Horizon Industrial Parks leases record 2.5 million sq ft in Q2, revenue rises 30%

Mumbai: Blackstone-backed industrial and logistics infrastructure platform Horizon Industrial Parks has reported a 30% year-on-year increase in revenue to Rs 215 crore for the quarter ended September, driven by record quarterly leasing of 2.5 million sq ft.

Leasing during the first half of the financial year reached 4.4 million sq ft, representing 68% of its full-year target of 6.5 million sq ft. Occupancy across its stabilised portfolio stood at 94% at the end of the quarter.

Horizon Industrial Parks’ operating profit increased 34% year-on-year to Rs 173.5 crore, with an operating margin of 81%, the company said in a release.


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The company added eight new customers during the quarter, with leasing activity led primarily by industrial occupiers. Its customer base now comprises 130 unique customers across sectors including e-commerce, third-party logistics, fast-moving consumer goods, renewable energy, automotive, data centres, semiconductors, aerospace and defence.

“We reported record performance in Q2 leasing 2.5 million sq ft, reflecting strong momentum and the continued strength of occupier demand across India’s industrial and logistics sector,” said Urvish Rambhia, CEO, Horizon Industrial Parks. “We continue to see strong structural tailwinds from consumption growth, industrialization, and sector formalization, which are expected to accelerate demand for Grade A assets and support absorption, occupancy, and rental growth over the next three to five years.”

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The company delivered six buildings spanning 1.8 million sq ft across four markets during the quarter. This took development completions in the first half of the financial year to 2.7 million sq ft. It remains on track to deliver 6 million sq ft during the financial year 2026-27.

Horizon Industrial Parks has also completed post-initial public offering deleveraging, reducing its net debt to Rs 2,765.1 crore. Its net debt-to-enterprise value ratio stood at 15%.

Horizon Industrial Parks’ platform spans 61 million sq ft across 46 assets in 10 cities. This includes around 32 million sq ft of operational assets and a land bank of around 2,300 acres. Its in-city platform comprises 17 sites across metropolitan markets, with a total network of 7 million sq ft.