Bengaluru: The logistics platform of private equity firm Alta Capital is acquiring warehouses in three metros from Singapore's Xander Investment Management for roughly ₹2,000 crore in two separate deals, making it India's third-largest warehousing and industrial real estate operator.
The Alta Capital unit Logicap has already acquired 2.6 million square feet (sq. ft) in Chennai and Kolkata for about ₹1,500 crore, and plans to add 1 million sq. ft more at Bhiwandi near Mumbai in a second tranche, Logicap chief investment officer Abhay Goyal said.
"This transaction fits our core strategy of blending greenfield development with institutional acquisitions that elevate portfolio quality and tenant reach," said Abhay Goyal, chief investment officer at Logicap, adding the assets benefit from long-term structural demand.
Four-year-old Logicap has scaled rapidly through ground-up developments and targeted buyouts in retail and manufacturing hubs. The latest purchases swell its portfolio to roughly 25 million sq. ft, behind Blackstone Inc.-backed Horizon Industrial Parks with 60.5 million sq. ft and IndoSpace with 58 million sq.ft.
The initial portfolio has a 1.9 million sq. ft logistics park within a Chennai free trade zone with duty deferments and tax benefits for tenants. A second property in Bagnan, near Kolkata, targets eastern consumption corridors. Both sites are operational and fully let to bluechip tenants, including DHL Supply Chain, DB Schenker, and Flipkart Internet Pvt.
A Xander representative did not respond to requests for comment.
The sale of the Bhiwandi warehouse will mark Xander's exit from India's warehouse space, which it entered in 2019 with a $250 million industrial venture. The Singapore firm also has office and retail holdings in India.
Founded in 2021 by former Blackstone executive Siddhartha Gupta, Alta Capital's real asset investments span flexible workspace provider Tablespace, IPO-bound student housing firm Elevate Campuses Ltd., high-end residential developer Isprava, data centres, and Logicap.
Mint reported last year that Alta Capital was among international suitors pursuing Xander’s logistics portfolio.
Inorganic deals have accelerated Logicap’s expansion, following its ₹850 crore-plus buyout of 2.5 million sq. ft from IndoSpace in 2024. The platform also operates via Pragati Warehousing and EcoBox Industrial Parks.
Institutional capital continues pouring into Indian logistics, buoyed by rapid growth in third-party logistics, e-commerce, quick commerce, and supply-chain nearshoring.
Government initiatives such as the National Logistics Policy are bolstering infrastructure, driving multinational tenants toward institutional-grade facilities.
India's logistics sector is projected to reach $540 billion by 2030, according to industry forecasts.
Modern warehousing stock topped 610 million sq. ft in 2025, with institutional Grade A facilities comprising 38% of the total, real estate broker JLL India said in February. Total inventory is expected to reach 850 million sq. ft by 2030.
Madhurima is Senior Editor at Mint and tracks and writes on real estate, urban issues and infrastructure. Besides news stories, she also writes longform stories. She has over two decades of experience in journalism, and has tracked India's real estate sector closely. Real estate in India is complex and fascinating, and she is one of the few journalists who has tracked the sector over the years and mapped critical events—from the Lehman impact in 2008, to the NBFC-led liquidity crisis, to the boom cycle after the 2020 pandemic. She is a Bengaluru-based business journalist but is always looking forward to travel wherever a story takes her. It could be Ayodhya or Jewar to witness the rise of new property markets, or Goa and Hyderabad to experience the changing real estate landscape. Real estate can be a tricky subject, so her aim is always to dig beneath the surface and tell a story as accurately as possible for the readers.<br><br>She has worked in newsrooms across Mumbai, Bengaluru and Kolkata. She has a Masters degree in English Literature and a postgraduate diploma in journalism from Symbiosis, Pune.
