Welspun One Fully Commits ₹2000 Crore Fund 2 in 8 Months, Expands Logistics Portfolio
Welspun One, a leading logistics and industrial real estate manager, has fully committed its ₹2000 crore Fund 2 across nine Grade A assets within eight months of its final close. The company is also launching a ₹1,000 crore co-investment program to furthe
Logistics Real EstateIndustrial Real EstateWelspun OneFund CommitmentCoinvestment ProgramReal EstateFeb 27, 2025
This rapid deployment of capital underscores Welspun One’s ability to identify and capitalize on high-quality opportunities in the logistics and industrial real estate sector.
The company is also launching a ₹1,000 crore co-investment program, with ₹600 crore already secured.
This additional capital will fund the development of 5 million sq.
ft.
of warehousing space, increasing its investments from nine to 14-15 properties.
The new investments will further solidify Welspun One’s position as a leader in the logistics and industrial real estate market.
According to the company’s press release, Fund 2 has secured a portfolio of highly differentiated, off-market opportunities in new-age warehousing assets.
These assets are witnessing increasing demand from occupiers and investors alike, driven by evolving supply chain needs, rising e-commerce penetration, and a growing preference for tech-enabled, efficient logistics spaces.
The new-age warehousing assets offer superior long-term returns compared to traditional warehousing, making them an attractive investment for both occupiers and investors.
With this expansion, Welspun One’s aggregate portfolio will grow to approximately 22 million sq.
ft., generating a projected net operating income (NOI) of approximately ₹1,100 crore ($130 million) upon completion.
This will lead to an asset under management (AUM) of $1.3 billion (₹11,050 crore).
Fund 2 is also tracking a mark-to-market gross return of approximately 24 percent equity-IRR, reflecting the strong performance and potential of the portfolio.
The company’s projects at JNPA and Thane have attracted significant leasing interest, reinforcing their position as premium logistics and business hubs.
At JNPA, nearly 30 percent of the warehousing inventory is already pre-leased at premium rents of ₹55-60 per sq.
ft.
The WTC Thane development is also seeing strong pre-leasing traction, with commitments nearing closure at benchmark rates of ₹130-135 per sq.
ft for urban logistics and ₹150-160 per sq.
ft for commercial use.
This reflects the differentiated offering and high demand for Welspun One’s assets.
Overall, the leasing momentum across the portfolio is robust, with total leasing for FY 2024-25 expected to reach approximately 2.5 million sq.
ft., while maintaining zero vacancy.
This strong leasing performance is a testament to the quality and appeal of Welspun One’s properties.
Anshul Singhal, Managing Director of Welspun One, commented, “The rapid commitment of Fund 2 reaffirms our ability to efficiently deploy capital, identify high-quality opportunities, and execute with discipline.
At Welspun One, we are building an institutional-grade platform backed by a team with deep decadal expertise in investment, development, and asset management.
The launch of our co-investment program is a natural extension of this strategy, allowing us to capitalize on large-scale opportunities while maintaining prudent diversification.
As we scale, our focus remains on delivering best-in-class industrial real estate solutions that not only generate superior returns for our investors but also contribute meaningfully to India’s evolving logistics infrastructure.”
Welspun One’s commitment to excellence and innovation in the logistics and industrial real estate sector positions it well to continue its growth and deliver significant value to its investors and the broader market.
Frequently Asked Questions
What is Fund 2 by Welspun One?
Fund 2 by Welspun One is a ₹2000 crore investment fund that has been fully committed across nine Grade A assets within eight months of its final close. It focuses on new-age warehousing assets that offer superior long-term returns.
What is the co-investment program launched by Welspun One?
Welspun One has launched a ₹1,000 crore co-investment program to further expand its logistics portfolio. ₹600 crore has already been secured, and the additional capital will fund 5 million sq. ft. of warehousing space.
What is the expected net operating income (NOI) from Welspun One’s expanded portfolio?
With the expansion, Welspun One’s aggregate portfolio will grow to approximately 22 million sq. ft., generating a projected net operating income (NOI) of approximately ₹1,100 crore ($130 million) upon completion.
How is the leasing performance at Welspun One’s JNPA and Thane projects?
The leasing performance at Welspun One’s JNPA and Thane projects is robust. At JNPA, nearly 30 percent of the warehousing inventory is pre-leased at premium rents of ₹55-60 per sq. ft. The WTC Thane development is also seeing strong pre-leasing traction.
What is Welspun One’s strategy for the future?
Welspun One’s strategy for the future is to continue building an institutional-grade platform with deep expertise in investment, development, and asset management. The focus is on delivering best-in-class industrial real estate solutions that generate superior returns and contribute to India’s evolving logistics infrastructure.
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