Greenbase Industrial and Logistics, the Hiranandani Group-backed industrial and logistics platform, has announced a significant expansion plan with ₹3,500 crore investment to develop 9 million square feet of industrial, warehousing and logistics infrastructure over five years. According to reports from Business Standard, this expansion forms part of the company's Greenbase 2.0 initiative, representing a substantial commitment to India's industrial and logistics sector growth. The Mumbai-based real estate group will initially fund and develop Greenbase 2.0 on its own, while remaining open to strategic partnerships for future phases, as confirmed by N. Sridhar, CEO of Greenbase.
The investment will be strategically distributed across multiple regions, with ₹2,000 crore allocated for 5 million square feet of industrial and logistics space in Tamil Nadu. As reported by Business Standard, the company has already acquired 215 acres of land across Chennai, including 160 acres in Palur, Oragadam, and 55 acres in Arani, North Chennai. Additionally, Greenbase will invest approximately ₹1,500 crore for a 4 million square feet pipeline across South and West India, where land acquisition is currently being completed. The expansion will focus on Grade-A industrial, warehousing and logistics infrastructure across key manufacturing corridors, targeting sustained demand from manufacturers and logistics operators.
Greenbase's existing portfolio includes industrial and logistics parks in Oragadam, Chennai, and Talegaon, Pune, with phase one already built and delivered, totalling approximately 5 million square feet. According to Business Standard, the company maintains 17.85 million square feet of planned and developed area overall. The first Greenbase platform was created in 2019 through a joint venture between Blackstone and a Hiranandani Group entity, with a planned investment of ₹2,500 crore to develop warehousing and logistics parks across the country. Blackstone and Hiranandani currently hold 80:20 stake, respectively, in the joint venture, having built and delivered 5 million sq. ft. together.
Niranjan Hiranandani, chairman of Hiranandani Group, emphasized the company's commitment to creating future-ready industrial destinations backed by development discipline and institutional credibility. As reported by Business Standard, N. Sridhar, CEO of Greenbase, expressed bullish confidence in India's industrial and logistics sector outlook, noting that the Made in India momentum is creating demand from large manufacturers while also developing a broader ecosystem of ancillary businesses in infrastructure technology, renewable energy, auto components, and industrial technology. "Our approach goes beyond creating industrial space. We want to create ecosystems where manufacturing, technology, logistics, sustainability and people come together to create long-term value," Sridhar stated, highlighting Tamil Nadu's priority as a market due to its manufacturing depth, skilled workforce, policy environment and strong road and port connectivity.
