Hero Realty and Saheb Enterprise team up for a huge housing project in Gurugram. Uncover this exciting partnership.
Hero Realty Pvt Ltd and Gurgaon’s Saheb Enterprise are forming a second joint venture to create a residential complex in Sector 104 in Gurugram.
This marks a huge milestone in Hero Realty’s collaboration with Saheb Enterprise, with their previous joint venture in April 2023. This targets a 2 million square feet development and aims for revenues of Rs 2000 crore. In this latest venture, backed by Sunil Kant Munjal’s Hero Enterprise, they plan to build 800,000 square feet of space, with a target of Rs 1500 crore in revenue.
These two ventures will expand to cover 11 acres, making them one of the largest residential developers in Gurugram.
“This joint venture project will boost our presence in Gurugram over the coming years. It aligns perfectly with our goal of establishing our foothold in real estate micro-markets,” stated Dharmesh Shah, CEO of Hero Realty Pvt. Ltd.
Hero Realty has grand plans for the current year to launch real estate projects of approximately 4 million square feet and a projected revenue potential of Rs 3,500 crore. The focus remains on residential development, with a huge investment of Rs 1,000-1,200 crore this year.
Hero Realty has already delivered landmark projects in Gurugram, Ludhiana, Mohali, and Haridwar. The company has introduced a new business vertical, “Hero Earth,” specialising in plotted developments across the Delhi-National Capital Region (NCR).
While maintaining its presence in Mohali and Ludhiana, where it is actively involved in ongoing projects, Hero Realty aims to achieve annual sales of Rs 5,000 crore to position itself as one of the top real estate companies in northern India and among the top 10 players in the country.