IndoSpace on embracing digital transformation

Rajesh Jaggi, real estate vice-chairman at Everstone Group, parent of IndoSpace, discusses rolling out logistics smart parks across India.

This article is sponsored by Everstone/IndoSpace. 

What were your firm’s key events in 2021?

Rajesh Jaggi

The year 2021 has been an eventful one for IndoSpace on many fronts. We consolidated our leadership position as India’s pioneer and largest developer and owner of Grade A industrial real estate and logistics parks, with 44 parks spanning over 50 million square feet. We have also strengthened our focus on the emerging Tier 2 Indian cities in 2021, as well as further consolidated our presence in the Tier 1 cities.

In addition, we have expanded our presence by venturing into new geographies and rolled out smart parks last year. We intend to replicate these smart parks across our portfolio in a phased manner. These parks are equipped with smart meters, smart cameras, solar panels and various digital management technologies.

What has the operating environment been like?

We are now in the third year of the pandemic; however, the impact of
covid-19 on the business side is still being experienced, especially the challenges in the acquisition of land parcels due to the increased turnaround time to close the transaction.

We have also witnessed the consolidation of small players in the business, wherein large and multinational players have more market share. On the flip side, even though the environment has been tough, we have been very successful on the leasing front across the platform.

What key challenges did you have to overcome?

We have always believed in being up-to-date in terms of technology; however, the pandemic posed the challenge of having to accelerate the pace of our digital transformation. We accepted the challenge and led the transformation of our parks, and the organization more broadly.

We also believe in continually improving our internal capabilities through training, audits and workshops, as well as increasing process efficiencies, which resulted in better services and infrastructure at our logistics parks.

We launched the IndoSpace Facility Management System for our tenants across India to cater to all customer needs. This is a completely automated solution optimized to make park operations more convenient, safe and secure.

Some of the key modules of this application include a visitor management system, a help-desk management system, a patrol management system and an instant feedback management system.

What or who is responsible for your success?

We have been committed to our vision of providing world-class logistics and industrial real estate in India and we have been doing so since inception. No one can achieve success alone, and the superb teamwork of our employees, tenants, IPCs and investors has led to our consistent growth.

A steady flow of active, engaged customers has always been central to building our business. Every employee at IndoSpace is committed to achieving high standards of customer excellence, ensuring customers have a positive experience with our brand, and keeping them coming back for more.

Our people are our pride, and they are responsible for us being the pioneer and the largest developer and owner of Grade A industrial real estate and logistics parks in India today.