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The Wire
6 hours ago
- Business
- The Wire
Industrial & warehousing demand at all-time high; Delhi-NCR, Chennai, Mumbai & Bengaluru saw at least 2 mn sq ft of space uptake in H1 2025: Colliers
• H1 2025 Grade A industrial & warehousing demand around 20 mn sq ft, rises YoY by 33% • Delhi NCR and Chennai dominate leasing, collectively driving around half of the demand in H1 2025 • 3PL firms drive almost one-third of the demand in H1 2025, followed by engineering and e-commerce segments • New supply closely follows demand with about 19 mn sq ft of completions during H1 2025 BENGALURU, India, July 21, 2025 /PRNewswire/ -- With about 20 mn sq ft of leasing activity in H1 2025 at 33% YoY growth, industrial & warehousing demand across the top eight cities remained robust. Delhi NCR and Chennai led the demand, cumulatively accounting for about half of the overall leasing in H1 2025. Interestingly among the top eight cities, Delhi NCR, Chennai, Mumbai and Bengaluru saw impressive demand of at least 2 mn sq ft during the first half of the year. Third Party Logistics (3PL) players continued to be the primary drivers of space uptake in Grade A warehouses & industrial sheds, contributing to about 32% share in overall demand during the first half of the year. In fact, demand from most occupier segments including 3PL, engineering, e-commerce, automobile, and retail firms rose significantly during H1 2025. Meanwhile, at the micro market level, warehousing space uptake was the highest in Bhiwandi (Mumbai) at 3.1 mn sq ft followed by Oragadam (Chennai) at 1.5 mn sq ft. Trends in Grade A Gross absorption (mn sq ft) City Q2 2025 Q2 2024 YoY change H1 2025 H1 2024 YoY change Ahmedabad 0.6 0.3 100 % 1.2 0.6 100 % Bengaluru 1.2 1.2 0 % 2.0 1.7 18 % Chennai 1.7 1.3 31 % 3.7 3.2 16 % Delhi NCR 2.5 1.8 39 % 5.6 3.2 75 % Hyderabad 0.8 0.3 167 % 1.1 0.5 120 % Kolkata 0.5 0.4 25 % 1.0 0.7 43 % Mumbai 2.1 0.6 250 % 3.1 2.5 24 % Pune 1.1 1.0 10 % 1.8 2.3 -22 % TOTAL 10.5 6.9 52 % 19.5 14.7 33 % Source: Colliers Note: Data pertains to Grade A buildings. Absorption does not include lease renewals, pre-commitments and deals where only a Letter of Intent has been signed. "During the second quarter of 2025, industrial & warehousing sector saw about 11 mn sq ft of demand across the top eight cities, a 52% rise YoY. Notably, Q2 recorded the highest quarterly gross absorption in the last few years. Delhi NCR drove around one-fourth of the quarterly demand at 2.5 mn sq ft of Grade A space uptake. The demand in the region was led by large space uptake in Farukhnagar and Kulana micro markets. In fact, cities like Delhi NCR, Mumbai and Chennai, with 60% demand share in Q2 2025, continued to drive industrial & warehousing sector in India. The growth momentum is likely to remain unabated in the forthcoming quarters, setting the stage for a strong performance in 2025," says Vijay Ganesh,Managing Director, Industrial & Logistics Services, Colliers India. 3PL continues to dominate demand in H1 2025; leasing by other segments on the rise During the first half of 2025, 3PL players continued to dominate demand, accounting for around one-third of the leasing activity. Concurrently, space uptake by other occupier segments such as engineering, e-commerce and automobile were also notable, with each segment accounting for 2-4 mn sq ft of space take up, during H1 2025. "The industrial & warehousing sector witnessed strong space uptake in the first half of 2025 with around 20 mn sq ft of leasing, driven by robust demand across a diverse range of occupier segments. While 3PL players continue to lead overall demand, engineering, e-commerce and automobiles, segments have been steadily gaining traction over the last few quarters. Each of these three segments accounted for around 10-20% of the Grade A space uptake in H1 2025. This heterogeneity of demand reflects the sector's resilience and aligns with the broad-based growth prospects in the domestic economy. It also sets a strong foundation for continued growth in industrial & warehousing sector through the rest of 2025, " says Vimal Nadar, National Director & Head of Research, Colliers India. Large sized deals account for 51% of gross leasing across the top 8 cities During H1 2025, large deals (>200,000 sq ft) accounted for about half of the demand. Although a vast majority of these larger deals came from 3PL players, e-commerce and engineering segments too continued to witness large warehousing space requirements. At the city level, Delhi NCR followed by Mumbai dominated large-sized deals during H1 2025. New supply also remains strong in H1 2025, rises by 11% on an annual basis The first six months of 2025 saw a new supply to the tune of 19 mn sq ft, an 11% YoY rise. The new supply was almost in line with the strong leasing activity