In 2016, US private equity firm Warburg Pincus had invested $125 million in the company and bought a majority stake. The company is looking at a top line of Rs 700 crore in the current financial year and touch revenues of Rs 1,400 crore by 2020-21 financial year, Singh said. “We will be the fastest Rs 1,000-crore supply chain company in the country.”
In transportation vertical, it has 1,600 trucks, including 300-owned trucks in cold chain. Stellar acquired Patel Roadways in April this year for an undisclosed amount, and bought Kelvin Cold Chain Logistics and Innovative Logistics Services earlier.
According to a recent report by property consultant JLL, the annual demand of around 32 million sq ft for logistics and warehousing spaces has outstripped the supply of 31 million sq ft witnessed for the first time in the last four years.
With January-March period of 2019 has witnessed 8.4 million sq ft of absorption, it is expected to clock about 38 million sq ft by the end of year. With high demand, lease transactions have remained high, it added.
Alongside the rise in transactions, the share of Grade A spaces leases have also gone up in the past four years, it said. Of 32 million sq ft of industrial and logistics leases in 2018, 56 per cent were concluded in Grade A spaces.