Pragati Group receives $200mn from Singapore based fund

Pragati Group, an NCR-based Industrial and Logistics real estate developer, has raised $200 million in equity capital from a Singapore-based Private Equity fund. Pragati has been providing customised warehouse development solutions to top MNCs such as Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin, and many more since its inception in 2010. According to the terms of the agreement, the Singapore-based fund will invest $200 million with Pragati Group in the development of industrial and logistics real estate assets in the third fiscal quarter of 2022. Part of the transaction included the acquisition of two international grade operational assets in NCR totaling approximately 2 million square feet of GLA, Pragati One and Pragati Farukhnagar Logistics Parks, providing a successful exit to the previous financial partner Morgan Stanley. This fund also acquired an equity stake in Pragati as part of the deal. According to Col. Jitender Yadav, Founder of Pragati Group, Pragati's vision is to be one of the top five industrial and logistics real estate developers in the country, with a portfolio spanning 30 million square feet across key Tier I and Tier II Indian cities, built to best-in-class Grade A specifications and with sustainability and ESG at the forefront of our operations. Pragati has a proven track record of partnering with world-class companies such as Amazon, Flipkart, DHL, Daikin, and Bosch, among others, and this capital will allow us to expand to other major cities in India. About Pragati Group Pragati Group, headquartered in Delhi NCR and with regional offices across the country, has developed 12 million square feet of logistics parks in the last decade, making it one of the fastest and most dependable logistics developers. See also: Largest AIF in warehousing worth Rs 20 bn to be raised by Welspun One Allcargo buys partner's 39% stake in contract logistics arm