The International Finance Corporation (IFC), a member of the World Bank Group, has invested ₹225 crore in NDR Smart Spaces, a logistics platform promoted by the NDR Group, to support the development of large-scale warehousing and logistics infrastructure across India. The investment will help build a pipeline of around 20 million sq ft of Grade A warehousing capacity across 14 cities.
Around 8 million sq ft of the planned portfolio is already under construction, indicating that the platform’s expansion is moving beyond the planning stage. NDR Smart Spaces will develop a mix of dry warehouses and temperature-controlled cold-storage facilities, with a particular focus on Tier-II and Tier-III cities in states including Maharashtra, Tamil Nadu and Uttar Pradesh.
The investment comes as India’s logistics landscape undergoes a structural shift. Manufacturing expansion, organised retail, e-commerce and the increasing formalisation of supply chains are creating demand for modern storage facilities closer to consumption centres and emerging industrial clusters. The movement of warehousing activity beyond the traditional metropolitan markets is also opening up a new investment opportunity in locations where land and operating costs can be comparatively lower.
For NDR Smart Spaces, the strategy is to build a geographically diversified portfolio rather than concentrate capacity in established logistics markets. The planned facilities are expected to serve manufacturers, retailers, logistics operators and other businesses requiring professionally managed storage and distribution infrastructure. The inclusion of cold-storage capacity is particularly relevant as India’s food, pharmaceutical and other temperature-sensitive supply chains become more sophisticated.
The scale of the proposed development also reflects the increasing importance of Grade A warehousing in India’s logistics sector. Modern facilities can offer higher storage efficiency, better fire and safety systems, improved loading infrastructure and stronger connectivity to highways and industrial corridors. Such assets are increasingly becoming part of long-term supply-chain planning rather than being treated simply as storage locations.
The project is expected to generate around 24,000 direct jobs, adding an employment dimension to the investment as new facilities are developed and become operational. Beyond direct employment, the expansion of organised logistics infrastructure could support ancillary activity in transportation, material handling, facility management and other supply-chain services.
The latest transaction signals growing institutional interest in India’s logistics real-estate market, particularly in assets positioned to benefit from the country’s expanding manufacturing base and consumption economy. With NDR Smart Spaces targeting 20 million sq ft across a wider geographic footprint, the investment could accelerate the shift towards a more distributed and professionally managed warehousing network across India.
