Few months ago, TVS ILP had taken up around 145 acres in Andhra Pradesh, Tamil Nadu, and Madhya Pradesh. It further plans to develop around 5 million sq ft with a total investment of Rs 1,500 crore over the coming quarters. The company is exploring new markets like Pune, Jaipur, Chennai, Hosur, Madurai, Coimbatore, Kochi, and Guwahati.
“The Southern region constitutes 60% of our comprehensive land bank portfolio, signifying a substantial presence, while the Eastern region, poised for significant growth, contributes 40%. Specifically focusing on South India, we aim to leverage its robust manufacturing base,” said Manikandan Ramachandran, COO, TVS ILP.
Currently, the company has a domestic portfolio of industrial and logistics parks for about 10 million sq ft and is targeting revenues of $100 million annually over the next five years.
These acquisitions fit well with TVS ILP’s expansion strategy for the next financial year wherein the company aims to build and expand industrial and logistics parks in key Tier 1 and Tier 2 cities across South, East, and Central India.
“This strategic land acquisition was specifically concentrated in South and East India. Of this total, 90 acres were dedicated to the southern geography, reflecting a substantial investment of Rs 160 crore,” said Ramachandran.
