Pragati Group, an NCR-based logistics and industrial real estate developer, has raised $200 million of equity capital from a Singapore-based private equity fund.
Pragati has been offering customized warehouse development solutions since its inception in 2010 to major multinational companies like Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin and many more.
The Singapore-based fund has committed to invest $200 million with Pragati Group for the development of industrial and logistics real estate assets under the deal signed in the third quarter of fiscal 2022. Part of the deal involved the acquisition of 2 international-grade operating assets of approx. 2 million square feet of GLA at NCR, Pragati One and Pragati Farukhnagar Logistics Parks, providing a successful exit to former financial partner Morgan Stanley. Part of the deal also saw this fund acquire an equity stake in Pragati.
Colonel Jitender Yadav, founder of Pragati Group, said: “Pragati’s vision is to be one of the top 5 industrial and logistics real estate developers in the country by developing a portfolio spanning 30 million square feet in key tier Indian cities. I and Tier II, with best-in-class Grade A specifications and with sustainability and ESG at the heart of our business, Pragati has an excellent track record of working with world-class companies such as Amazon, Flipkart, DHL, Daikin, Bosch , etc. and this capital will enable us to expand to other major cities in India.”
About Pragati Group
Headquartered in Delhi NCR, with regional offices in other parts of the country, Pragati Group has developed 12 million square feet of logistics parks in the last 10 years and has become one of the fastest and most reliable logistics developers.
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