Industrial and warehousing real estate developer KSH Infra, a subsidiary of Pune-based KSH Group, said Wednesday it has entered the south India market with an investment in a warehousing project in Tamil Nadu.
The company, which has developed four industrial and logistics parks so far, is set to invest about Rs 450 crore ($53.6 million) in an asset in Hosur, Tamil Nadu, located close to the Bangalore market.
“Southern India, particularly Tamil Nadu, is a key industrial powerhouse of the nation, having made significant strides in economic development. As the second wealthiest state by GDP and the most industrialized in India, it represents a prime opportunity for growth,” said Sundaresan Vaidyanathan, the chief executive of KSH Infra.
He added that the firm’s growth strategy is focused on markets with fundamentally strong industrial demand. To meet this growth target, KSH Infra is also expanding its team size in the southern India region.
KSH Infra, which counts Everstone-backed IndoSpace as an investor in a joint venture, has delivered about four million square feet of industrial and logistical assets, and aims to develop 10 million square feet over the next five years.
“Our strong financial position enables us to pursue new opportunities in Chennai, Bangalore, and Mumbai while leveraging our established presence in Pune,” said managing director Rohit Hegde.
The latest asset will cover approximately 50 acres of land offer development potential of about 1.25 million square feet. The asset is situated on the Hosur-Rayakottai Road, near the new Tata Electronics facility, and is expected to generate employment for over 1,800 people.
The construction timeline or other financial details of the project have not been made public yet.
This will add to the Pune-based developer’s existing portfolio, which includes a logistics park in Talegaon, and four in Chakan, located near Pune in Maharashtra.