According to a contract inked in Q3 FY 2022, the Singapore-based fund has agreed to invest $200 Million with Pragati Group in the development of industrial and logistics real estate assets.

A Singapore-based private equity group has invested $200 million in Pragati Group, an industrial and logistics real estate developer located in the National Capital Region.

Since its founding in 2010, Pragati has provided specialised warehouse development solutions to leading MNCs including Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin, and many more.

As per the contract inked in Q3 FY 2022, the Singapore-based fund has agreed to invest $200 Million with Pragati Group in the development of industrial and logistics real estate assets. Pragati One & Pragati Farukhnagar Logistics Parks, 2 international quality operating properties with a combined GLA of around 2 million square feet, were purchased as part of the agreement, enabling the effective departure of the former financial partner Morgan Stanley. This fund also received an ownership investment in Pragati as part of the agreement.

According to Pragati Group's founder, Col. Jitender Yadav, "By building a portfolio spanning 30 million sq.ft across important Tier I and Tier II Indian cities with best in class Grade A specifications and with sustainability and ESG at the core of our business, Pragati's vision is to be one of the top 5 industrial & logistics real estate developers in the nation. With this cash, Pragati will be able to grow to other important locations in India. Pragati has a strong track record of working with top-tier firms like Amazon, Flipkart, DHL, Daikin, and Bosch."