Zomato leases its largest warehousing space in the country in Bengaluru

Zomato, the leading online food delivery platform, has secured its largest warehousing space in India, leasing 300,000 square feet at the Sumadhura Logistics Park in Bengaluru’s Hoskote. This move aligns with Sumadhura Group’s ambitious investment plans, with an initial infusion of Rs 600 crore earmarked for the first phase of the Sumadhura Logistics Park, covering 100 acres and offering 2.5 million sq ft of commercial warehouse space.

Madhusudhan G, Chairman and Managing Director (CMD) at Sumadhura Group, expressed enthusiasm about the collaboration with Zomato, emphasizing its significance in expanding their presence in the logistics and warehousing sector. The state-of-the-art facility is designed to cater to various industries, including e-commerce, pharmaceuticals, manufacturing, automobile, logistics, FMCG, retail, and electronics.

Looking ahead, the logistics park is slated for further expansion, aiming to encompass 6 million sq ft. This strategic move addresses the rising demand for warehousing solutions, particularly in East Bengaluru and surrounding areas.

Earlier in the day, Zomato reported a remarkable turnaround, with a consolidated net profit of Rs 138 crore in the December quarter compared to a net loss of Rs 347 crore in the same quarter last year. The company’s consolidated revenue surged to Rs 3,288 crore, reflecting its robust growth trajectory. Despite higher total expenses, Zomato’s shares closed 2.42% higher at Rs 144 on the BSE, indicating investor confidence in its performance and strategic initiatives.