Warburg Pincus-backed logistic firm Stellar Value Chain Solutions plans to add 50 million sq ft of warehousing centres over the next five years to the existing 12 million sq ft, driven by demand from e-commerce retail and automobile companies.
The company that counts top e-commerce firms among its clients is looking to further strengthen its footprint in metros and expand in tier II and III cities.
It plans to develop 40 logistics parks across these locations.
“We will go very aggressively towards our goal by building ten to twelve million square feet every year. We have seen an excellent recovery in the last four to five months across sectors, but many sectors, in my opinion, have not effectively crossed pre-pandemic levels, ” said Anshuman Singh, CMD, Stellar Value Chain Solutions
Stellar is also planning to raise around $100 m – $200 m via an equity sale to fuel its growth plans.
Source : Economic Times
