TVS Industrial and Logistics Parks Vice Chairman S. Ravikumar says they plan to be present at every 400 kms across India.
TVS Industrial and Logistics Parks (TVS ILP), part of the TVS Mobility Group, plans to develop six logistics parks across India by FY26 with funds raised through private placement basis, said a top executive.
“On an average, it costs ₹225-250 crore to develop one million sq. ft of space. Developing nine million sq. ft would cost more than ₹2,000 crore and we are going to raise the funds through invITs (Infrastructure Investment Trusts),” Vice Chairman S. Ravikumar told The Hindu.
Mr. Ravikumar said they had received SEBI’s approval to create invITs and were in the process of filing DRHP within 60 days to raise funds through private placement basis.
The firm would focus on Gujarat, Goa, Madhya Pradesh, Uttar Pradesh, Bihar and West Bengal (phase II) for the new logistics parks.
“We already possess the land. These parks will range from six lakh sq. ft to one million sq. ft in space. Due diligence has been initiated in some cases and construction is ongoing in the remaining parks,” Mr. Ravikumar said.
Till date, TVS ILP has developed 38 logistics parks measuring 11 million sq. ft in 17 centres in Tamil Nadu, Andhra Pradesh, West Bengal, Odisha and North East.
“The logistics sector is predominantly unorganised. We are India’s only corporate developers in the logistics and warehousing space. Unlike others, we offer warehousing, infrastructure solutions, facilities management services and project management services facilities under one roof,” he said.
The company plans to net a rental income of ₹235 crore for the current fiscal against ₹180 crore in FY24 with a CAGR of 30-35%.
Published – September 26, 2024 10:52 pm IST
