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India warehousing leasing jumps 15% to 19.3M sq ft in Q1 2026; retail surges 115%
Our read
Retail occupiers' 115% leasing surge signals a window to lock in modern warehouse capacity now before tightening vacancy and rising rents erode unit economics.
The report
India warehousing leasing rose 15% YoY to 19.3M sq ft in Q1 2026, led by manufacturing and 3PL. Retail leasing surged 115%, but e-commerce fell 71% and FMCG 87%. Mumbai dominated; rentals climbed across all eight markets.
Reported figures
From the report. Source details below
- Mumbai 7.4M sq ft +66%
- Kolkata +440%
- vacancy 11.1%
- Grade A 46%
Why it matters to operators
Kolkata's 440% spike and Mumbai's 7.4M sq ft dominance highlight asymmetric M&A and JV opportunities in regional warehousing platforms with retail-anchored portfolios.
The source
Filed
First seen