With this new project announcement, Hero Realty aims for at an additional Rs 1500 crore in the topline for the current fiscal.
Hero Realty Pvt Ltd (HRPL), one of India’s leading real estate developers, today announced that it has entered into a new joint venture (JV) agreement with Saheb Enterprise to develop a premium multi-story complex on approximately 4 acres of land in Gurugram’s fast-developing 104 Sector. With this new project announcement, Hero Realty aims for at an additional Rs 1500 crore in the topline for the current fiscal, and a topline of Rs 5000 crore in the next couple of years.
Talking to FE Online, a spokesperson of Hero Realty said that HRPL has been leveraging its brands to acquire new products through an asset light strategy and its focus is on Gurgaon, Noida, Delhi, and Mohali. The company now plans launch of close to another 30 – 35 lakh sq. feet within the next one year.
Spread across approximately 4 acres of prime land, Hero Homes Gurugram is located on the high-growth Dwarka Expressway in Sector 104, offering predominantly premium residential apartments. With the addition of this new land parcel, Hero Realty and Saheb Enterprise project land will be increased to 11 acres, making it one of the largest residential developments in Gurugram and significantly strengthening HRPL’s presence in the NCR region. The site is strategically located with easy access to National Highway 48 and Northern Peripheral Road, and soon to be fully operational Dwarka Expressway.
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Announcing this joint venture, Dr. Dharmesh Shah, CEO, Hero Realty Pvt Ltd, said, “We are pleased to announce the addition of this strategically important project in Gurugram. This JV project with Saheb Enterprise will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of deepening our presence across key real estate micro-markets. This project also aligns with our vision to create transformative real estate projects that redefine industry standards. 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.”
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Speaking on the occasion, Digvijay Singh (CFA) and Lavanya Singh Dinodia, the Promoters of Saheb Enterprise, said, “We are excited to partner in the new project with an iconic brand like Hero Realty, as the CEO has transformed HRPL. Homebuyers’ overwhelming response reflects their trust and confidence in our combined capabilities. We believe this venture will offer consumers the best in category real estate in the Delhi NCR region.”
Gurugram’s 104 Sector is fast emerging as an attractive investment opportunity given its unique locational advantage of being alongside the prestigious Dwarka Expressway. Dwarka Expressway will be fully operational soon.
Hero Realty has already delivered flagship projects in Gurugram, Ludhiana, Mohali, and Haridwar.
