Monday, Apr 29 2024 | Time 23:35 Hrs(IST)
image
Business EconomyPosted at: Apr 16 2024 3:08PM


Industrial, warehousing supply touches 7 million square feet in Q1`

New Delhi, Apr 16 (UNI) On the back of steady leasing, industrial and warehousing supply in January-March (Q1) period of 2024 inched towards 7 million square feet, consultancy firm Colliers India said in a report on Tuesday.
As per the report, Mumbai and Chennai led the demand with about 55% share. Leasing activities in Chennai also remained robust, with industrial & warehousing space take-up in Q1 2024 almost twice the leasing activity in corresponding period of last year.
"Across the top five cities, Bhiwandi in Mumbai with 1.7 million sq ft of Grade A demand, was the most active market for Q1 2024. Bhiwandi was followed by Oragadam in Chennai, which surpassed the leasing activity of Chakan Talegoan in Pune for the first time in a while," the report said.
Third-party logistics players (3PL) continued to be the top occupiers of industrial and warehousing space, contributing to over 40% in the total warehousing demand. 3PL space uptake was driven by healthy activity in Chennai particularly. The city accounted for about 43% of the overall 3PL activity in the top five cities.
Interestingly, at the pan-India level, retail players accounted for 16% of the demand during the quarter, followed by engineering and automobile players with 12% share each.
“While 3PL players continued to drive industrial & warehousing leasing activity, demand from retail, engineering and automobile players too accounted for a significant share in Q1 2024. It is noteworthy to see that the cumulative share of these three sectors have risen from 26% in Q1 2023 to 40% in Q1 2024. This signifies changing consumption patterns and hints at opportunities emerging in the sector from the steady demand diversification.” said Vijay Ganesh, Managing Director, Industrial & Logistics Services, Colliers India.
UNI NK CS
Please log in to get detailed story.
Tags: #Industrial# warehousing supply touches 7 million square feet in Q1`
More News
Prashanth Nandella elected as president of HYSEA

Prashanth Nandella elected as president of HYSEA

29 Apr 2024 | 8:52 PM

Hyderabad, April 29 (UNI) Prashanth Nandella, Chief Operating Officer, Firstsource has been elected as the President of Hyderabad Software Enterprises Association (HYSEA), at the 32nd Annual General Body meeting, for the term 2024-26.

see more..

Mahindra launches XUV 3XO

29 Apr 2024 | 7:17 PM

Mumbai, April 29 (UNI) Mahindra & Mahindra Ltd., India's leading SUV manufacturer, on Monday launched the XUV 3XO.

see more..

Coromandel begins project work for Rs 1,000 cr Phosphoric, Sulphuric Acid plants in AP

29 Apr 2024 | 7:06 PM

Chennai, Apr 29 (UNI) Coromandel International Limited, India’s leading agri solutions provider,
has commenced the project activity to set up its Phosphoric Acid-Sulphuric Acid complex facility
at Kakinada in Andhra Pradesh.

see more..

29 Apr 2024 | 7:05 PM

New Delhi, April 29 (UNI) KPIT Technologies, an independent software integration partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, on Monday announced about 5.8 per cent jump in net profit at Rs 164.4 crore during Q4 (January-March) period of financial year 2023-24.

see more..

29 Apr 2024 | 6:46 PM

New Delhi, April 29 (UNI) Non-banking finance company Poonawala Fincorp on Monday said it has registered a 25 per cent jump in net profit at Rs 332 crore during Q4 (January-March) of FY 2023-24.

see more..
image