July 19, 2022: ESR, Asia Pacific’s largest real estate asset manager powered by the New Economy, has leased 309,000 sq. ft. of prime warehousing space to Tata Croma, India’s first and trusted Omni-channel electronics retailer from the Tata Group. With Croma’s strong vision to become the no 1. Omnichannel electronics retailer in the country, this facility will help scale their logistics operations and optimise delivery timelines to cater to the North India market, mainly NCR, Haryana, and parts of Uttar Pradesh.
Croma’s distribution centre is within ESR Sohna Logistics Park, a 76.84-acre development strategically located inside the KMP loop and will ease and effectively optimise the last-mile delivery challenges in Delhi and neighbouring regions. The park has congestion-free access to Delhi, Gurugram and Noida, and parts of Haryana and Uttar Pradesh, accessibility to a skilled workforce from adjoining villages and proximity to the urbanisation cluster of Gurugram & Faridabad.
Sohna is poised to become the most strategic warehousing destination in the north. Recent and upcoming infrastructure developments will aid the region's accessibility and enable quicker access to Delhi NCR. The 21 km Sohna elevated road will provide signal-free access from Gurugram to Sohna, and once fully operational, this road will reduce travel time by 15-20 mins. The stretch from Badshapur to Sohna is already operational, and the connection between Rajiv Chowk and Badshapur, has opened this month, making this route the fastest connection between the distribution centre and Gurugram and Delhi.
Abhijit Malkani, CEO, ESR India stated, “We are thrilled to welcome Croma, India’s trusted and leading electronics retailer to ESR Sohna. ESR is committed to building institutional-grade facilities to boost the country’s supply chain operations and in optimising the last-mile delivery for e-commerce players and retailers. This Grade A green building will help Croma scale its operations in North India, implement automation, create long-term value chain at a future-ready sustainable space that benefits the environment and the community."
Mr. Avijit Mitra – MD & CEO, Croma Infiniti-Retail Ltd., said “We at Croma, believe in getting closer to our customers and serving their electronic needs in a reliable and fast manner. The opening of DC at ESR Sohna at Gurgaon is a step in that direction as we expand our presence in NCR.”
This Park will be integrated with the ESR India app for digital facility management and is pre-certified Platinum by IGBC (Indian Green Building Council). ESR Sohna is energy, water, material and waste-efficient and will embody ESR's ESG best practices.
ESR is APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With US$140.2 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand, and Southeast Asia, representing over 95% of GDP in APAC, and includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allow capital partners and customers to capitalize on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$45 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index. More information is available at www.esr.com and www.in.esr.com.
About Croma-Infiniti Retail Ltd.
Launched in 2006, Croma is India’s first and trusted Omni-channel electronics retailer from the Tata Group. Croma was the first one-of-its kind large format specialist retail store that catered to all multi-brand digital gadgets and home electronic needs in India. Bringing alive the promise of a ‘Brighter Every Day’ for its
customers, Croma offers its customers a world-class ambience and omnichannel customer experience to shop both in-store and online at www.croma.com.
With over 16,000 products across 550+ brands through 260+ stores across 79 major cities of India, Croma is a brand of Infiniti Retail Ltd., which is a part of the Tata Group
Croma-Infiniti Retail Ltd.