Welspun One commits to invest ₹2,150 cr in South India, to acquire 107 acres of land in Bengaluru
Warehousing and industrial real estate developer and fund manager Welspun One Logistics Parks (WOLP) has announced the acquisition of over 107 acres of land around Bengaluru on Wednesday. This includes over 51 acres of land parcel in Hoskote, in eastern part of the Bengaluru district, and 56 acres of land in Devanahalli, near the Kempegowda International Airport. The company has committed to an investment of ₹2,150 crore as part of these acquisition in South India.
With these acquisitions Welspun has further strengthened its presence in South India reflecting its confidence in the long-term fundamentals of the region.
Speaking to Fortune India, Anshul Singhal, MD of Welspun One, said Bengaluru stands out as a warehousing hub because demand is spread across the city rather than concentrated in a single pocket.
“At Welspun One, our strategy is deliberately multi-nodal. With developments in both Hoskote and Devanahalli, we are serving the twin engines of consumption-led occupiers and high-value industries like electronics and EVs. Together, these hubs add to our growing footprint of 19 million sq. ft. under management,” Singhal added.
A Welspun One spokesperson told Fortune India that with these acquisitions, the total assets under management of the Welspun subsidiary are valued at around ₹10,000 crore, with a total 19 million square feet of net usable area under the company.
As a mark of the company’s strategy in expanding across South, these acquisitions take its regional land bank to more than 260 acres across Karnataka and Tamil Nadu.
The rationale behind investing in these less-developed areas, is the potential these behold enabling the company to get an early entry into high-potential logistics corridors. This is evident in the acquisition in Devanahalli, which is just near the Bengaluru airport, which is under development of the airport city for the district, similarly Hoskote, while known for natural beauty, is just 30 km away from Bengaluru, paving way for building this both as an extension to the main city and as a tourist spot. Previously, the company had invested in and built North Chennai and Bengaluru’s Bagalur.
“The Bengaluru market in particular holds immense promise, and these investments demonstrate our conviction and capability,” said Balkrishan Goenka, chairman, Welspun Group, in a statement.
The company will turn these land parcels into warehousing hubs to cater to diverse industry players including ecommerce players such as Blinkit, Amazon, Flipkart among others.
Welspun One has acquired two large land parcels in Bengaluru to strengthen its warehousing portfolio under the Proxima and Proxima Plus categories.
The land parcel purchased in Hoskote cluster, the company revealed, is a Grade-A warehousing park designed for third-party logistics (3PL), FMCG, and retail clients. The company claims the area is well-connected through state and national highways, and with access to Whitefield, KR Puram, Sarjapur, and Varthur. Additionally, as mentioned earlier, the micro-market, home to occupiers such as Amazon, Flipkart, and DHL, currently has over 7 million sq. ft. of Grade-A stock. The company revealed that the upcoming infrastructure, including the Satellite Town Ring Road (STRR) and the Bengaluru-Chennai Expressway, is set to further boost the region’s appeal.
The Devanahalli acquisition is set to house Welspun One’s first Proxima Plus park, positioned as a premium warehousing development. Aside from Airport City, the proposed Multi-Modal Logistics Park is also closely located to the development. Unlike Hoskote, this parcel is developed to cater to high-value sectors such as electronics, aerospace, EV, and pharmaceuticals, offering advanced, tech-enabled, plug-and-play facilities, much like the Electronic City.
“With Proxima and Proxima Plus, we’re offering our clients differentiated options, scalable, future-ready, and aligned with the evolving needs of industry and commerce,” Singhal added.