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NDR Infrastructure to monetise 3,000 acre land to ramp up portfolio

Thursday, 12 Sep 2019

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NDR Infrastructure is planning to monetise over 3,000 acre of land parcels across major cities to ramp up its portfolio.

The company plans to set up 20 million sq ft of warehousing space across the country, with a total investment of around Rs 5,000 crore over a period of five years.

The company already has land parcels and it intends to raise a mix of private equity and ECB money to finance the development. This can be as much as 90 percent of the total development cost either as platform deal or at project level.

Anarock Properties consultant is advising NDR Infrastructure on fund raising.

The company has identified around 11 locations to be developed over the next five years. Each of the land parcel is over 100 acre.

The first two facilities in the pipeline are at Ennore, Tamil Nadu which is four km away from Ennore Port and Kelavali, Mumbai, which is between Karjat and Khopoli, having leasable areas of two million sq ft each.

The company envisages to develop Free Trade Warehousing Zones (FTWZ) in both the places which are regulated under the SEZ Act. For Ennore, the company has an in-principle FTWZ license while for Mumbai, FTWZ approval is underway.