Mumbai: Warburg Pincus-backed logistics developer e-Shang Redwood (ESR) is in the process of signing a joint development agreement with Lodha Group for an industrial park at the latter’s township project Palava, sources said. The luxury homes maker, Lodha Group, had last year announced its foray into the warehousing space with a 150-acre facility in its mega township project ‘Palava’ coming up in Dombivli in the neighbouring Thane district.

According to sources, ESR is likely to enter into a joint development agreement with Lodha for 90-acre of space in the Grade A warehousing industrial park, which will offer a floor space index of one. Both Lodha and ESR refused to comment on the proposed deal.