Business & Investment

Mahindra Logistics Shares: Mahindra Logistics Soars 9% in Warehouse Facility Transactions with LOGOS

New Delhi: Third-party logistics company and Asia-Pacific logistics specialist LOGOS announced a long-term lease agreement to set up a 1.4 million-square-foot warehouse facility in Delhi National, boosting market share by 9% on Thursday’s early trading. .. Capital Area.

The counter soared to a high of 729 rupees against 668.15 rupees on the National Stock Exchange.

The deal represents the country’s largest warehouse facility in a single park, and according to the agreement, LOGOS will set up three Grade A warehouses in the Luhari Logistics Estate.



The first such warehouse (500,000 square feet) was completed in mid-2021 and is fully operational, while the other two are in development and will probably be delivered in late December to early 2022. ..

“We use Lean Construction to provide three Mahindra Logistics warehouses. This process uses offsite precast, manufacturing, and preassembly for building and external development components. Combined with our strong local network and regional expertise, we have made it possible to provide the first facility on a tight schedule despite the challenges of the global epidemic, “said LOGOS CEO of India. Mehul Shah said in the report.

Mahindra Logistics is expected to pay $ 45 million in rent over a total holding period of nine years, adding that the two companies declined to comment on the holding period and rent.

Mahindra Logistics employs more than 2,500 and third-party employees across these facilities.

LOGOS Luhari Logistics Estate is part of LOGOS India Logistics Venture with a $ 800 million investment capacity to develop and own high quality, state-of-the-art logistics facilities in India’s leading logistics market.

Mahindra Logistics Shares: Mahindra Logistics Soars 9% in Warehouse Facility Transactions with LOGOS

https://economictimes.indiatimes.com/markets/stocks/news/mahindra-logistics-soars-9-on-warehouse-facility-deal-with-logos/articleshow/88044108.cms Mahindra Logistics Shares: Mahindra Logistics Soars 9% in Warehouse Facility Transactions with LOGOS

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