Anshul Singhal, a real estate veteran with over two decades of experience in building institutional platforms, has launched Vantrock Real Assets Pvt Ltd (VRAPL), an operator-led real assets platform initially focused on warehousing, industrial and logistics parks. Headquartered in Mumbai, the company plans to develop approximately 11.5 million sq ft of real-estate, representing an estimated gross development value (GDV) of ₹4,200 crore (approximately US$434 million) upon completion. The first phase will cover around 3 million sq. ft., with an estimated GDV of ₹1,100 crore (approximately US$113 million) across the National Capital Region (NCR), Bengaluru and Pune. Construction is scheduled to begin in 2027, with the first rental income targeted from 2028 onwards. Land for these projects is at advanced stages of negotiation, documentation and/or regulatory approvals. The remaining 8.5 million sq ft is planned across the same markets, alongside the Mumbai Metropolitan Region (MMR), with projects expected to be operationalised in phases over the next 12–18 months. AN INFILL-FIRST APPROACH TO WAREHOUSING Vantrock’s strategy centres on strategic infill locations within established industrial and logistics corridors, where demand for quality warehousing is strong but suitable supply is constrained. The company is targeting land parcels of approximately 15–60 acres, with development potential ranging from 0.4 million to 1.5 million sq. ft. Its proposed portfolio spans big-box and build-to-suit facilities, multi-storey warehouses, last-mile distribution, dark stores, self-storage, cold chain, industrial plots, workforce accommodation and mixed-use developments where offices or retail complement warehousing. “We are going the other way by acquiring the infill land that is left inside proven corridors, and the Grade-B sheds already standing there, refurbished to Grade-A standards,” said Singhal, Founder and CEO, Vantrock. He added that while assembling such locations can be slower and more challenging, they offer greater value to customers by keeping facilities closer to their business operations. REFURBISHMENT AS AN ALTERNATIVE TO NEW CONSTRUCTION A distinctive element of the platform is its plan to acquire existing Grade-B warehouses, either outright or through joint ventures, and upgrade them to Grade-A standards. Vantrock expects its in-house development team to complete these refurbishments within six to 12 months—less than half the time required for a new build and at a lower cost than developing from scratch. The model is intended to provide occupiers with modern facilities closer to demand while increasing the supply of quality warehousing and logistics infrastructure within established urban markets, without requiring cities to invest in additional land. The company expects individual projects to move from land to revenue within 18–24 months of construction commencement. Funding is envisaged through a combination of equity, construction debt and, where appropriate, forward funding from institutional buyers. Joint ventures, joint development arrangements and long-term leasehold structures with landowners and capital partners will also form part of its approach. SAFETY, COMPLIANCE AND INSTITUTIONAL STANDARDS Shailesh V Haribhakti, Chairman of the Board, Vantrock, highlighted the need to improve safety and compliance across India’s existing warehousing stock, particularly in areas such as fire protection, structural integrity, lighting and ventilation. “Bringing that stock to standard is as much a governance task as a real estate one,” Haribhakti said, adding that maintaining global standards across both site operations and board-level oversight would be central to the platform’s growth. ADDRESSING A WIDENING GRADE-A SUPPLY GAP Vantrock’s market selection is informed by a market study and investment thesis prepared by CBRE, which identified high-value warehousing corridors near Tier-I cities. According to CBRE Research, India faces an estimated 117 million sq. ft. shortfall in Grade-A warehousing supply between 2026 and 2031, as demand from third-party logistics providers, e-commerce companies and manufacturing occupiers outpaces quality supply across key corridors. Rami Kaushal, Managing Director – Consulting & Valuation, CBRE India, described the market as being at an inflection point, with the gap between demand and quality supply expected to widen through the end of the decade. Beyond its initial warehousing and industrial focus, Vantrock plans to explore global capability centres (GCCs), suburban office campuses, strata offices, data centres and infrastructure assets as distinct strategies in subsequent phases. The platform’s proposition rests on bringing institutional-grade development and operating standards into established logistics markets—combining new construction with refurbishment to address the shortage of quality space closer to India’s major demand centres.