Embassy Group to Build Three Industrial Parks near Gurgaon

Gurgaon, India: Embassy Industrial Parks, a joint venture between property developer Embassy Group and PE firm Warburg Pincus, today signed an MoU with Haryana Government to develop three industrial parks around Gurgaon with a projected investment of Rs 1,910 crores.

The agreement for the developmental projects, which are expected to generate employment opportunities for 4,000 people, was signed at the two-day ‘Happening Haryana Global Investors Summit 2016’, which concluded here today.

The industrial parks will support the booming E-commerce as well as the retail and FMCG companies to consolidate in a post GST scenario, an official release said.

Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks, commented, “We are happy to see the proactive and professional approach of the Haryana government to help private companies grow operations in the state of Haryana. Embassy Industrial Parks is confident of achieving its goals in the state with the support of the government. We promise to host world class infrastructure that will help both multinational and domestic companies set-up factory operations in the state.”

The proposed warehousing project will span the development of integrated Industrial and Logistics Parks with support facilities and also target industrial light manufacturing clients to set up build to suit manufacturing facility/ready built factories in these parks, he said.

The project will be developed on the outskirts of Gurgaon, on NH-8 or within 10 – 15 kilometers from NH-8. The state government will acquire land and provide necessary approvals for the projects, apart from providing incentives to ensure their sustainability.

Though the warehousing sector has been largely unorganized and fragmented, the demand for modern warehouse infrastructure has seen a surge in recent times. Rapid growth of retail, manufacturing and related industry segments coupled with an influx of investment will only push this sector to new heights, the release further added.

Warburg Pincus to Invest INR 1800cr in Piramal Realty

Piramal Realty, the Mumbai-based real estate development arm of Piramal Group, has  announced that the company is poised to receive a funding of INR 1800 crore from the leading global private equity fund Warburg Pincus which will seek minority stake in the company.

Commenting on the transaction, Anand Piramal, Piramal Group's Executive Director, said, "We are proud to partner with one of the world's leading private equity firms to build India's most admired real estate company, admired not just for its scale and profitability,

Niten Malhan, Co-Head of India, Warburg Pincus stated, "Warburg Pincus invests in companies with high growth potential and believes that Piramal Realty is best positioned to achieve leadership in one of the world's most attractive real estate markets. Piramal Group's strengths such as its strong values, its track record of creating long term value for stakeholders, its trusted brand, its ability to recruit great people, its emphasis on customer centricity and its reputation as strong deal makers are some of the reasons why the firm chose to invest in Piramal Realty."

Ajay Piramal, Chairman, Piramal Group added, "We are delighted to partner with Warburg Pincus for a second time: the first was when they invested in Piramal Healthcare in 1997, and now with Piramal Realty. Warburg Pincus' investment and expertise will raise the level of real estate in India to international standards, as it has done in other industries such as telecom, financial services and pharmaceuticals."

Founded in 2011, Piramal Realty has over 10 million square feet under development in prime areas of Byculla, Thane, Worli, BKC and Mulund.

Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than US$35 billion in assets under management. The firm's active portfolio of more than 120 companies is highly diversified by stage, sector and geography.