IndoSpace, backed by the Everstone Group, has announced a significant investment of over Rs 580 crore to develop two new logistics parks in Karnataka. This investment is part of a memorandum of understanding (MoU) signed with the state government, reflecting the company’s commitment to bolstering the region’s logistics infrastructure.
The new logistics parks will cover a combined area of 76 acres and offer a total development potential of 1.8 million square feet. The facilities are aimed at supporting various sectors, including automobiles, engineering, electronics, and third-party logistics (3PL) operators.
Development of the parks will proceed in phases, with work commencing this year and operational readiness expected within the next two to three years. The IndoSpace Nelamangala-II logistics park, situated along the Bengaluru-Mumbai highway (NH48), will occupy 35 acres with an investment of Rs 240 crore. This facility is designed to enhance the industrial capabilities of the region. The second park, IndoSpace Narasapura-II, will span 40 acres near key industrial hubs such as Vemgal, Malur, and Hoskote, with an investment of Rs 340 crore.
This move is part of IndoSpace’s broader strategy, following a seven-year agreement signed in 2022 with the Karnataka government, which includes a total investment of Rs 3,000 crore in the state’s warehousing and logistics sector. The initiative is projected to create approximately 14,000 new jobs. Currently, IndoSpace operates three logistics parks in Karnataka: IndoSpace Nelamangala-I, covering 16 acres; IndoSpace Bommasandra, spanning 5.4 acres on the Bengaluru-Chennai highway; and
