Alta Capital-backed logistics platform Logicap is acquiring a portfolio of warehousing assets from Singapore-based Xander Investment Management in a transaction valued at around ₹2,000 crore, strengthening its position in India’s rapidly expanding industrial and logistics real estate market.
The transaction involves warehouse properties across Chennai, Kolkata and Bhiwandi near Mumbai. Logicap has already completed the acquisition of around 2.6 million sq. ft. of warehousing space in Chennai and Kolkata for approximately ₹1,500 crore, while a second tranche involving another 1 million sq. ft. in Bhiwandi is planned, according to Logicap chief investment officer Abhay Goyal.
The acquisitions are expected to significantly expand Logicap’s footprint and make it India’s third-largest warehousing and industrial real estate operator by portfolio size.
“This transaction fits our core strategy of blending greenfield development with institutional acquisitions that elevate portfolio quality and tenant reach,” Goyal said, adding that the assets are positioned to benefit from long-term structural demand for organised logistics infrastructure.
Portfolio expands to 25 million sq. ft.
Logicap, which was founded in 2021, has expanded rapidly through a combination of ground-up development and acquisitions in major manufacturing and consumption markets.
Following the Xander acquisition, its overall portfolio is expected to reach approximately 25 million sq. ft. This places it behind Blackstone-backed Horizon Industrial Parks, with about 60.5 million sq. ft., and IndoSpace, with around 58 million sq. ft.
The initial portfolio acquired from Xander includes a 1.9 million sq. ft. logistics park in Chennai’s free trade zone, where tenants benefit from duty deferments and tax-related incentives.
The second property, located in Bagnan near Kolkata, is strategically positioned to serve eastern India’s consumption corridors.
Both properties are operational and fully leased to major corporate occupiers, including DHL Supply Chain, DB Schenker and Flipkart Internet.
Xander prepares to exit warehousing business
The proposed Bhiwandi transaction is expected to mark Xander’s exit from India’s warehousing sector. The Singapore-based investment firm entered the Indian industrial and logistics market in 2019 through a $250 million industrial venture.
Xander continues to have investments in other Indian real estate segments, including office and retail properties.
The company had earlier put around 3.5 million sq. ft. of warehousing assets across Chennai, Mumbai and Kolkata on the block. Industry reports indicated that several institutional investors had shown interest in the portfolio.
Logicap continues acquisition-led expansion
The Xander transaction is the latest in a series of acquisitions that have accelerated Logicap’s growth.
In 2024, the platform acquired approximately 2.5 million sq. ft. of warehousing assets from IndoSpace for more than ₹840 crore. Logicap also operates through platforms including Pragati Warehousing and EcoBox Industrial Parks.
The company has also been expanding its development pipeline in key logistics markets. In March 2026, its EcoBox platform acquired a 38.5-acre land parcel in Bhiwandi for the development of a 1.3 million sq. ft. institutional-grade industrial and logistics park.
Institutional capital drives warehousing growth
The latest transaction highlights the growing appetite among institutional investors for India’s warehousing and industrial real estate sector.
Demand is being supported by the expansion of third-party logistics, e-commerce, quick commerce, organised retail and manufacturing, along with supply-chain diversification and nearshoring by multinational companies.
Government initiatives, including the National Logistics Policy, are also supporting the development of organised logistics infrastructure and encouraging global companies to use institutional-grade warehousing facilities.
India’s logistics sector is projected to reach approximately $540 billion by 2030, while modern warehousing stock stood at more than 610 million sq. ft. in 2025. Grade-A institutional facilities accounted for around 38% of the total stock, according to JLL India. The overall inventory is expected to reach approximately 850 million sq. ft. by 2030.
The Logicap-Xander transaction therefore comes at a time when investors are increasingly seeking large, operationally stable logistics assets in India’s major consumption and manufacturing corridors.
For Logicap, the acquisition strengthens its presence across three critical logistics markets—Chennai, Kolkata and Mumbai/Bhiwandi—while giving the company a larger portfolio of operational assets and access to established blue-chip tenants.
