warehousing segment witnessed about half of the total inflows in the first half of 2024. Interestingly, institutional investments in the segment for H1 2024 is almost twice the inflows in the entirety of 2023. With India's Manufacturing Purchasing Managers' (PMI) Index staying close to 60.0 in the last few months, investor confidence in the industrial & warehousing segment is likely to remain strong in throughout 2024. Furthermore, strategic infrastructure projects such as Dedicated Freight Corridors (DFCs) & Bharatmala and robust government policies such as National Logistics Policy, underscore substantial long-term growth opportunities for the industrial & warehousing segment in India,” said Vimal Nadar, Senior Director and Head of Research, Colliers India.
Bengaluru and Delhi NCR together drove about 23% of the quarterly inflows
While at 72% share, multi-city deals continued to drive majority of the investment inflows during Q2 2024, Bengaluru and Delhi NCR together corresponded to about 23% of the total inflows during the quarter driven by foreign investments. About 56% of the quarterly inflows in Bengaluru were directed towards residential assets, followed by the office segment. Investments in the office segment were particularly strong in Delhi-NCR. Led by inflows into the office segment, Delhi NCR witnessed about 86% YoY rise in investment inflows during Q2 2024.
City wise investment inflows in Q2 2024 –
City | Q2 2023 | Q2 2024 | Investment share in Q2 2024 (%) | Q2 2024 vs Q2 2023 (%) | H1 2023 | H1 2024 | Investment share H1 2024 (%) | H1 2024 vs H1 2023 (%) |
Bengaluru | - | 408.8 | 16% | - | 196.6 | 612.0 | 17% | 211% |
Chennai | 85.4 | 33.1 | 1% | -61% | 85.4 | 154.1 | 4% | 80% |
Delhi NCR | 86.7 | 161.6 | 7% | 86% | 467.7 | 190.8 | 5% | -59% |
Hyderabad | 127.3 | 43.0 | 2% | -66% | 127.4 | 300.9 | 9% | 136% |
Mumbai | 348.4 | 60.6 | 2% | -83% | 389.1 | 91.3 | 3% | -77% |
Pune | - | 4.3 | 0.2% | - | - | 258.3 | 7% | - |
Others/ Multi City | 1,458.6 | 1,817.1 | 71.8% | 25% | 2,498.5 | 1,916.2 | 55% | -23% |
Total | 2,106.4 | 2,528.5 | 100% | 20% | 3,764.7 | 3523.6 | 100% | -6% |
Source: Colliers
Select PE deals in Q2 2024 –
Investor | Investee | Deal Value (in USD million) | City | Asset class |
ADIA, KKR | Reliance retail ventures Ltd | 1,500 | Others/Multi-city | Industrial & warehousing |
Mapletree | Adarsh Developers | 229.0 | Bengaluru | Residential |
Edelweiss Alternatives managed fund | MMTP Projects | 180.0 | Bengaluru | Office |
Source: Colliers
No comments:
Post a Comment