Hiranandani’s Greenbase Industrial and Logistics Park to Invest ₹4,500 Crore Over 5 Years in Built-to-Suit Warehousing Development

Hiranandani’s Greenbase Industrial and Logistics Park (GILP) announced plans to invest ₹4,500 crore over the next five years to develop 15 million square feet of industrial built-to-suit (BTS) warehousing space. This expansion will take place in key locations such as Chennai, the Mumbai Metropolitan Region, Pune, Bengaluru, Hosur, Kolkata, and Nashik, according to CEO N Shridhar. GILP is a joint venture between Hiranandani and the Blackstone Group.

Since its launch in 2018, Greenbase has constructed 5.5 million square feet of industrial BTS with a total investment of ₹2,000 crore, Shridhar informed the media. Of the upcoming developments, 70% will be dedicated to industrial BTS, while the remaining 30% will focus on warehousing and industrial warehousing.

GILP's clients span sectors such as renewable energy, automotive, and digital electronics, with notable names like Vestas and Guruit among them. Shridhar also revealed that the company is expanding its presence in Chennai, with plans to acquire 211 acres of land in Oragadam and North Chennai within the next 12 months, adding to the existing 180 acres. The new development will involve an investment of ₹700 crore for land acquisition and an additional ₹700 crore for construction, totaling 391 acres (7.5 million square feet) in Chennai. The project is expected to be delivered within this fiscal year.

Chennai is set to account for 35-40% of GILP’s overall growth, driven by favorable policies, incentives, single-window clearance, and a skilled workforce, making it an attractive market for investment.

HBL