Pragati Warehousing has recently formalised a Memorandum of Understanding (MoU) with the Tamil Nadu government, signaling a substantial investment exceeding Rs.1,500 crores over the next five years.
The investment will primarily focus on the development of industrial and logistics parks, creating direct employment for 500 individuals and an additional 2,000 jobs indirectly over the envisioned period.
Lt Col Jitender Yadav, Chairman and Founder of Pragati Warehousing, expressed the company’s dedication to transforming India’s warehousing landscape, setting global standards in logistics and industrial real estate. Maneesh Jain, Chief Investment Officer, highlighted Tamil Nadu’s appeal to investors, citing its robust industrial ecosystem.
Chandraveer Singh, Chief Financial Officer at Pragati Warehousing, emphasised the MoU’s role in achieving shared objectives and laying a robust foundation for further expansion in key micro markets of the state. The company is actively involved in a Rs. 350 crore investment for a Grade-A industrial and warehousing park in Sriperumbudur, with completion expected this year.
Pragati Warehousing plans to add 18-20 million sq. ft. to its portfolio in the next five years, focusing on tier-1 micro markets across India. This expansion aligns with the company’s commitment to enhancing the nation’s production and supply chain ecosystem.