Warehousing developer Pragati Group raises $200mn from Singapore based fund
/ -- NCR-based Industrial and Logistics real estate developer Pragati Group, has raised $200 Million of equity capital from a Private Equity fund based in Singapore.
Pragati has been offering customized warehouse development solutions since its inception in 2010 to top MNCs like Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin, and many more.
The Singapore based fund has committed to invest $200 Million with Pragati Group towards development of industrial and logistics real estate assets as per the deal signed in Q3 FY 2022. Part of the deal involved acquisition of 2 international grade operational assets of approx. 2 million sft of GLA in NCR, Pragati One & Pragati Farukhnagar Logistics Parks, providing successful exit to the previous financial partner Morgan Stanley. Part of the deal also saw this fund acquire an equity stake in Pragati.
Col. Jitender Yadav, Founder of Pragati Group said, "Pragati's vision is to be one of the top 5 industrial & logistics real estate ...