes industrial and logistics parks in Oragadam, Chennai, and Talegaon, Pune. Phase one has already been built and delivered, totalling approximately 5 msf. Overall, it has 17.85 msf of planned and developed area.

N. Sridhar, chief executive officer, Greenbase, said, “We are bullish on the long-term outlook for India’s industrial and logistics sector. The Made in India momentum is not only creating demand from large manufacturers; it is also creating a much broader ecosystem of ancillary businesses in infrastructure technology, renewable energy, auto components, industrial technology, electronics and other new-age industries. As manufacturing becomes a larger contributor to India’s GDP, the need for high-quality industrial and logistics infrastructure will grow with it.”