Pragati Group, an NCR-based industrial and logistics real estate developer, has raised $200 million in equity from a Singapore-based private equity fund.

Since its foundation in 2010, Pragati has been providing tailor-made warehouse development solutions to top multinationals such as Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin and many more.

Under the terms of the agreement, the Singapore-based fund will invest $200 million with Pragati Group in the development of industrial and logistics real estate assets in the third fiscal quarter of 2022. Part of the transaction was the acquisition of two international operating assets in NCR for a total of approximately 2 million square meters of GLA, Pragati One and Pragati Farukhnagar Logistics Parks, providing a successful exit to previous financial partner Morgan Stanley. This fund also acquired an equity stake in Pragati as part of the deal.

According to Col. Jitender Yadav, Founder of Pragati Group, "Pragati's vision is to be one of the top five industrial and logistics real estate developers in the country, with a portfolio spanning 30 million square feet across key Tier I and Tier II Indian cities, built to best-in-class Grade A specifications and with sustainability and ESG at the forefront of our operations. Pragati has a proven track record of partnering with world-class companies such as Amazon, Flipkart, DHL, Daikin, and Bosch, among others, and this capital will allow us to expand to other major cities in India."

Headquartered in Delhi NCR and with regional offices across the country, Pragati Group has developed 12 million square feet of logistics parks over the past decade, making it one of the fastest and most reliable logistics developers.