To build a portfolio worth Rs 23 billion across five cities (MMR, NCR, Bengaluru, Chennai and Lucknow) together accounting for approximately 6.6 million square feet of gross leasable area, Welspun One Logistics Parks has acquired 100% of its Rs 5 billion capital pledged to six enterprises.

The company last year launched India's first Alternative Investment Fund (AIF) specifically aimed at warehouse expansion.

One million square meters of the 6.6 million square meters have already been completed and an additional two million square meters are expected to be completed in the second quarter of 2023.

In just over two years from initial close, 50% of the company's fund portfolio will be delivered, operational and generating rent, according to the company.

In particular, there is significant letting space for the remaining 60% of the portfolio, which is currently pre-let to a leading group of tenants such as Delhivery, Flipkart, FM Logistics, Tata Croma and Ecom Express.