Adani Logistics to earn over ₹114 cr from Panvel warehouse lease with Avenue Supermarts

Adani Logistics Ltd is set to earn over ₹114 crore in rental income over the full tenure of a long-term warehousing lease it has entered into with Avenue Supermarts Ltd, the operator of the DMart retail

chain, underscoring the growing scale and maturity of India’s logistics real estate market.

According to data accessed by CRE Matrix, a real estate data analytics firm, Adani Logistics has sub-leased a large warehouse facility in Panvel, Maharashtra, to Avenue Supermarts under a 28-year sub-lease agreement. Based on the contracted rentals and escalation clauses, the total rent payout over the lease period works out to approximately ₹114.2 crore, documents reviewed by CRE Matrix showed.

The transaction was registered on December 24, 2025, and involves a warehouse located at Survey No 131/1 and other parcels at Dharna Camp, Tehsil Panvel, District Raigarh.

Rental structure and lease terms

The warehouse measures 66,250 square feet, with a starting monthly rent of ₹20.2 lakh, translating to ₹30.5 per square foot. The agreement includes a six-year lock-in period, providing long-term income visibility to Adani Logistics.

Under the lease terms, rentals will escalate by 12% every three years, a structure that significantly enhances the lifetime value of the contract. Avenue Supermarts has also paid a security deposit of ₹1.21 crore, according to the documents.

Market participants note that such long-tenure leases with built-in escalations are becoming increasingly common for Grade A logistics assets, particularly when the tenant has a strong balance sheet and predictable operational requirements.

Why Panvel is emerging as a logistics hotspot

Panvel has rapidly evolved into one of the most preferred logistics and warehousing destinations in the Mumbai Metropolitan Region (MMR). Its proximity to the Jawaharlal Nehru Port Authority (JNPA), connectivity to Mumbai and Navi Mumbai, and access to key road and rail corridors have made it a strategic choice for retailers, FMCG companies and third-party logistics players.

Industry experts say Avenue Supermarts’ decision to commit to a 28-year lease reflects the retailer’s emphasis on supply-chain efficiency and long-term backend infrastructure, especially as its store network continues to expand across western and southern India.

“Large retailers are increasingly locking in warehousing capacity for decades rather than years, as distribution efficiency becomes a key competitive advantage,” said a logistics sector consultant, adding that Panvel is now rivaling Bhiwandi as a preferred warehousing cluster in the MMR.

Institutional demand supports logistics real estate

For Adani Logistics, the deal adds to its growing portfolio of logistics and warehousing assets and highlights the group’s focus on creating long-duration, annuity-style revenue streams. The company is part of the broader Adani Group’s integrated logistics platform, which spans ports, rail, industrial parks and storage infrastructure.

The transaction also mirrors a broader trend in India’s logistics real estate market, where long lease tenures, periodic escalations and blue-chip tenants are attracting sustained interest from institutional investors and infrastructure-focused funds.

With consumption-led sectors such as retail and e-commerce continuing to drive demand, analysts expect leasing activity in India’s logistics and industrial segment to remain strong through 2026, particularly in established hubs such as Panvel, Bhiwandi, Chakan and Sriperumbudur.

Also Read: Retailers urges consumption-led growth, tax relief and National Retail Policy in Budget 2026–27