DHL Renews Rs 1.8 Billion Lease For Panvel Warehouse
WAREHOUSING & LOGISTICS

DHL Renews Rs 1.8 Billion Lease For Panvel Warehouse

DHL Logistics Private Limited has renewed its lease for 317,000 square feet of warehousing space in Panvel, near Mumbai, with Ascendas Panvel FTWZ Private Limited — part of the CapitaLand Group — for five years, according to documents accessed by Propstack.
The monthly rent for the facility, located within the Ascent Free Trade and Warehousing Zone, is Rs 18 million, or approximately Rs 56.70 per sq ft per month, the documents revealed. The lease commenced on 1 August 2024 and includes a five per cent escalation from June 2025. DHL has also deposited Rs 141.1 million as a security deposit.
Situated close to the upcoming Navi Mumbai International Airport, Panvel is rapidly emerging as a major logistics hub, attracting global supply chain players due to its connectivity and infrastructure advantages.
DHL Group, which operates over 21 million sq ft of warehousing space across India and serves more than 50,000 locations, declined to comment on the transaction, as did CapitaLand Group.
Earlier this year, Mahindra Logistics Limited leased 297,000 sq ft of industrial space near Pune for Rs 7.14 million per month, also for a five-year term, according to property records.
According to Knight Frank India’s half-yearly India Warehousing Market Report, leasing volumes surged 42 per cent year-on-year to 32.1 million sq ft across the top eight cities in the first half of 2025. The manufacturing sector led this growth with a 71 per cent annual increase in space uptake, accounting for 45 per cent of total transactions.
The report also noted that Grade A warehousing continues to dominate, constituting 63 per cent of total leased space, up from 54 per cent a year earlier. Nationwide, industrial and warehousing stock exceeded 500 million sq ft, with Grade A assets representing 75 per cent of new supply. Meanwhile, vacancy rates fell from 13.1 per cent to 12.1 per cent, reflecting strong demand.
Among the leading markets, Mumbai topped transaction volumes at 7.5 million sq ft, a 63 per cent increase year-on-year, followed by Pune and Chennai, which grew 76 per cent and 135 per cent, respectively — driven largely by the manufacturing sector. 

DHL Logistics Private Limited has renewed its lease for 317,000 square feet of warehousing space in Panvel, near Mumbai, with Ascendas Panvel FTWZ Private Limited — part of the CapitaLand Group — for five years, according to documents accessed by Propstack.The monthly rent for the facility, located within the Ascent Free Trade and Warehousing Zone, is Rs 18 million, or approximately Rs 56.70 per sq ft per month, the documents revealed. The lease commenced on 1 August 2024 and includes a five per cent escalation from June 2025. DHL has also deposited Rs 141.1 million as a security deposit.Situated close to the upcoming Navi Mumbai International Airport, Panvel is rapidly emerging as a major logistics hub, attracting global supply chain players due to its connectivity and infrastructure advantages.DHL Group, which operates over 21 million sq ft of warehousing space across India and serves more than 50,000 locations, declined to comment on the transaction, as did CapitaLand Group.Earlier this year, Mahindra Logistics Limited leased 297,000 sq ft of industrial space near Pune for Rs 7.14 million per month, also for a five-year term, according to property records.According to Knight Frank India’s half-yearly India Warehousing Market Report, leasing volumes surged 42 per cent year-on-year to 32.1 million sq ft across the top eight cities in the first half of 2025. The manufacturing sector led this growth with a 71 per cent annual increase in space uptake, accounting for 45 per cent of total transactions.The report also noted that Grade A warehousing continues to dominate, constituting 63 per cent of total leased space, up from 54 per cent a year earlier. Nationwide, industrial and warehousing stock exceeded 500 million sq ft, with Grade A assets representing 75 per cent of new supply. Meanwhile, vacancy rates fell from 13.1 per cent to 12.1 per cent, reflecting strong demand.Among the leading markets, Mumbai topped transaction volumes at 7.5 million sq ft, a 63 per cent increase year-on-year, followed by Pune and Chennai, which grew 76 per cent and 135 per cent, respectively — driven largely by the manufacturing sector. 

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?