Latest News | NDR Acquires LSA Warehousing for Rs 42 Crore

Mumbai, Jun 6 (PTI) Logistics solutions provider NDR Warehousing on Tuesday announced that it has acquired LSA Warehousing Private Limited for Rs 42 crore.

The acquisition, which incurred a substantial investment of Rs 42 crore, encompasses an expansive 18 acre-project strategically positioned along the Sohna-Ballabhgarh road, NDR Warehousing said.

Also Read | Odisha Train Tragedy: List of Injured, Deceased Passengers Put On Websites; Check Details.

This marks the company's fourth venture in the area, with a focus on the thriving micro market of Sohna, complementing their presence in Sarita Vihar and Bilaspur-Tauru road, it added.

Global investment manager Investcorp-backed NDR has a portfolio of over 15 million square feet of operational assets, which includes 18 logistics parks spread across eight cities, including Chennai, Mumbai, Bengaluru, Coimbatore and Kolkata.

Also Read | Indian Girls Aspire To Build World-Class Apps, Solve Problems.

Currently, the company has over 4 million square feet of warehousing and industrial assets under construction with an investment of Rs 800 crore.

As phase-I of the project is slated for completion within 6-8 months, NDR aims to deliver the entire project within a year, the company said.

"Catering to the evolving needs of our clients, we have expanded our portfolio through the acquisition of LSA Warehousing. This strategic move reinforces our commitment to delivering exceptional warehousing solutions and supporting the growth of businesses in the NCR region and to the sector at large," Amrutesh Reddy, Managing Director of NDR Warehousing, said.

The company said it has plans to add 4-5 million square feet of space per year to its warehouses and industrial parks across the country.

Its clientele includes Fortune 100 companies, leading Indian corporates, e-commerce giants, and 3PL players, among others.

Last year, Investcorp led a USD 55 million investment in the company through a convertible instrument.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)