Bengaluru| Mumbai: In one of the largest warehousing lease transactions in India this year, Scootsy Logistics, owned by food and grocery delivery firm Swiggy, has leased 580,000 sq ft of space at One K Square Logistic Park in Bhiwandi, near Mumbai, said people with direct knowledge of the development.
The deal stands out in a market witnessing strong momentum this year, and marks a key milestone for the logistics and quick-commerce firm as it expands its footprint into large-format warehousing.
"The property is leased at a rental rate of over ₹27.5 per sq ft per month with a five-year tenure and a five-year lock-in period, reflecting a long-term commitment by the tenant," said one of the persons cited above. "The asset highlights the increasing preference of global financial institutions for high-quality, Grade-A office spaces in India."
Scootsy Logistics, once known for its hyperlocal delivery model launched in 2015, was acquired by Swiggy in 2020. Post acquisition, Scootsy retained its brand and pivoted towards premium grocery and essentials delivery while becoming part of Swiggy's broader last-mile fulfilment ecosystem.
"The leasing of this large-format warehouse in Bhiwandi signals a strategic move to scale beyond micro-fulfilment centres and build supply chain resilience through central warehousing," the second person said. "The facility will be used to service not only Mumbai but also surrounding regions, enabling faster replenishment and better inventory control across Scootsy's expanding network."
Swiggy did not respond to ET's email query.
The deal comes amid surging demand in India's warehousing sector in the first half of 2025. During this period, third-party logistics (3PL) firms continued to be the primary drivers of space uptake in Grade A warehouses & industrial sheds, contributing to about 32% share in overall demand, Colliers said in a report.
About 20 million sq ft of leasing was recorded in H1 2025, a 33% year-on-year increase. Among the top eight cities, Delhi-NCR, Chennai, Mumbai, and Bengaluru saw demand of at least 2 million sq ft during the period.
The deal stands out in a market witnessing strong momentum this year, and marks a key milestone for the logistics and quick-commerce firm as it expands its footprint into large-format warehousing.
"The property is leased at a rental rate of over ₹27.5 per sq ft per month with a five-year tenure and a five-year lock-in period, reflecting a long-term commitment by the tenant," said one of the persons cited above. "The asset highlights the increasing preference of global financial institutions for high-quality, Grade-A office spaces in India."
Scootsy Logistics, once known for its hyperlocal delivery model launched in 2015, was acquired by Swiggy in 2020. Post acquisition, Scootsy retained its brand and pivoted towards premium grocery and essentials delivery while becoming part of Swiggy's broader last-mile fulfilment ecosystem.
"The leasing of this large-format warehouse in Bhiwandi signals a strategic move to scale beyond micro-fulfilment centres and build supply chain resilience through central warehousing," the second person said. "The facility will be used to service not only Mumbai but also surrounding regions, enabling faster replenishment and better inventory control across Scootsy's expanding network."
Swiggy did not respond to ET's email query.
The deal comes amid surging demand in India's warehousing sector in the first half of 2025. During this period, third-party logistics (3PL) firms continued to be the primary drivers of space uptake in Grade A warehouses & industrial sheds, contributing to about 32% share in overall demand, Colliers said in a report.
About 20 million sq ft of leasing was recorded in H1 2025, a 33% year-on-year increase. Among the top eight cities, Delhi-NCR, Chennai, Mumbai, and Bengaluru saw demand of at least 2 million sq ft during the period.
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