Delhi Based LAS Ventures in Discussions to Raise INR 300 Crore Fund to Create Grade A Warehouses Throughout India

LAS Ventures plans to raise around INR 300 Croreo to create a A-grade warehouses; the first facility will be completed by November 2022.

A top official said that LAS Ventures is in discussions to raise a Rs 300 crore investment to create grade A warehouses around the nation to meet demand from the e-commerce, third-party logistics (3PL), and manufacturing sectors.

The Delhi-based warehouse firm is now constructing the first phase of a one-million-square-foot facility in Sohna, Gurgaon, with completion anticipated by November of this year.

"This structure is constructed on 55 acres of land. Currently, we are investing Rs 100 crore to construct 500,000 square feet, and the remaining 500,000 square feet will be built by June 2023 "Janmejay Srivastav, executive director and chief executive officer of LAS Ventures, said. We anticipate having an operating portfolio of 4-5 million sq ft by 2024-2025.

In the last two years, the Sohna-Ballabgarh market has gained popularity as a result of industrial and warehousing operator ESR India acquiring property there to construct a 77-acre warehouse. Through joint partnerships, the area is drawing international investment seeking to buy property for the development of logistic parks.

"Direct access to the Mumbai Expressway, proximity to the KMP expressway, a proposed direct link to Jewar International Airport, and proximity to Gurgaon via a signal-free elevated highway has been a game changer for the region, reducing travel time from 90 minutes to under 45 minutes," said Srivastav.

3PLs, retail and manufacturing clients are interested in leasing facilities to decrease their logistical expenses.

"LAS Ventures plans to develop fully compliant Grade A solar-powered logistics parks in tier I and tier II cities with additional modern amenities such as good ST, comfortable drivers' rooms, labourers' rest rooms and dining areas, e-vehicle charging stations, and LEED Green ratings," the executive said.

A strategic location such as Sohna has a significant impact on decreasing first- and middle-mile costs and obtaining reduced per-package costs.