Leading this strategic expansion is Shyam Kalyanasundaram, who has been appointed Chief Executive Officer of the company. Kalyanasundaram was previously Executive Director – Revenue at IndoSpace, a leading player in the industrial and logistics real estate sector.
The company’s new parks will be developed near high-growth industrial corridors such as Bengaluru and Chennai amongst others, aligning with India’s broader push to strengthen domestic manufacturing and streamline logistics.
“We will look at 50-100 acres industrial and logistic parks with a major focus on manufacturing to drive the next phase of growth. We will develop around 3-4 mn sqf of thunder built to suit model in tier II cities while the remaining will be in tier I locations,” said Kalyanasundaram.
According to industry estimates, Aequs Infra is likely to invest over ?2,000 crore in this expansion, with the average construction cost pegged at around ?2,000 per sq. ft. With its planned expansion and leadership reboot, Aequs Infra is now aiming to evolve into a pan-South India industrial platform—connecting global supply chains with India’s next-generation manufacturing hubs.
Founded by Aravind Melligeri—who also heads aerospace and consumer goods manufacturer Aequs Limited and co-founded QuEST Global—Aequs Infra has built a strong presence in Tier-2 cities, especially across North Karnataka. It currently operates three major industrial ecosystems: Belagavi Aerospace Cluster (BAC): India’s first notified precision engineering SEZ with over 32 operational units.Koppal Toy Cluster (KTC): The country’s first dedicated toy manufacturing hub and Hubballi Durable Goods Cluster (HDC): A park focused on consumer goods manufacturing, launched in 2021.These integrated clusters span over 1,000 acres and include more than 2 million sq. ft. of built-up factory space, servicing global clients across key sectors. The BAC caters to global aerospace players such as Airbus, Boeing, Collins Aerospace, and Safran, while both BAC and KTC support toy majors including Hasbro, Spinmaster, and Chicco. The HDC is home to brands like Wonderchef, Tramontina, Bergner, and Hamilton in the consumer goods space.
“The next wave of industrial infrastructure in India will be driven by demand for high-quality, flexible, and strategically located spaces near large consumption centers. Aequs Infra is in a strong position to deliver on this need, combining industrial expertise with the ability to scale,” said Kalyanasundaram.
The expansion also comes at a time when the company received a significant boost in its Tier-2 operations. In June, the central government approved Aequs Infra’s proposal to develop an electronics components SEZ in Hubballi, strengthening the HDC cluster. Notably, this was one of only two SEZ approvals granted during the cycle, the other being Micron’s facility in Sanand, Gujarat.
Aequs Infra’s entry into Tier-1 cities reflects a broader trend in India’s manufacturing and supply chain landscape. With the country becoming a key alternative to China in global manufacturing strategies, demand for Grade-A industrial and warehousing space has seen a sharp uptick. Government initiatives such as ‘Make in India’, the PLI (Production-Linked Incentive) schemes, and logistics sector reforms have further bolstered the growth.
Industry experts believe the shift toward integrated industrial ecosystems in and around metropolitan regions will define the next phase of India’s infrastructure growth. “India is entering a critical phase where industrial and logistics real estate needs to keep pace with manufacturing growth,” said Sankey Prasad, Chairman & MD, Middle East & India, Colliers.. “With rising demand in Tier-1 cities, especially in the South, players like Aequs Infra—who have proven capabilities in building scale and infrastructure—are well-positioned to play a transformative role.”