during H1 2025, indicating improved developer confidence in the industrial & warehousing market. Taking cognizance of healthy demand across major cities and business environment, developers have been infusing high quality warehousing facilities replete with technologically advanced features. Moreover, in line with demand trends, Delhi NCR and Chennai accounted for the bulk of new supply during H1 2025. These two cities cumulatively contributed close to half of the new supply across the top eight cities of the country. Notably, Q2 2025 witnessed 10 mn sq ft of completions in top eight cities of the country, an 8% YoY rise. Q2 2025 also marked the highest quarterly supply infusion over the last few quarters. Upcoming quarters are also likely to witness significant influx of Grade A supply, with new supply expected to reach about 35-40 mn sq ft by the end of the year. Trends in Grade A Supply (mn sq ft) City Q2 2025 Q2 2024 YoY change H1 2025 H1 2024 YoY Change Ahmedabad 0.6 0.7 -14 % 1.1 1.0 10 % Bengaluru 0.6 0.6 0 % 1.5 2.0 -25 % Chennai 1.5 1.4 7 % 3.5 2.7 30 % Delhi NCR 3.7 3.4 9 % 6.2 5.7 9 % Hyderabad 0.7 0.1 600 % 0.9 0.7 29 % Kolkata 0.8 1.0 -20 % 1.3 1.3 0 % Mumbai 1.5 0.5 200 % 3.4 1.5 127 % Pune 0.6 1.6 -63 % 1.5 2.5 -40 % TOTAL 10.0 9.3 8 % 19.4 17.4 11 % Source: Colliers Note: Data pertains to Grade A buildings Overall vacancy levels remained stable on a sequential basis and stood at 13.5% at the end of H1 2025. Meanwhile, amidst healthy demand and high-quality supply infusion, rentals in key micro markets saw a notable uptick. Media Contact: Sukanya Dasgupta National Director, Marketing & Communications| India 91 9811867682 About Colliers Colliers (NASDAQ: CIGI) (TSX: CIGI) is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy and investment management. With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients. For nearly 30 years, our experienced leadership – with substantial inside ownership – has consistently delivered approximately 20% compound annual investment returns for shareholders. With annual revenues exceeding $4.5 billion and $99 billion of assets under management, Colliers maximizes the potential of property, infrastructure and real assets to accelerate the success of our clients, investors and people. Learn more at Twitter @Colliers or LinkedIn or YouTube. Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
Business Upturn
3 days ago
- Business
- Business Upturn
B.L. Kashyap and Sons bags Rs 157 crore order for Embassy Manyata Business Park project
By Aditya Bhagchandani Published on July 18, 2025, 17:16 IST B.L. Kashyap and Sons Limited announced on Friday, July 18, that it has secured a new work order worth ₹157.26 crore (excluding GST) from Manyata Promoters Private Limited. The contract is for civil and structural works of the Embassy Manyata Business Park office building project. According to the company's regulatory filing to the BSE and NSE, the Letter of Intent (LOI) was received on July 18, 2025, at 11:00 AM. The project is expected to be completed within approximately 16 months. The order is purely domestic, with no involvement of related party transactions or promoter group interests. This new win further strengthens B.L. Kashyap's portfolio in executing large-scale commercial projects in India. The company stated that the work includes significant civil and structural works for the office building within the prominent Embassy Manyata Business Park in Bengaluru. Investors and stakeholders may take note of this development as part of the company's ongoing growth strategy in the domestic construction and infrastructure sector. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Express Tribune
4 days ago
- Business
- Express Tribune
Pakistan, El Salvador sign ‘letter of intent' on Bitcoin cooperation
Minister of State for Crypto and Blockchain Bilal Bin Saqib and Director of El Salvador's National Bitcoin Office Stacy Herbert sign the Letter of Intent (LoI) on Wednesday. Photo: Courtesy X Listen to article Pakistan and El Salvador have agreed to establish formal cooperation on Bitcoin and blockchain initiatives, following a high-level meeting between Minister of State for Crypto and Blockchain Bilal Bin Saqib and Salvadoran President Nayib Bukele in San Salvador. The engagement, described as the first official meeting between the Miinster of State and the Salvadoran head of state, culminated in the signing of a Letter of Intent (LoI) between the Bitcoin Office of El Salvador and the Pakistan Crypto Council. The agreement aims to facilitate technical cooperation and knowledge exchange in key areas such as public sector applications of Bitcoin, blockchain-based financial inclusion, sovereign digital asset reserves, and regulatory innovation in emerging economies. 