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Stellar leases 1.1 million square feet of warehouse space with Avigna

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Stellar leases 1.1 million square feet of warehouse space with Avigna

Stellar Value Chain Solutions, a consumer supply chain company, has leased about 1.1 million square feet of warehouse space in Hoskote, Hosur and Vijaywada from Avigna Industrial & Logistics Park, a subsidiary of Chennai-based Avigna Group.

The company has leased 300,000 sq ft in Hosur, more than 500,000 sq ft in Hoskote and another 300,000 sq ft in Vijayawada, strengthening its foothold in the southern part of the country.

“Vijaywada is a new destination, and the warehouse is strategically positioned to serve the entire state as well as neighbouring states. We have benefited from being first to market, and Stellar has remained with us,” said Abhijit Verma, CEO, Avigna Group.

The Chennai-based Avigna Industrial & Logistics Park will invest Rs 500-600 crore in a 4 million sq ft grade A warehousing complex in Hoskote.

The industrial park will be equipped with grade A warehousing to meet the most technologically advanced supply chain management needs. The first 1 million sq ft of the Hoskote Industrial Park will be handed over by Avigna Group in 2022-23.

“We work with Avigna Group as an anchor customer in a number of their logistics parks. Their Hosur Phase 1 Logistics Park is where we have set up shop. We have leased various modern grade A warehouses ranging from 2.5 lakh sq ft to 4 lakh sq ft in Hoskote, Vijayawada and Hosur Phase 2 for the long term,” said Anshuman Singh, chairman, Stellar Value Chain Solutions.

The warehouses are strategically located and have the best quality infrastructure, said Singh. “They will be part of Stellar’s strategy of offering fulfilment and logistics solutions to its customers across various e-commerce, consumer and automotive sectors in the country through modern logistics parks like these,” he said.

In addition, Stellar Value Chain Solutions is in talks to lease warehouse space in Kolkata, Bengaluru, Coimbatore, Visakhapatnam and other tier-2 cities.

It plans to lease 7 million sq ft and invest Rs 350-700 crore in warehouse development.

These facilities, which each covering half a million square feet, are available for storage operations with adjustable capacities and lease terms for businesses of all sizes. The company has selected 21 cities as key production and consumption centres.

Avigna Group is planning a pan-India expansion and is now constructing storage spaces of 3 million sq ft in Hosur, Tamil Nadu, and Hoskote, Karnataka, one million sq ft in Chennai and Nellore, Andhra Pradesh, and 2 million sq ft in Madurai.

Apart from that, Avigna Group intends to expand its presence in Mumbai’s Bhiwandi, Haryana’s Farrukhnagar, Jaipur and Kolkata.

The initiative is part of Avigna Group’s Rs 2,000 crore development plan, which includes a 10 million sq ft warehouse footprint in the next three years.

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