Hero Realty will invest Rs 3,078 crore in developing a luxury residential project on Dwarka Expressway in Gurgaon.
The company, backed by Sunil Kant Munjal’s Hero Enterprise, had formed a joint venture with Gurugram-based Saheb Enterprise to develop a premium residential complex in Sector 104, Gurugram.
This was the second joint venture by Hero Realty with the same company. Earlier, both companies had entered a JV to develop more than 2 million square feet with target revenue of Rs 2,000 crore.
Hero Realty has delivered over 6 million sq ft while another 5 million sq ft is under development.
“Hero Realty is entering a transformative phase, with a focus on purposeful expansion and long-term impact. We are deepening our presence across key growth corridors in North India, guided by a clear vision to build communities that reflect evolving lifestyles, offer elevated living experiences, and stand the test of time,” said Rohit Kishore, CEO, Hero Realty.
With both JV, Hero Realty and Saheb Enterprise will have a total project area of 11 acres, making it one of the largest residential developments in Gurugram. Together, the projects will offer about 3 million sq ft of residential space.
Sectors around the Dwarka Expressway are fast emerging as an attractive investment opportunity. Hero Realty has already delivered flagship projects in Gurugram, Ludhiana, Mohali, and Haridwar. It is looking to expand its presence in Mohali and Ludhiana.
Source : ET
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