CHENNAI: Greenbase Industrial and Logistics Pvt Ltd, a Hiranandani Group-backed company, on Thursday announced the acquisition of 215 acres or over 9 million sq ft of land for Rs 2,000 crore in Chennai to develop 5 million sq ft land pool.
Another 4 million sq ft is in the pipeline for acquisition, with an additional investment of Rs 1,500 crore. This will take Greenbase’s cumulative development target to over 9 million sq ft.
N. Sridhar, CEO of Greenbase, said the company is bullish on the long-term outlook for India’s industrial and logistics sector. He said the need for high-quality industrial and logistics infrastructure will grow as manufacturing contributes more to India’s GDP.
“Greenbase 2.0 is being built to participate in this structural shift and to provide companies with an end-to-end platform, from strategic location and optimised design to execution, operations and value-added services,” Sridhar said in a press release.
As part of its next phase of growth, the company unveiled Greenbase 2.0. It has acquired 160 acres in Palur, Oragadam, and 55 acres in Arani, north Chennai.
The expansion will focus on institution-grade industrial, warehousing and logistics infrastructure across India’s strategic manufacturing corridors. The company said the plans are supported by sustained demand for Grade A industrial and warehousing space.
Greenbase has an established operating track record at its existing parks in Oragadam, Chennai, and Talegaon, Pune. Phase one has already been built and delivered, covering about 5 million sq ft. Anchor occupiers include Vestas, Gurit, Hellermann Tyton, Sanmina, Baker Hughes, Magna and Hyundai Transys, the company said in a press release.
The new locations will target companies in renewable energy, automotive, electronics manufacturing services (EMS), infrastructure technology, heavy engineering and third-party logistics (3PL). These sectors are becoming increasingly important to India’s manufacturing value chain.
Sustainability and technology will be integrated at the park level. Planned features include rooftop solar, water retention and recharge systems, EV charging infrastructure, proposed IGBC Platinum certification, and AI and IoT applications across construction and operations.