Transindia Real Estate To Sell Jhajjar Logistics Park, ₹ 636.71 cr+ Ent. Value

Mumbai, February 29, 2024: Pursuant to demerger, Transindia Real Estate Limited (“the Company”), resulting company of Allcargo Logistics Limited, has signed a definitive agreement to sell its logistics park at Jhajjar in Haryana at an enterprise value of approximately ₹ 636.71 crore. The deal consummation will help Transindia Real Estate Limited (TREL) realize substantial value from this divestment and continue to have zero debt, says a press release issued by the company. 

Additionally, the Company has also divested its 10% stake held in Malur Logistics & Industrial Parks Private Limited, Venkatapura Logistics & Industrial Parks Private Limited, Kalina Warehousing Private Limited, Panvel Warehousing Private Limited, and Allcargo Logistics & Industrial Park Private Limited, for an equity consideration of near ₹ 4.55 Crores. 

As a result of this divestment, Transindia Real Estate Limited, will receive over ₹ 433.37 crore as cash proceeds. The company will deploy the capital to fuel its growth plans and expand its operations in various locations. 

Shashi Kiran Shetty, Founder and Chairman of Allcargo Group, said, “The logistic industry is on the cusp of transformational growth due to the government’s continued focus on logistics infrastructure development for creating an effective infrastructure connectivity. This milestone not only reflects our dedication to quality and innovation but also solidifies our position as industry leaders. TREL will continue to drive logistics infrastructure development to leverage the emerging opportunities with the construction of world class industrial and logistics parks.” 

Jatin Chokshi, Managing Director of Transindia Real Estate Limited, said, “Being a key player in the fields of real estate, warehousing, and commercial logistics, our focus has always been in developing cutting-edge logistics parks across India. Our infrastructure development initiatives are in line with our vision to develop assets that create value and are customised to meet international standards and specific business requirements. As India is making steady progress in becoming a key global manufacturing hub and third largest economy, we are working towards playing our role to facilitate the journey by developing world-class logistics projects.”   

TREL is currently working on to build Grade A warehousing space in Malur, Karnataka and exploring potential space in Tamil Nadu and Uttar Pradesh.