Haridwar: Munjals promoted Hero Group would venture into real estate construction through a group company called Arrow Infrastructure and said it may lookout for a partner in the future.
Arrow Infrastructure, which has developed a residential complex for the employees of Hero Honda’s new plant here, would look beyond executing projects for the Hero Group, Hero Honda Motors’ Managing Director Pawan Munjal told reporters here.
“This is the starting for the company (Arrow Infrastructure) and it will go out and do business outside,” he added.
Asked if the company was roping in any partners, Munjal said, “Right now it is from the Group. However, as we go out, we may lookout for partners.”
He further said it is too early to say about the possible partner, planned investment and projects that the company was looking to take up.
Arrow Infrastructure has taken up the project for construction of the residential complex at Haridwar plant, aiming to bring in modern infrastructure facilities such as shopping complex and schools.
Hero Group, a name synonymous with two wheelers in India, is a diversified group of companies. It started its journey in 1956 by launching Hero bicycles. Its other ventures include product designing, IT-enabled services, finance and insurance.
The Group today comprises over 15 companies, 300 ancillary suppliers with over 5,000 outlets across the country.