One of India's top real estate developers, Hero Realty Pvt Ltd (HRPL), announced that it has formed a new joint venture (JV) agreement with Saheb Enterprise to build a high-end multi-story complex on about 4 acres of land in Gurugram's rapidly growing 104 Sector. With the announcement of this new project, Hero Realty hopes to increase its top line by an additional Rs 1500 crore for the current fiscal year and by Rs 5000 crore over the following few years. A Hero Realty spokesperson claimed that HRPL has been focusing on Gurgaon, Noida, Delhi, and Mohali and using its brands to acquire new products through an asset-light strategy. The company plans to launch another 30 – 35 lakh sq. feet within the following 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 most significant 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 the 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 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".
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.
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