Hiranandani's Greenbase to Invest ₹2,000 Crore in 5 Million Sq Ft Industrial and Warehousing Space in Chennai
Greenbase Industrial and Logistics Park, the industrial arm of the Hiranandani Group, plans to invest ₹2,000 crore to develop five million square feet of Grade-A industrial and warehousing space in Chennai. The company expects to complete the build-out over the next two to three years, positioning the facilities to serve rising demand from electric vehicle, electronics and renewable energy manufacturers.
A key component of the plan is a 55-acre site at Arani, located about 30 km from Kattupalli port, chosen for its port proximity and suitability for large-scale industrial tenants. Greenbase has already secured 215 acres of a 430-acre land target in and around Chennai, with an additional 140 acres currently under acquisition.
The Chennai investment forms the largest component of a broader pan-India initiative called Greenbase 2.0, under which the company plans to develop 9 to 10 million square feet of industrial and logistics space nationally at a total capital outlay of ₹3,400 crore. Chennai accounts for more than half of this national pipeline. Beyond Chennai, Greenbase is also evaluating expansion opportunities in Coimbatore, Thoothukudi and Hosur.
The expansion marks a shift in the company's funding approach, moving toward fully group-funded industrial infrastructure development. Greenbase had earlier built its Chennai portfolio through a joint venture with global private equity firm Blackstone. The company is also exploring longer-term growth opportunities in emerging segments such as defence electronics manufacturing.