Actis and Mahindra Lifespaces Launch Joint Venture to Develop 16-17 Million Sq Ft of Industrial & Logistics Parks Across India

Mumbai:

Actis, a London-based global investor in sustainable infrastructure, has partnered with Mahindra Lifespaces, the real estate and infrastructure development arm of the Mahindra Group, to establish a joint venture aimed at developing 16-17 million square feet of industrial and logistics facilities across India.

The new platform, Ample Parks, is set to acquire 700-750 acres of land nationwide to create 15-17 industrial and logistics parks over the next five to six years.

Strategic Expansion in Industrial & Logistics Real Estate

Ample Parks' first acquisition is a prime 70-acre industrial land parcel within Mahindra World City, Chennai. This site will be developed into an integrated industrial and logistics park featuring institutional-grade buildings. The joint venture is expected to invest around ₹800 crore in this initial project. Actis will hold a 67% stake in the maiden project, with Mahindra Lifespaces retaining the remaining 33%. The ownership structure may vary across different projects, but Actis will maintain a majority stake.

Key Figures and Projections:

• Total Development Area: 16-17 million sq ft
• Land Acquisition Target: 700-750 acres
• First Project Investment: ₹800 crore
• First Phase Development: 500,000 sq ft in Chennai
• Timeframe for Completion: 18-24 months for the first phase

Rationale Behind the Joint Venture

According to Brian Chinappi, partner and head of real estate at Actis, India's industrial and logistics sector presents a significant investment opportunity, driven by a surge in domestic consumer demand and a global realignment of supply chains, particularly with the 'China Plus One' strategy being adopted by many corporations. Amit Sinha, MD & CEO of Mahindra Lifespaces, added that the partnership leverages Actis' global expertise and Mahindra's deep understanding of the Indian market to create a transformative platform that meets the evolving needs of businesses.

Focus on Large-Format Warehouses and Industrial Facilities

The Chennai project will concentrate on developing large-format warehouses and industrial facilities suitable for light manufacturing sectors such as auto ancillary and electrical components. The joint venture will be led by a seasoned management team under the leadership of CEO Akash Rastogi, with the goal of establishing Ample Parks as a leading provider of industrial and logistics real estate solutions for both global and local corporations.