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Pragati Group raises $200 m from Singapore based fund

New Delhi, March 1, 2023: NCR based Industrial and Logistics real estate developer Pragati Group, has raised $200 million of equity capital from a Private Equity fund based in Singapore.

A press release issued by the company says that, the Singapore based fund has committed to invest $200 million with Pragati Group towards development of industrial and logistics real estate assets as per the deal signed in Q3 FY 2022. Part of the deal involved acquisition of 2 international grade operational assets of approx. 2 million sft of GLA in NCR, Pragati One & Pragati Farukhnagar Logistics Parks, providing successful exit to the previous financial partner Morgan Stanley. Part of the deal also saw this fund acquire an equity stake in Pragati.

Col. Jitender Yadav, Founder of Pragati Group said, “Pragati’s vision is to be one of the top 5 industrial & logistics real estate developers in the country by developing a portfolio spanning 30 million sq.ft across key Tier I and Tier II Indian cities with best in class Grade A specifications and with sustainability and ESG at the heart of our business. Pragati has an excellent track record of working with world class companies like Amazon, Flipkart, DHL, Daikin, Bosch etc. and this capital will enable us to expand to other major cities in India.”