IndoSpace Core Expands Portfolio with ₹3,000 Cr Deal

IndoSpace Core, a joint venture between CPP Investments and IndoSpace, announced the purchase of six industrial and logistics parks worth ₹3,000 crore (471 million Canadian dollars).

According to the company, the six parks—located in major logistics hubs such as Bengaluru, Chennai, Delhi, Mumbai, and Pune—span a total of 380 acres and offer approximately 9 million sq. ft. of leasable space. Founded in 2017 to acquire and enhance logistics facilities across India, IndoSpace Core is jointly owned by the supply chain infrastructure platform IndoSpace and the Canada Pension Plan Investment Board (CPP Investments), which holds a 93 percent stake in the joint venture.

CPP Investments plans to allocate ₹1,400 crore (217 million Canadian dollars) to support the acquisition, it said. The acquisition strengthens the JV’s position as the leading operator of stabilised industrial and logistics real estate in India, according to the company.

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“India’s logistics sector continues to benefit from strong structural growth, driven by urbanisation and an expanding manufacturing footprint. We believe this acquisition will deliver attractive, risk-adjusted returns for CPP contributors and beneficiaries,” said Hari Krishna V, Managing Director, Head of Real Estate India and Mumbai Office Head, CPP Investments.

Following this transaction, IndoSpace Core’s portfolio will expand to 22 million sq. ft. of leasable space across 948 acres, serving more than 120 domestic and global firms in six key industrial regions—Bengaluru, Chennai, Delhi, Hyderabad, Mumbai, and Pune.

IndoSpace’s strategy is to remain capital-efficient while actively pursuing new development opportunities. With India establishing itself as a global manufacturing hub, the platform is seeing increasing demand for high-quality, compliant, and sustainable infrastructure—an area where the company anticipates its next phase of growth, said Anshuman Singh, Managing Director and CEO, IndoSpace.