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.

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..