ESR obtains 8 acres of land area from TARC Ltd in Delhi
Real Estate

ESR obtains 8 acres of land area from TARC Ltd in Delhi

Logistics real estate platform ESR has acquired around 8 acres of land from real estate firm TARC Limited to expand its operations in Delhi.

Its in-city warehouse has a development potential of around 4 lakh sq ft, located in Alipur, Delhi National Capital Region (NCR).

TARC Ltd focuses on the upper mid-income and luxury housings and will cash out non-core business. It is the second warehousing sale by the TARC.

Last year, the company sold a warehousing asset in North Delhi to BREP Asia II EIP Holding Private Limited for Rs 295 crore.

TARC continues to off-load its non-core assets, including warehousing and retail assets. The company is in talks with global funds to off-load more retail and warehousing assets.

According to a source, the company's residential market is doing significantly well, and sales have reached the 2014 level. The company wants to increase the pace of residential projects and reduce debt.

The warehousing sector in India has attracted large institutional investments, allocating new capital to the warehousing sector as demand remains strong from e-commerce and logistics firms and easing of Goods and Services Tax (GST) policies.

Sources said that these sites are suited for mid-mile logistics requirements for large e-commerce sites. ESR plans to expand its high demand in-city distribution centres. The company plans to buy both greenfield and brownfield properties over 15 acres of land.

It will set up land acquisitions to expand its portfolio and develop in-city distribution centres, with high demand from e-commerce and retail firms.

Last year, ESR had closed two land acquisitions in Gujarat and Chennai. Currently, it is present in nine cities with 16 operational sites across India, having a total gross floor area (GFA) of about 18 million sq ft.

Image Source

Also read: GIC, ESR Cayman enter $ 750 mn JV

Logistics real estate platform ESR has acquired around 8 acres of land from real estate firm TARC Limited to expand its operations in Delhi. Its in-city warehouse has a development potential of around 4 lakh sq ft, located in Alipur, Delhi National Capital Region (NCR). TARC Ltd focuses on the upper mid-income and luxury housings and will cash out non-core business. It is the second warehousing sale by the TARC. Last year, the company sold a warehousing asset in North Delhi to BREP Asia II EIP Holding Private Limited for Rs 295 crore. TARC continues to off-load its non-core assets, including warehousing and retail assets. The company is in talks with global funds to off-load more retail and warehousing assets. According to a source, the company's residential market is doing significantly well, and sales have reached the 2014 level. The company wants to increase the pace of residential projects and reduce debt. The warehousing sector in India has attracted large institutional investments, allocating new capital to the warehousing sector as demand remains strong from e-commerce and logistics firms and easing of Goods and Services Tax (GST) policies. Sources said that these sites are suited for mid-mile logistics requirements for large e-commerce sites. ESR plans to expand its high demand in-city distribution centres. The company plans to buy both greenfield and brownfield properties over 15 acres of land. It will set up land acquisitions to expand its portfolio and develop in-city distribution centres, with high demand from e-commerce and retail firms. Last year, ESR had closed two land acquisitions in Gujarat and Chennai. Currently, it is present in nine cities with 16 operational sites across India, having a total gross floor area (GFA) of about 18 million sq ft. Image Source Also read: GIC, ESR Cayman enter $ 750 mn JV

Next Story
Infrastructure Urban

Paras Defence Subsidiary Wins Rs 460 Mn Anti-Drone Order

Paras Defence and Space Technologies (PDST) saw its shares rise 1.5 per cent to Rs 701 after its subsidiary, Paras Anti-Drone Technologies, secured a defence contract from the Ministry of Defence, Government of India, valued at approximately Rs 460.19 million.The order covers the supply of Anti-Drone Systems, including Drone Jammers, marking a significant milestone for Paras Anti-Drone in India’s growing counter-UAV segment. The contract is scheduled for execution by March 2026. According to official filings, the award is from a domestic entity, not a related party transaction, and no promot..

Next Story
Building Material

Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabr..

Next Story
Infrastructure Energy

Hero Future Energies Secures Rs 19.08 Bn for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19,080 million in funding from State Bank of India (lead) and Canara Bank for the development of its 120 MW renewable energy (RE) hybrid project in Kurnool, Andhra Pradesh.The project, contracted with SJVN, integrates wind, solar, and storage technologies to provide reliable peak power. The funding, structured with a 21-year repayment tenure, will support timely project execution and the commencement of commercial operations.This financial closure underscores the banking community’s confidence in ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?