Adani Logistics to earn ₹114 crore from Panvel warehouse lease

Adani Logistics has signed a long-term lease with Avenue Supermarts, the company that runs DMart stores.

They will rent a big warehouse in Panvel, Maharashtra, for 28 years.

The warehouse is 66,250 square feet, and the rent starts at ₹20.2 lakh per month.

The rent will go up by 12% every three years.

Avenue Supermarts paid a security deposit of ₹1.21 crore.

This deal shows that big companies are now renting warehouses for a very long time to make their supply chains more efficient.

Panvel is becoming a popular place for warehouses because it is close to the port and has good roads and trains.

This kind of long-term lease is good for both the companies and investors.