Kotak Realty To Invest Rs 200 Crore In A Warehousing JV With DRS Group
Kotak Realty Fund willl invest close to Rs 200 crore in setting up a joint venture company with the DRS Group, a third-party logistics company based out of New Delhi, reports The Economic Times. The newly floated special purpose vehicle, DRS Warehousing (South), will build and operate almost six warehouses in the southern region of India. The DRS Group is expected to have a 25 per cent stake in the JV, while Kotak Realty Fund will hold the majority.
In 2007, Kotak Mahindra Bank’s Private Equity Group had invested almost Rs 100 crore ($22.5 million) in the DRS group. Earlier this year, the DRS Group had entered into another JV with Merrill Lynch to build eight warehouses in North India. Merrill Lynch, the majority stake holder, had invested close to Rs 300 crore in the JV. The DRS Group has already begun construction of warehouses at Jaipur, Delhi, Nashik and Ambala.
04/29/08, 5:40 PM |
Prime Space on Lease for Warehouse:
1) 40,000 sq ft at Bahadurgarh, Haryana.
2) 1,00,000 Sq ft Built-to-suit option at Sonepat (NH-1), Haryana.
3) 50,000 sq ft at Daruhera, Rajasthan.
4) 30,000 sq ft at Mundka, New delhi.
For Further Details, Contact:
Jaskirat.S.Bansal | Managing Partner
Grand Real Estates
M: +91-98108-88477.
Visit Us: http://www.grandrealestates.com