🇸🇻🤝🇵🇰 The Bitcoin Office signed a Letter of Intent with the Pakistan Crypto Council yesterday: "The purpose of the LOI is to outline the mutual intention of the Parties to explore and establish a strategic collaboration in the fields of Bitcoin education, Bitcoin mining,… — The Bitcoin Office (@bitcoinofficesv) July 17, 2025 According to a press release issued by the Ministry of Finance, the meeting centred exclusively on digital asset collaboration and was seen as a landmark in what officials termed 'Biplomacy' — a blend of Bitcoin and diplomacy reflecting the growing role of decentralized technologies in international engagement. 'El Salvador's bold Bitcoin experiment has inspired governments around the world,' said Bilal Bin Saqib, who also heads the Pakistan Crypto Council. 'This visit marks the beginning of a strategic relationship rooted in innovation, inclusion, and shared learning.' President Bukele welcomed Pakistan's outreach, commending its forward-looking approach to digital assets and reaffirming El Salvador's support for emerging economies exploring Bitcoin as a tool for financial sovereignty. El Salvador, which made headlines in 2021 as the first country to adopt Bitcoin as legal tender, has become a focal point for nations assessing digital currencies to expand financial access and reduce reliance on traditional monetary systems. Just met one of the most extraordinary visionary leaders of our time, President of El Salvador, @nayibbukele A head of state who doesn't just talk tech, but challenges it, from AI and robotics to Bitcoin. He's a leader from the future, who saw the future first because when it… — Bilal bin Saqib MBE (@Bilalbinsaqib) July 16, 2025 Pakistan is similarly working to establish a structured digital asset economy. Earlier this year, the government created the Pakistan Virtual Assets Regulatory Authority (PVARA) via presidential ordinance to regulate the crypto sector, curb illicit finance, and promote responsible innovation. The State Bank of Pakistan also announced plans to complete a pilot project for a central bank digital currency (CBDC) within the current fiscal year. Officials believe the Pakistan–El Salvador agreement will help advance policy dialogue on sovereign digital asset frameworks, encourage public-private collaboration, and position Pakistan as a serious participant in global crypto governance. Financial analysts estimate that ongoing reforms, including the integration of virtual assets into the formal economy, could bring up to $25 billion into the country's tax net.
USA Today
5 days ago
- Sport
- USA Today
Florida Gators coach provides details on 5-star WR Dallas Wilson's flip from Oregon Ducks
Less than a year ago, Oregon Duck fans were popping champagne after Dan Lanning and Junior Adams signed what was quite possibly the best combination of wide receivers in program history, inking both 5-star Dakorien Moore and 4-star Dallas Wilson as members of the 2025 recruiting class. Moore ranked as the No. 1 WR and No. 4 player in the nation, while Wilson came in as the No. 8 WR and No. 35 player in the country. The two put pen to paper on National Signing Day and were coming to Eugene. For a couple of weeks. On December 19, Wilson officially requested a release from his Letter of Intent with Oregon to sign with the Florida Gators, which is near his hometown. The request was granted, and Wilson ended up as a member of Florida's 2025 signing class, rather than Oregon's. Now, with fall camp just a couple of weeks away, Florida coach Billy Napier opened up about the events that landed Wilson in Gainesville at SEC Media Days, explaining that it was the player who reached out to the team, rather than the other way around. "Dallas actually contacted us," Napier said. "He asked out of his LOI and contacted us... There's no question he's going to make our team better." According to a report from The Athletic, Wilson asked out of his LOI to be closer to a sick family member back home in Florida. 'It's not about money,' Wilson's agent Vernell Brown said. 'It's about the kid wanting to be closer to an ailing family member. I think anybody can understand that.' Since flipping from Oregon, Wilson has been a revelation for the Gators, cementing himself as one of the most dynamic freshman receivers in the nation and generating a ton of buzz in The Swamp during Florida's spring game. In the Blue and Orange game, Wilson stole the show with 10 catches for 195 yards and two touchdowns. He was later tabbed as Florida's top newcomer of the season. While Wilson is flourishing in Florida, it's clear that Oregon has a rising star in Eugene as well, with Dakorien Moore, who is projected to be one of the top pass-catchers on the team in the wake of Evan Stewart's injury. Contact/Follow @Ducks_Wire on X (formerly Twitter) and like our page on Facebook to follow ongoing coverage of Oregon Ducks news, notes, and opinions.
