Hero Realty to develop multi-story complex in Gurugram, targets a topline of Rs 5000 cr

financialexpress.com:

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.

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