ESR Group invests Rs 360 Bn in Odisha Logistics Park

15 Sep 2023 CW Team

On September 13, ESR Group announced its acquisition of 57 acres of land in Cuttack, Odisha, with plans to develop a logistics park at an investment of approximately Rs 360 crore. ESR, a prominent asset manager in the Asia Pacific region, disclosed that this development holds a total potential of 1.2 million square feet.

ESR Cuttack Logistics Park aims to play a pivotal role in supporting the expansion of e-commerce, retail, and third-party logistics (3PL) customers. Abhijit Malkani, CEO of ESR India, noted the growing online and retail consumer base in Odisha as a motivation for the expansion. The facility will integrate green building features to provide a top-notch logistical solution.

The logistics park's initial acquisition included one operational building, which is now fully leased to one of India's largest e-commerce companies. ESR is currently working on the construction of a second building, with plans to accommodate a total of six buildings at the site.

ESR Cuttack Logistics Park holds strategic significance in the eastern part of India, where large, scalable development sites are relatively rare. This marks ESR's entry into the Odisha market.

The demand for logistics facilities in Odisha has surged due to robust economic growth, with the Gross State Domestic Product (GSDP) averaging an annual growth rate of 7.9% over the last decade (excluding the COVID-19-affected year 2020-21). Factors such as increased income, purchasing power, and digital penetration have further fueled this growth.

The warehousing demand is primarily driven by various sectors, including 3PLs, e-commerce, retail, consumer goods, durables, paints, chemicals, automobiles, and ancillaries.

As of June 30, 2023, ESR has a development work-in-progress worth USD 13 billion. ESR India, a subsidiary of ESR Group, specializes in industrial and logistics real estate development and management, with assets under management (AUM) totalling around USD 1.6 billion.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..