Logicap has acquired a warehousing portfolio from Xander Investment Management for approximately ₹2,000 crore, solidifying its position as India’s third-largest warehouse operator amid increasing institutional investment in industrial property.
Logicap has bought a warehousing portfolio from Xander Investment Management for about ₹2,000 crore, a deal that lifts the logistics real estate platform to 25 million square feet and, according to industry tracking, makes it India’s third-largest warehouse operator. The transaction underlines how institutional investors are continuing to pour money into Indian industrial property as demand for modern distribution space rises with e-commerce, manufacturing and third-party logistics.
The portfolio spans fully leased Grade A assets in Chennai, Mumbai and Kolkata, according to The Economic Times, with tenants including DHL Supply Chain, DB Schenker and Flipkart. That gives Logicap immediate scale in some of the country’s most important consumption and production corridors, while also avoiding the delays and execution risk that come with developing warehouses entirely from scratch.
The deal also includes a planned expansion in Bhiwandi, near Mumbai, where Logicap is already developing industrial and logistics space in phases. The location is strategically important because it sits on a major freight and warehousing route serving the Mumbai region. According to earlier reporting by The Economic Times, Alta Capital-backed Logicap has been building out its platform through a mix of acquisitions and development, including a prior purchase from IndoSpace and a broader partnership with Mitsubishi Estate to add more industrial capacity in India.
The latest move fits a wider pattern of consolidation in the sector. Blackstone’s acquisition of LOGOS India’s warehousing assets late last year helped make it the country’s largest logistics asset owner, with around 55 million square feet, while IndoSpace remains another major player with a portfolio of roughly 58 million square feet. In that context, Logicap’s rapid rise points to the speed with which large capital-backed platforms are reshaping India’s warehouse market.
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