Gurgaon Based Warehouse Developer Pragati Group Raises USD 200 Million From Singapore Based Group

Pragati Group Raises USD 200 Million From Singapore Based Group

Pragati Group, an industrial and logistics real estate developer located in the National Capital Region (NCR), has secured $200 million from a Singapore-based private equity firm for the development of industrial and logistics real estate assets.

The Singapore-based fund has committed to investing $200 million with Pragati Group, according to a statement released by the company. The investment will go towards a portion of the transaction comprising the purchase of two operating properties of about 2 million square feet of gross leasable space, namely Pragati One and Pragati Farukhnagar Logistics Parks.

This will allow the former financial partner, Morgan Stanley, to exit.

The Singapore-based firm has invested $200 million to a portion of the transaction comprising the purchase of two operating properties of international calibre, namely Pragati One and Pragati Farukhnagar Logistics Parks.

Since 2010, the Pragati Group has provided bespoke warehouse development solutions to leading multinational corporations such as Amazon India, Flipkart, DHL-Bluedart, Bosch, and Daikin, among others.

"Pragati's ambition is to be one of the top five industrial and logistics real estate developers in the nation by creating a portfolio of 30 million square feet in Tier I and Tier II cities. This funding would allow us to grow to other key cities in India, said Pragati Group founder Jitender Yadav.