Hero Realty intends to start up real estate projects this fiscal year that would total over 4 million square feet and have a potential income potential of Rs 3,500 crore.
According to Shah, the company, which is supported by Sunil Kant Munjal’s Hero Enterprise, is also thinking about doing an initial public offering (IPO) in the next three to four years.
Hero Realty intends to invest between Rs 1,000 and Rs 1,200 crore this fiscal year with a focus on residential construction, he said.
Hero Realty is planning to continue its aggressive expansion this year after successfully launching real estate projects in Mohali that sum about 450,000 square feet in 2022–2023.
A joint venture Dwarka Expressway project having 2.2–2.3 million square feet area and a projected turnover of Rs. 2,000 crores, was recently entered into by the company.
Hero Earth, a new business division it has launched, would focus on projected developments in the Delhi-National Capital Region (NCR). Sector 85 in Gurgaon is where the first project under this vertical is situated.
As and when we have a solid opportunity, Hero Earth will be a separate company sector that focuses on planned developments around Delhi-NCR. Our first residential plot project in Gurgaon would be this one in Sec-85, according to Shah.
Approximately 90 acres of the company’s projected development in Haridwar have been sold. Additionally, the corporation is attempting to market the stories via metaverse.
According to Shah, “We have developed a platform that will soon be launched and where customers can visit the sites, their plots, check the Vastu, see the entry, exit, and size and then the customers get to decide on inventory.”
Since the company primarily serves Gurgaon, Delhi, and the NCR, it may also expand into Noida. “We are looking for an expansion in Mohali because we have a project there. We have 20,000 square feet in Ludhiana as well,” Shah remarked.
The business will begin construction on its group home project in Gurgaon’s Sector 104 in January 2024. “We intend to roll it out in stages. After the Dwarka Expressway, the market had a surge, and now there is a possibility that a portion may begin.
We anticipate making more money by building our brand and credibility. To increase its effectiveness, we are also purchasing some surrounding patches, added Shah. To rank as the second or third largest real estate company in northern India and among the top 10 players in India, Hero Realty aims to achieve annual sales of Rs 5,000 crore.