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Business Standard
5 days ago
- Business
- Business Standard
University of Southampton first to set up full Indian campus in Gurugram
The University of Southampton, based in the United Kingdom, officially inaugurated its campus in Gurugram on Wednesday, becoming the first foreign university to establish a fully operational campus in India under the University Grants Commission (UGC) regulations. The launch event was attended by Union Education Minister Dharmendra Pradhan and Haryana Chief Minister Nayab Singh Saini, who both welcomed the development as a key moment in India's higher education reforms, according to a report by the Press Trust of India. The university had received a Letter of Intent (LoI) last year, following the UGC's guidelines for foreign higher education institutions setting up campuses in India. "This marks a momentous milestone towards internationalisation of education at home under NEP 2020, and also towards strengthening the education pillar of India-UK cooperation as envisioned in the India-UK Roadmap 2030," said Pradhan. He also praised the swift establishment of the campus, noting that it was built within a year of receiving the LoI. "University of Southampton has set up this state-of-the-art campus within a year of receiving the LoI. I am confident that the campus, with its basket of forward-looking courses and Southampton's legacy of academic excellence, will emerge as a distinguished institution shaping leaders of tomorrow," he added. Focus on STEM and global problem-solving Pradhan encouraged the university's leadership to introduce STEM (Science, Technology, Engineering, and Mathematics) courses at the Gurugram campus and said it should serve as a centre for addressing global challenges. "Education has been placed at the heart of India's development. Through the internationalisation of education at home, India is being envisioned as a global knowledge destination, reviving its civilisational legacy and reigniting its intellectual heritage from Pushpagiri and Nalanda to Gurugram," he said. "I invite other leading universities across the world to come to India for co-creating ecosystems of innovation, research and education," Pradhan added. Courses and global opportunities for students The Gurugram campus will provide undergraduate and postgraduate degrees that align with UK academic standards. Students will also have the opportunity to spend up to one year at the University of Southampton's campuses in the UK or Malaysia. From 2025, the campus will offer BSc programmes in Computer Science, Economics, Accounting & Finance, and Business Management. It will also provide MSc courses in Finance and International Management. Support from Haryana and UGC CM Saini expressed his support for the initiative and reiterated the state's commitment to developing Gurugram as a hub for global education and innovation. "NEP 2020 positions India as a global hub for education, research, and innovation," he said, while Higher Education Secretary Vineet Joshi added, "I am confident that the University of Southampton, with its legacy of academic excellence, will offer quality education in critical areas like Computer Science, Economics, International Business, and Management, contributing to India's priorities in digital innovation and global leadership." Joshi also highlighted the UGC's streamlined process for enabling such partnerships and noted that the new campus would strengthen ties between Indian and global academic communities. Diverse student body and global faculty The first intake at the Indian campus includes high-performing students from across India and countries such as the UAE and Nepal. The university plans to recruit more than 75 full-time faculty members, all of whom will meet UK academic benchmarks and undergo the University's Postgraduate Certificate in Academic Practice. These educators bring experience from countries including the UK, UAE, Malaysia, Singapore, Australia, Germany, Japan, and the United States. The University of Southampton boasts a global alumni network of over 290,000, including more than 1,700 from India. Many alumni are expected to support the new campus by acting as mentors and industry liaisons.
