DHL India leases 417k sq ft warehouse near Mumbai

Economic Times
Economic Times
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DHL Supply Chain India has leased over 417,000 sq ft of warehouse space in Bhiwandi to meet rising demand in the logistics sector. This expansion highlights the growth in India's consumption and manufacturing industries.
DHL India leases 417k sq ft warehouse near Mumbai
A What happened
DHL Supply Chain India has made a strategic move by leasing over 417,000 square feet of warehouse space at One Samruddhi Park in Bhiwandi. This decision comes as a response to the growing demand in India's consumption and manufacturing sectors. The lease agreement, registered on November 7, includes a starting monthly rent of ₹9.19 crore and a security deposit of ₹2.75 crore. The warehouse is located along the Samruddhi Mahamarg corridor, a key logistics hub in the Thane region. This transaction follows another significant lease by DHL in August, where they secured over 317,000 square feet in Panvel. DHL currently operates over 21 million square feet of warehousing space in India, serving more than 50,000 locations. These moves reflect a broader trend among multinational logistics companies to consolidate operations and secure large, contiguous spaces.

Key insights

  • 1

    Growing Demand

    The lease reflects increasing demand in India's logistics sector.

  • 2

    Strategic Expansion

    DHL is enhancing its distribution capabilities through significant leases.

  • 3

    Logistics Hub

    Bhiwandi is emerging as a key logistics hub in the Thane region.

Takeaways

DHL's recent warehouse lease in Bhiwandi underscores the company's commitment to expanding its logistics capabilities in response to rising demand in India. This trend is likely to continue as the consumption and manufacturing sectors grow.

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Economy