Hiranandani Group's logistics arm, Greenbase, has announced a ₹2,000 crore investment to develop five million square feet of Grade-A industrial space in Chennai. The project aims to capture rising demand from the EV, electronics, and renewable energy manufacturing sectors. This is part of a larger ₹3,400 crore national expansion plan, signaling a shift toward fully group-funded industrial infrastructure development.
Greenbase Industrial & Logistics Park, the industrial platform of the Hiranandani Group, is expanding its footprint in Chennai with a capital commitment of ₹2,000 crore. The company plans to use this money over the next two to three years to build five million square feet of industrial and warehousing space. A primary focus of this expansion is a 55-acre site in Arani, which is situated about 30 kilometers from the Katuppali port, a key logistics hub for the region.
This project is part of a broader expansion strategy known as Greenbase 2.0. Under this initiative, the firm intends to develop 9 to 10 million square feet of space across India with a total capital spending of ₹3,400 crore. Chennai serves as a critical node, accounting for over half of this pipeline. The company has already secured 215 acres of land out of its 430-acre target, with an additional 140 acres currently under acquisition across other Chennai-adjacent areas. Beyond Chennai, the group is exploring opportunities in Coimbatore, Thoothukudi, and Hosur to support its long-term growth.
Market demand for modern warehousing has been increasing as manufacturing companies move toward higher-specification facilities. This trend is driven by the growth of the renewable energy sector, automotive component makers, and the electric vehicle battery industry. By focusing on safety standards and proximity to major port infrastructure, Greenbase is aiming to attract large domestic and international tenants. The company is also looking at future growth from emerging segments like defense electronics and semiconductor-related manufacturing.
While the first phase of Greenbase projects involved a joint venture with Blackstone Inc., this 2.0 rollout is fully supported by the Hiranandani Group. This shift suggests a change in the company’s capital allocation and operational control strategy. For investors and industry watchers, the move highlights the ongoing demand for professional, Grade-A industrial space in India, though the success of such large projects depends heavily on construction timelines, interest rates, and the ability to secure long-term tenants in a competitive real estate market.
Investors may monitor the project’s execution, including construction milestones and leasing updates, as the company builds out its capacity. Future updates on land acquisition in other Tamil Nadu regions and leasing agreements with major manufacturing clients will be key indicators of demand for these new facilities.