Zomato, the online food delivery company, has secured its largest warehouse in India to date at the Sumadhura Logistics Park in Bengaluru’s Hoskote area. Covering an impressive 300,000 square feet, this warehouse marks a significant expansion for Zomato’s logistical operations.
In an announcement, the Sumadhura Group said it aims to invest INR 600 crore in the first phase of the Sumadhura Logistics Park, which will be spread across 100 acres. It will offer 2.5 million sq ft of commercial warehouse space to companies.
“This collaboration with Zomato marks a significant milestone in our journey as we work towards expanding our clientele in the logistics and warehousing space,” said Madhusudhan G, chairman and managing director (CMD) at Sumadhura Group.
“Our new facility is equipped with the latest amenities to meet the diverse requirements of industries such as e-commerce, pharmaceuticals, manufacturing, automobile, logistics, FMCG, retail, and electronics.”
Subsequently, the logistics park is slated for expansion, encompassing a total area of 6 million square feet.
“This is a strategic move for our group, driven by the increasing demand for warehousing solutions in Bengaluru, particularly in East Bengaluru and surrounding areas,” he added.
Meanwhile, Zomato, in a regulatory filing, announced a consolidated net profit of INR 138 crore in the December quarter. This contrasts sharply with the consolidated net loss of INR 347 crore recorded in the same quarter of the previous fiscal year.
Continue Exploring: Zomato reports third consecutive profitable quarter with INR 138 Cr PAT in Q3 FY24
The company’s consolidated revenue from operations in the third quarter of the ongoing year stood at INR 3,288 crore as against INR 1,948 crore a year ago. Total expenses were higher at INR 3,383 crore compared to INR 2,485 crore in the corresponding period a year ago, the company said. On Thursday, the shares of the company ended 2.42 per cent in the green at INR 144 on BSE.
