Pragati Group raises $200m to develop industrial, logistics real estate assets
Pragati Group, a Delhi NCR-based industrial and logistics real estate developer, has raised $200 million of equity capital from a private equity fund based in Singapore.
The commitments will go toward the development of industrial and logistics real estate assets, pertaining to a deal signed in third quarter 2022. Part of the deal involved acquisition of two international-grade operational logistics parks, totaling 2 million square feet of gross lettable area. The deal provided a successful exit to the previous financial partner, Morgan Stanley.
Part of the deal also saw this fund acquire an equity stake in Pragati.
“Pragati's vision is to be one of the top five industrial & logistics real estate developers in the country by developing a portfolio spanning 30 million square feet across key Tier I and Tier II Indian cities, with best-in-class grade A specifications and with sustainability and ESG at the heart of our business,” said Jitender Yadav, founder