Hero Realty Pvt Ltd, led by CEO Dharmesh Shah, has revealed its ambitious plans for the upcoming financial year. The company aims to launch real estate projects covering approximately 4 million square feet, with an expected revenue potential of Rs 3,500 crore. In addition, Hero Realty, supported by Hero Enterprise, and helmed by Sunil Kant Munjal, is contemplating an initial public offering (IPO) within the next three to four years.
Hero Realty’s investments will primarily focus on residential development, with a planned expenditure of Rs 1,000-1,200 crore for the current fiscal year. Shah envisions achieving sales figures of approximately Rs 5,000-6,000 crore within the next two years. Following this milestone, the company intends to list itself on the stock exchanges.
Hero Realty is poised for continued aggressive expansion in the coming months after the successful launch of real estate projects encompassing around 450,000 square feet in Mohali during the previous year. The company recently entered into a joint venture project on Dwarka Expressway, featuring a development potential of 2.2-2.3 million square feet and an estimated turnover of Rs 2,000 crore.
Hero Realty has established a new business vertical called Hero Earth to diversify its offerings. This division will specialize in plotted developments across the Delhi-National Capital Region (NCR), beginning with the first project situated in Sector 85 of Gurgaon. The venture aligns with the Haryana government’s DDJAY (Deen Dayal Jan Awas Yojana) scheme. Shah emphasized the significance of this project, as it represents the company’s initial foray into residential plots in Gurgaon.
Hero Realty has nearly sold out its plotted development in Haridwar, spanning approximately 90 acres of land. In an effort to attract buyers, the company is also exploring the possibility of selling the plots through a metaverse platform. Shah elaborated on this innovative approach, highlighting the platform’s features that enable customers to virtually visit sites, examine plots, assess Vastu considerations and make informed decisions about inventory.
Expanding its geographical presence, Hero Realty is considering entering the Noida market, in addition to its focus on Gurgaon, Delhi, and the NCR. The company already has a project in Mohali and possesses 20 lakh square feet in Ludhiana.
The eagerly anticipated group housing project by Hero Realty in Gurgaon’s Sector 104 is slated for launch in January 2024. Shah revealed plans to introduce the project in phases, taking advantage of the positive market sentiment following the completion of the Dwarka Expressway. The company aims to establish itself as a reputable brand and is actively acquiring adjacent land patches to enhance the project’s efficiency.
By achieving an annual sales target of Rs 5,000 crore, Hero Realty aspires to become one of northern India’s top real estate companies, ranking among the top 10 players nationwide. This achievement will pave the way for the company to pursue an IPO. Shah emphasized Hero Realty’s financial leverage, trusted legacy brand, and commitment to providing excellent customer service as factors contributing to its credibility.
Hero Earth, a subsidiary of Hero Realty, is aggressively pursuing large-scale plotted development projects in the residential segment. The company plans to extend its projects to major cities in northern India, reinforcing its presence in the real estate market.
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