LP Logiscience sets the stage for rapid expansion in 2024, with strategic plans of doubling warehousing capacity & venturing into new territories
LP Logiscience, the contract logistics and warehousing arm of the esteemed over 100-year-old legacy brand Liladhar Pasoo Group, and a trusted name in warehousing and third-party logistics (3PL) services, had a successful 2023 with expansion in Tier 2 markets and growth in its service portfolio. In line with its strategic vision, in 2024, LP Logiscience is forging ahead with geographic expansion into Tier 2 cities and new territories while intensifying its presence in existing markets such as Indore and Nagpur. This strategic approach not only broadens LP Logiscience’s reach but also strengthens its foothold in emerging markets, positioning the company as a formidable player in the logistics landscape.
According to a recent report, the Indian warehousing market is expected to grow at a CAGR of 15.64% during the 2022-2027 period. It witnessed significant growth and transformation in H1 2023, marked by a 35% YoY increase in total space take-up, reaching an impressive 19.1 million sq. ft. The 3PL (Third-Party Logistics) players continued to be the driving force, contributing to about 43% of leasing activity, YoY. With the government focus on positioning India as a global manufacturing and logistics hub, several polices have been recently implemented, including access to FDI, push for digital enablement, implementing standardised warehousing practices, prioritising green logistics initiatives, investing in capacity building and skilling, and facilitating seamless inter-modal freight transportation. In line with this, the sector is poised to leverage the estimated $10 billion USD investments in the warehousing and logistics sector, collectively driving transformative changes and promising growth within India’s logistics industry.
Leveraging this productive business environment, as a warehousing and 3PL service provider, LP Logiscience aims to utilise its expertise and cutting-edge infrastructure to deliver comprehensive solutions tailored to the unique needs of its Indian and international clients. Speaking about the expansion plans, Mr Varun Gada, Director, LP Logiscience, said, “Our ongoing expansion underscores our commitment to meeting the escalating demands of our domestic and international clients. We are focused on not only delivering seamless operations but also upscaling our solutions to meet the global standards in sustainability and smart tech-enabled processes that will further help us drive growth and achieve our business goals. The Indian logistics and 3PL sector has recently witnessed some milestone policies that are playing a crucial role in accelerating the growth of the sector and we at LP Logiscience aim to leverage that and do our bit in national vision of becoming a global hub for logistics. With a clear focus on efficiency, reliability and innovation, we at LP Logiscience continue to meet new standards for excellence in warehousing and logistics services, driving growth and success for businesses across various industries.”
LP Logiscience, a division of the Liladhar Pasoo Group, has steadily evolved since its establishment a decade ago, growing at an impressive rate of 20%-25% year-over-year. With a robust business model supported by advanced technology, LP Logiscience offers customised and flexible warehousing solutions. The company is also committed to introducing sustainable practices for energy and resource optimisation, including plans for an electric vehicle fleet for distribution. In the past two years, the company registered growth across some of its key warehouses in Delhi NCR, Indore,
Chennai, Nagpur, Mumbai (Bhiwandi) and Ahmedabad. LP Logiscience’s unwavering commitment to expansion, coupled with its reputation for excellence in warehousing and 3PL services, underscores its position as a frontrunner in the logistics industry. As LP Logiscience continues to contribute to India’s thriving warehousing sector, it remains dedicated to transforming the logistics industry, setting new standards and driving positive change in the world of warehousing and logistics, emphasised a communique.
About LP Logiscience – a Liladhar Pasoo company
LP Logiscience has been driving the transformation of the warehousing sector in India since its inception a decade ago. Apart from its scientific approach to specialised storage and warehouse management, LP Logiscience is also one of the leading Indian players to adopt smart tech-enabled operations and focus on building carbon neutral/sustainable warehouses in India.
Liladhar Pasoo, its parent legacy brand, has shaped the logistics sector since its inception in 1919, and since then emerged as India’s most experienced integrated logistics and supply chain solutions provider. Following in its footsteps, LP Logiscience has grown its warehousing and transportation business to 3 million sq. ft. of storage space and a reach of 7,000 distribution pin codes PAN India within 11 years of inception. Today, LP Logiscience has brought about revolutionary changes in the contract logistics business to gain one of the highest market shares in the warehousing business to service the niche specialty chemical market.
As the company continues to chart new territories and innovate to meet evolving market demands, LP Logiscience is poised for even greater achievements in the years to come.
Source: Exim News Service: Mumbai, April 11