Hero Realty Plans Real Estate Venture Launches of Around INR 3500 Cr in Delhi NCR

As per news in the real estate industry, Hero Realty intends to launch real estate ventures encompassing approximately 4 million square feet in this fiscal year, with an anticipated revenue potential of 3,500 crore. 

According to CEO Dharmesh Shah, the company, which is funded by Sunil Kant Munjal's Hero Enterprise, is contemplating an initial public offering (IPO) within the next three to four years. 

This fiscal year, Hero Realty intends to invest 1,000-1,200 crore with a focus on residential development, he said.

In 2022-23, Hero Realty effectively launched approximately 450,000 square feet of real estate ventures in Mohali. This year, the company plans to continue its aggressive expansion.Recently, the company embarked on a joint venture project on Dwarka Motorway with a development potential of 2.2-2.3 million square feet and an anticipated turnover of 2,000 crore.

It has introduced a new business vertical, Hero Earth, which will focus on calculated developments throughout the Delhi-National Capital Region (NCR). The first initiative in this vertical is located in Sector 85 of Gurgaon.

"The plotted development is part of the Haryana government's DDJAY (Deen Dayal Jan Awas Yojana) programme.Hero Earth will be a distinct business vertical that focuses on plotted developments throughout Delhi-NCR when the opportunity arises."