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Surrendra Apeejay Group Secures INR 300 Cr For Its Logistics Division

The fund will fuel the ongoing expansion drive of the century-old Kolkata-based services and industrial conglomerate, Apeejay Surrendra Group's Real Estate division, Apeejay Real Estate (ARE)

Photo Credit : PTI,

The Apeejay Surrendra Group has raised INR 300 crores for its logistics and industrial parks division through the Non-Convertible Debentures (NCD) route.

The fund will fuel the ongoing expansion drive of the century-old Kolkata-based services and industrial conglomerate, Apeejay Surrendra Group's Real Estate division, Apeejay Real Estate (ARE).

Its logistics and industrial parks located in cities across India including Delhi NCR, Kolkata, Dankuni, Haldia, and Kalinganagar, the company portfolio boasts of continuously developing Grade-A quality warehouse facilities.

Karan Paul, Chairman, Apeejay Surrendra Group said, “We are ready to be the crucial support system to help Indian products dominate the world market. The government projection to reduce costs in the logistics sector by 10% in the next 5 years, unified policy, and a regulatory environment for end-to-end logistics services make the logistics and warehouse more and more promising. Backed by the government policy and with funds coming in, we are now on a rapid expansion drive,”

Reiterating how in light of the growth of the Indian Logistics and Warehousing, ARE stands as an obvious beneficiary. Priti Paul, Director, Apeejay Surrendra Group said, “We believe that the Indian Warehousing Real Estate sector is poised for a meteoric rise as a result of Government policies, rising demand from 3PL and e-commerce players, shifting of users toward larger modern storage space, consumers preferring on-demand solutions and demand for fulfilment centres from omni-channel retailers, robotics and technology are all contributing dramatically to the sector's rapid growth. This is the right time for us to expand.”


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