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Wednesday, December 6, 2023
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DB Schenker will double warehousing space to 7 mn sq ft in India

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European logistics major D B Schenker will double warehousing space to 7 million square feet in India in three years. A top official has said that after the implementation of GST, the logistic company sees growing demand from the corporate sector for such facilities.

D B Schenker β€˜s country chief executive Vishal Sharma told PTI in an interaction, β€œ we are at 4 million square feet of space under management and will take it to 7 million square feet in three years. From an investments perspective, it will not be a large tab as much of this space will be owned by other developers and will be contracted on a longer-term basis.”

It can be noted that in the last few months, there has been a slew of announcements by realty developers about creating warehousing space. Sharma expressed happiness about getting the necessary space as required.

He said that the company had posted a revenue of above Rs 1,400 crore in 2017-18. It has been growing at rate of 18 per cent in the last three years. He said, β€œThe next three years will see a doubling up of space per centre to 1.50 lakh sq ft as the warehousing activities have become more concentrated aided by GST.”

Vishal Sharma said, β€œThe company will have about 25 warehouses, with 10-12 of them being bigger warehouses. The NCR, West and southern market comprising the Bengaluru-Chennai belt are the clusters which will see a bulk of development of this space.”

 

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