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Logicap, backed by Alta Capital, acquires three metro warehouses from Xander for 2,000 crore, becoming Indias third-largest warehousing operator
In a headline‑making move on September 8 2026, Logicap—Alta Capital’s logistics arm—closed a ₹2,000‑crore deal that will make it the third‑largest warehousing operator in India.
The transaction sees Logicap purchase warehouse assets in Chennai, Kolkata and Bhiwandi from Singapore‑based Xander Investment Management. The three sites together bring roughly 2.6 million sq ft of space to Logicap’s portfolio, a figure that matches the company’s earlier ₹1,500 crore acquisition of Chennai and Kolkata assets.
“These purchases fit our strategy of blending greenfield development with institutional acquisitions to sharpen portfolio quality and broaden tenant reach,” said Chief Investment Officer Abhay Goyal. The Bhiwandi warehouse, situated near Mumbai, will add an additional 1 million sq ft in a second tranche.
With the new holdings, Logicap’s total space now approaches 25 million sq ft, placing it behind Blackstone‑backed Horizon Industrial Parks (60.5 million sq ft) and IndoSpace (58 million sq ft). Its original assets include a 1.9 million sq ft logistics park in a Chennai free‑trade zone that offers duty deferments and tax benefits, and a site in Bagnan near Kolkata that serves eastern consumption corridors. Both sites are fully let to blue‑chip tenants such as DHL Supply Chain, DB Schenker and Flipkart Internet Pvt.
Xander’s exit from India’s warehouse market marks the end of a venture that began in 2019 with a $250 million industrial investment. The Singapore firm also owns office and retail assets in the country, though a Xander representative declined to comment on the sale.
Alta Capital, founded in 2021 by former Blackstone executive Siddhartha Gupta, maintains a diversified real‑asset portfolio that includes flexible workspace provider Tablespace, student‑housing firm Elevate Campuses Ltd., high‑end residential developer Isprava, data centres and Logicap. The firm has been a noted buyer of Xander’s logistics assets, as reported by Mint last year.
Logicap’s growth has accelerated through inorganic deals, including an ₹850 crore buyout of 2.5 million sq ft from IndoSpace in 2024. The platform also operates via Pragati Warehousing and EcoBox Industrial Parks.
Institutional capital continues to flow into India’s logistics sector, driven by rapid growth in third‑party logistics, e‑commerce, quick‑commerce and supply‑chain near‑shoring. Government initiatives such as the National Logistics Policy are encouraging the development of institutional‑grade facilities and attracting multinational tenants.
Industry analysts project the logistics sector to reach $540 billion by 2030. Modern warehousing stock topped 610 million sq ft in 2025, with institutional Grade A facilities comprising 38 % of the total, according to JLL India. Total inventory is expected to reach 850 million sq ft by 2030.
The acquisition positions Logicap to capture a larger share of the growing demand for high‑quality warehousing in India’s major metros. While the company has not yet disclosed how the deal will affect its upcoming earnings, the expansion aligns with Logicap’s stated objective of blending greenfield development with targeted acquisitions.
As Logicap moves forward, investors will likely watch the company’s next quarterly report for updates on the integration of the new assets and any impact on its revenue and occupancy rates. The deal also underscores the continued interest of private‑equity‑backed platforms in India’s logistics real‑estate market.
The transaction sees Logicap purchase warehouse assets in Chennai, Kolkata and Bhiwandi from Singapore‑based Xander Investment Management. The three sites together bring roughly 2.6 million sq ft of space to Logicap’s portfolio, a figure that matches the company’s earlier ₹1,500 crore acquisition of Chennai and Kolkata assets.
“These purchases fit our strategy of blending greenfield development with institutional acquisitions to sharpen portfolio quality and broaden tenant reach,” said Chief Investment Officer Abhay Goyal. The Bhiwandi warehouse, situated near Mumbai, will add an additional 1 million sq ft in a second tranche.
With the new holdings, Logicap’s total space now approaches 25 million sq ft, placing it behind Blackstone‑backed Horizon Industrial Parks (60.5 million sq ft) and IndoSpace (58 million sq ft). Its original assets include a 1.9 million sq ft logistics park in a Chennai free‑trade zone that offers duty deferments and tax benefits, and a site in Bagnan near Kolkata that serves eastern consumption corridors. Both sites are fully let to blue‑chip tenants such as DHL Supply Chain, DB Schenker and Flipkart Internet Pvt.
Xander’s exit from India’s warehouse market marks the end of a venture that began in 2019 with a $250 million industrial investment. The Singapore firm also owns office and retail assets in the country, though a Xander representative declined to comment on the sale.
Alta Capital, founded in 2021 by former Blackstone executive Siddhartha Gupta, maintains a diversified real‑asset portfolio that includes flexible workspace provider Tablespace, student‑housing firm Elevate Campuses Ltd., high‑end residential developer Isprava, data centres and Logicap. The firm has been a noted buyer of Xander’s logistics assets, as reported by Mint last year.
Logicap’s growth has accelerated through inorganic deals, including an ₹850 crore buyout of 2.5 million sq ft from IndoSpace in 2024. The platform also operates via Pragati Warehousing and EcoBox Industrial Parks.
Institutional capital continues to flow into India’s logistics sector, driven by rapid growth in third‑party logistics, e‑commerce, quick‑commerce and supply‑chain near‑shoring. Government initiatives such as the National Logistics Policy are encouraging the development of institutional‑grade facilities and attracting multinational tenants.
Industry analysts project the logistics sector to reach $540 billion by 2030. Modern warehousing stock topped 610 million sq ft in 2025, with institutional Grade A facilities comprising 38 % of the total, according to JLL India. Total inventory is expected to reach 850 million sq ft by 2030.
The acquisition positions Logicap to capture a larger share of the growing demand for high‑quality warehousing in India’s major metros. While the company has not yet disclosed how the deal will affect its upcoming earnings, the expansion aligns with Logicap’s stated objective of blending greenfield development with targeted acquisitions.
As Logicap moves forward, investors will likely watch the company’s next quarterly report for updates on the integration of the new assets and any impact on its revenue and occupancy rates. The deal also underscores the continued interest of private‑equity‑backed platforms in India’s logistics real‑estate market.
