Blackstone and Casagrand: A $700 Cr. Logistics Launch

Casagrand, the real estate developer, has entered a co-development agreement with private equity firm Blackstone to build two industrial and logistics parks in Sriperumbudur, near Chennai.

The project will cover 4.2 million sq. ft. on a 154-acre land parcel, with Blackstone committing an investment of approximately Rs 700 crore. The facilities are expected to be operational within 30 months and will cater to manufacturing clients, including the electronics and automobile sectors, as well as logistics end-users.

The partnership aligns with Casagrand’s strategy to expand its logistics portfolio, targeting 10–15% of group revenue from this segment. Arun MN, Chairman and MD of Casagrand, noted, “Industrial warehousing has been part of our operations for the last 7–8 years. We realised the need for a long-term partner… and Blackstone is the ideal collaborator.”

News by Rahul Yelligetti.