Casagrand Partners With Blackstone in Rs 700-Crore Deal for

Casagrand, one of South India’s prominent real estate developers, has announced a major strategic partnership with global private equity giant Blackstone to co-develop two industrial and logistics parks in Sriperumbudur near Chennai. Valued at around Rs 700 crore, the project marks a significant expansion of Casagrand’s industrial and warehousing vertical, which has been steadily scaling over the past few years.

The proposed development spans approximately 4.2 million square feet across a 154-acre land parcel in the fast-growing Sriperumbudur industrial belt. Known for its connectivity, thriving manufacturing ecosystem and proximity to Chennai, Sriperumbudur has emerged as a preferred destination for global and domestic industrial players. Casagrand’s partnership with Blackstone aims to capture this surge in demand by offering modern, scalable facilities tailored for sectors such as electronics, automobiles, logistics and specialised manufacturing.

According to Casagrand’s Chairman and Managing Director Arun MN, the collaboration with Blackstone reinforces the company’s long-term vision of retaining and scaling income-yielding industrial assets. He noted that Casagrand has already developed around 5.5 million square feet in the industrial warehousing segment, with several assets previously sold to institutional players such as CapitaLand and Logos. The new partnership signals a strategic shift towards retaining valuable assets while leveraging Blackstone’s capital strength and global expertise.

The upcoming parks have already attracted strong early interest. A notable pre-leasing commitment has come from Eicher Motors, which is set to take up nearly 4 lakh square feet for a dedicated spare parts consolidation facility supporting its Royal Enfield brand. The facilities are expected to be operational within 30 months, offering high-grade infrastructure and integrated logistics capabilities to support large-scale operations.

Casagrand aims to generate 10 to 15 percent of its group revenue from the industrial and logistics segment in the coming years, and this partnership with Blackstone is seen as a crucial step toward that goal. With Chennai strengthening its position as a major industrial hub, the Sriperumbudur project is expected to play a pivotal role in supporting regional economic activity and attracting global manufacturers.