Leasing of warehousing space at record 51.32 mn sqft in FY23

16 Jun 2023 CW Team

A record 51.32 million square feet of warehouse space were leased last fiscal year across eight locations, driven largely by the retail and third-party logistics industries.

Industrial space for light manufacturing/assembling is included in the data for warehousing demand.

The India Warehousing Market Report, which Knight Frank India released on Tuesday, revealed that rentals increased by 3–8% in seven out of eight cities.

According to the data, the total area leased for warehousing increased to 5,13,24,207 square feet in the most recent fiscal year from 5,12,94,933 square feet in the fiscal years 2021–22.

Leasing activity increased in Mumbai, Bengaluru, and Kolkata but decreased in NCR, Pune, Hyderabad, Chennai, and Ahmedabad across all cities.

In the most recent fiscal year, leasing of warehouse space increased 10% to 9.5 million square feet. Last fiscal year, demand increased in Bengaluru by 25% to 7.4 million square feet and in Kolkata by 18% to 5.1 million square feet.

In Delhi-NCR, the leasing of storage space decreased by 5% to 8.6 million square feet. Pune experienced a 2% reduction to 7.4 million square feet, and Hyderabad saw a 7% decline to 5.1 million square feet.

Resources

13 May 2026

Anant Raj Appoints Anish Sarin as Director

Anant Raj has appointed Anish Sarin as Director on its Board, marking a key step in the company’s leadership transition and long-term growth strategy. The announcement was made during the company’s Q4 and FY26 results declaration, reflecting the induction of next-generation leadership as the company expands across real estate, cloud infrastructure and data centre businesses. Anish Sarin, grandson of veteran industrialist Ashok Sarin, represents the emerging leadership at Anant Raj. Educated at Regent’s University London, he brings a global business outlook along with a strong focus on t..

Vedanta eyes AI-led value growth

Vedanta Group expects to unlock USD 300–400 million in additional value over the next three years through large-scale deployment of AI-led industrial technologies across its businesses. The group said its V-Spark DeepTech Ventures platform has already delivered nearly four times return on investment since inception.Vedanta is scaling AI, predictive analytics, Industrial Internet of Things, digital twins, machine learning, automation and connected manufacturing technologies across its metals, mining, energy and industrial operations. These deployments are aimed at improving productivity, lowe..

Hindustan Zinc inks pact with Group Nirmal

Hindustan Zinc has signed an MoU with Group Nirmal to set up a zinc wire manufacturing facility at its Zinc Industrial Park in Khankhala, Bhilwara district, Rajasthan. The partnership will expand downstream manufacturing activity and support value-added zinc applications in India.Under the agreement, Group Nirmal will manufacture zinc wire products using Hindustan Zinc’s Special High Grade zinc. The products will cater to infrastructure, renewable energy, automotive and industrial engineering sectors.Zinc wire is used in thermal spray coating and metallising processes to protect steel struct..