Macrotech buys 2 firms to bolster logistics park, warehouse vertical
The company acquired Opexefi Services for ₹47 crore and One Box Warehouse for ₹49 crore.
The real estate firm Macrotech Developers (formerly Lodha Developers) has announced the acquisition of Opexefi Services and One Box Warehouse.
The company acquired Opexefi Services for ₹47 crore and One Box Warehouse for ₹49 crore.
“Through the acquisition of 100% equity in both entities, Macrotech Developers aims to strengthen its logistics park and warehouse development vertical, enhancing its capabilities in the sector,” reads the release.
In its stock filling to BSE, Macrotech Developers informed that both Opexefi, incorporated on December 06, 2018, and One Box, incorporated on October 06, 2023, are in the business of development of logistics parks and warehouses and the total turnover for last 3 years and one year respectively is ₹ NIL as there are no business operations conducted.
In May 2022, the real estate developer Lodha Industrial & Logistics Park announced a partnership with Bain Capital and Ivanhoé Cambridge to set up a next-generation green digital infrastructure platform that will invest $1 billion for developing digital infrastructure that includes logistics and light industrial parks as well as in-city fulfilment centres across the country.
The Lodha Group AGM presentation for the financial year 2023-24 notes that they have three ongoing locations with 5.5 MSF (1,000 sq ft) leasable area and are likely to scale to 5 locations in FY25.
In December 2023, Lodha delivered the first phase of a 6 lakh+ sq. ft. warehouse to the apparel brand Skechers, within their larger strategic partnership to develop a 1.1 million-sq.- ft.-facility in Palava.
The Group is also developing Lodha Logistics Park, located in Kurla, as a facility that optimises in-city distribution to follow a quick commerce model of doing business. Lodha Green Digital Infrastructure (LGDI) acquired an over 8-acre land parcel in Mumbai’s Kurla in December 2022.