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USD 55 M secured by NDR Warehousing from Investcorp, others

NDR Warehousing, a warehousing firm, has secured USD 55 million from a group of investors led by Investcorp to help fund its development goals and expand into new markets. Investcorp, a worldwide investment firm, said today that it has led a US D55 million investment in NDR Warehousing. Over the next three years, NDR wants to quadruple its portfolio from 11.6 million sqft to 20 million sqft, which it now has in 18 sites around the country. In addition, the firm intends to expand into additional cities like Pune and Goa. The firm now has warehouses in Chennai, Mumbai, the National Capital Region, Bangalore, Coimbatore, and Kolkata.

“We intend to continue our aggressive growth plans nationally, underpinned by our strong execution capabilities and long-standing tenant relationships,” NDR Managing Director N Amrutesh Reddy said in the statement.

Speaking about the investments, Ritesh Vohra, Partner and Head of Real Estate at Investcorp India, “Given the strong fundamentals and attractive secular tailwinds, Investcorp has been actively investing in the warehousing sector globally for many years now. This structured equity investment in India, backed by a robust operational portfolio, will provide our investors with an opportunity to invest in one of the attractive real estate growth opportunities, with what we believe are attractive risk-return metrics.”

The real estate division of Investcorp India invests in projects in top-tier cities across the country. So far, the company has invested USD 200 million in 26 projects through two funds.

 

 

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