Hero Realty Pvt Ltd (HRPL), promoted by Sunil Kant Munjal’s Hero Enterprise, has announced a joint venture with Saheb Enterprise to develop an approx. 2 million square feet project in Gurugram’s 104 Sector, along the Dwarka Expressway. Riding high on the recent record performance, HRPL aims at an additional Rs 2000 crore in the topline from this venture alone.
Announcing this joint venture, Dharmesh Shah, CEO, Hero Realty Pvt. Ltd, said, “This is another landmark step by Hero Realty in strengthening our footprint in key regions. The JVJD model is going to drive our expansion primarily in and around the Delhi NCR region. This project will further strengthen our continued sales growth in the current financial year and set the foundation for a significant increase in our market share and the top line.”
Speaking on the occasion, Digvijay Singh (CFA) and Lavanya Singh Dinodia, the Promoters of Saheb Enterprise, said, “We are extremely delighted to partner with an iconic brand like Hero Realty. We believe this venture will offer the best in category real estate to consumers in the Delhi NCR region.”
Hero Realty has recently received the coveted CARE A+; Stable rating by CARE, thus becoming the first real estate company in Delhi NCR to have this distinction. This is the 2nd time in a row that Hero Realty has been bestowed with this honour. CARE is the amongst the most prestigious Credit Rating agencies in India.
The new land parcel is located on the Dwarka Expressway in Sector 104 of Gurugram. It will have multiple projects, including residential high-rise and commercial complexes.
This venture further strengthens HRPL’s position in the region on the back of bullish run which the realty sector in Delhi NCR is witnessing. Gurugram’s 104 sector is fast emerging as an attractive investment opportunity given its unique locational advantage of being alongside the prestigious Dwarka Expressway.
Hero Realty has successfully delivered flagship projects in Ludhiana, Mohali and Haridwar.
Source : FE