IndoSpace to Invest ₹580 Crore in New Karnataka Logistics Parks

IndoSpace, backed by Everstone Group, has announced plans to invest over ₹580 crore in the development of two new logistics parks in Karnataka. These parks, covering 76 acres, will cater to the growing demand from the automotive, engineering, electronics, and third-party logistics (3PL) sectors. The initiative follows a memorandum of understanding (MoU) signed with the Karnataka government, reaffirming IndoSpace’s commitment to enhancing the state’s industrial infrastructure.

The development will be executed in phases, with work starting this year. The first park, IndoSpace Nelamangala-II, will be spread over 35 acres along the Bengaluru-Mumbai highway (NH48) and will require an investment of ₹240 crore. This park is expected to bolster the region's industrial capabilities by offering state-of-the-art logistics solutions.

The second park, IndoSpace Narasapura-II, will span 40 acres near the industrial hubs of Vemgal, Malur, and Hoskote, off Old Madras Road (NH 75). IndoSpace plans to invest ₹340 crore in this project, aiming to support the rapidly expanding industrial activities in the region. Both parks are set to become operational within the next two to three years.

This investment is part of IndoSpace’s larger commitment to Karnataka, where it plans to invest ₹3,000 crore over seven years in the state's warehousing and logistics sector. The development of these parks is expected to create 14,000 jobs, further boosting the local economy.

IndoSpace already operates three logistics parks in Karnataka, including Nelamangala-I, Bommasandra, and Narasapura-I, showcasing its strong presence and ongoing efforts to strengthen Karnataka’s industrial and logistics infrastructure.

News by Rahul Yelligetti