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Adani Logistics Ltd has leased a 66,250 sq ft warehouse near Panvel, Mumbai, to Avenue Supermarts Ltd, the company behind the DMart retail chain. The lease is structured over approximately 28 years, valued at over INR 100 crore, with a six-year lock-in period. Monthly rent starts at around INR 20.20 lakh and increases gradually over time. The facility, with a carpet area of about 53,000 sq ft, will support DMart's storage and distribution of groceries, electronics, apparel, and other retail products, strengthening its supply chain in the Mumbai Metropolitan Region.
Adani Logistics Ltd, the logistics and warehousing arm of the Adani Group, has signed a long-term lease agreement with Avenue Supermarts Ltd, which operates DMart, for a warehouse located in Dharna Camp, Raigad district, near Panvel on Mumbai's outskirts. The agreement spans close to 28 years and is expected to generate over INR 100 crore in total rental income. Property records indicate that the lease includes a six-year lock-in period, ensuring stability for both parties. Advertisement
The leased warehouse has a built-up area of 66,250 sq ft, with a carpet area of roughly 53,000 sq ft, and is situated on a plot measuring approximately 55,697 sq m. Under the lease, DMart will pay an initial monthly rent of around INR 20.20 lakh, along with a security deposit of INR 1.21 crore. The rent is designed to increase by about 12% every three years, reaching over INR 56 lakh per month by the final years of the contract.
The facility will serve as a key hub for DMart's storage and distribution operations, handling a wide range of products including groceries, consumer goods, electronics, and apparel. This move aligns with DMart's strategy to strengthen its supply chain infrastructure in the Mumbai Metropolitan Region, a major consumption market.
The Panvel-Raigad area has become a prominent logistics and industrial hub due to its proximity to Jawaharlal Nehru Port, major expressways, and enhanced multimodal transport links. The upcoming Navi Mumbai International Airport and other infrastructure developments are expected to further boost demand for large-scale warehousing, making the location attractive to organised retailers, e-commerce companies, and third-party logistics operators.
Industry reports show that logistics and industrial real estate has been expanding steadily, with warehouse absorption in the region growing year-on-year. For Adani Logistics, this lease enhances its portfolio of strategically located assets, ensuring long-term revenue from a reliable tenant, while DMart secures space for efficient distribution to meet rising consumer demand in and around Mumbai.
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