IndoSpace, a developer of industrial and logistics parks, plans to add three projects in the National Capital Region (NCR), as well as two each in Mumbai and Bengaluru, as the company continues to be bullish on the warehousing sector, according to a top executive. The NCR will be a major investment focus. IndoSpace is the real estate arm of the Everstone Group, a private equity firm focused on India and Southeast Asia. The warehousing industry has exploded in the Pataudi Road, Tauru Road, Farukh Nagar, and Jhajjar areas of Haryana's Bilaspur Chowk belt. It is also well connected to the Kundli–Manesar–Palwal Expressway and NH-8 and serves as a distribution point for the important NCR market as well as nearby Haryana, Uttar Pradesh, and Rajasthan towns. The company is also looking for a location in Noida for an electronic cluster, but it has no plans to expand its industrial park portfolio in the NCR. According to Jaggi, there was a surge in warehousing demand after the first Covid-19 wave, and a bounce-back has also been observed since the second Covid-19 wave. According to a Knight Frank India report, warehousing transactions in the NCR totalled 6.9 million sq ft in FY21, down from 8.6 million sq ft in FY20. Currently, the company is working on 45 to 50 projects across India. Apart from warehousing, the company focuses on industrial parks, with Chakan in Pune and Chennai being the two main areas of focus. IndoSpace recently announced a Rs 1,000 crore joint venture with KSH Infra to build logistics parks across India. Over the next five years, the company will invest Rs 1,000 crore in this new alliance to develop these assets, which span 10 million sq ft. The joint venture will focus on tier I premium micro markets like Pune, Mumbai, the NCR and Bengaluru. KSH Infra will be in charge of identifying and developing the assets, as well as investing alongside IndoSpace in them. Indospace has a portfolio of over 48 million sq ft across 42 industrial and logistics parks in various stages of development in India's nine major consumption hubs, having invested $500 million in nine acquisitions by 2020. Two projects in the north are currently completed and operational. 2.5 million sq ft were added to the NCR region in the third quarter. Image Source Also read: IndoSpace announced the launch of two parks in Tamil Nadu