Batilogistic buys 30 acres from Lodha in Mumbai for Rs 100 cr

Batilogistic, the realty arm of FM Logistic India, has purchased 30 acres of land at the Palava Industrial and Logistics Park in Mumbai from Lodha Developers at Rs 106 crore to develop a warehousing project with a 1 million sq ft potential. The park is located at Thane of the Mumbai Metropolitan Region (MMR). The deal is part of FM Logistic India's plan to invest Rs 1,140 crore in warehousing activities in India, announced in 2019. Batilogistic will undertake the development of this land parcel in phases over the next 3-4 years. This development is part of the 290 acre Palava Industrial and Logistics Park that also includes a joint venture between ESR and Lodha. Palava Industrial and Logistics Park is now emerging as a hub in the Mumbai region driven by its high-quality infrastructure, well-planned parks, and proximity to Navi Mumbai, JNPT port and upcoming international airport. FM Logistic in India is a third party logistics company. It has a presence in over 90 locations and manages over 6 million sq ft of warehousing space. The company, which is part of French firm FM Logistic, provides warehousing and distribution logistics services for the FMCG, retail, automotive, e-commerce, engineering, telecom, pharma, and other sectors. Batilogistic is a real estate player in the service of logistics. It has expertise in the construction and maintenance of Grade A warehouses. Image Source Also read: 11 industrial parks to come up in Mumbai and Pune