BENGALURU: Hero Realty Pvt. Ltd, the real estate arm of Hero Enterprise Ltd, plans to ramp up its business by entering new cities, launching multiple projects and acquiring land, a top company official said.
The New Delhi-based company will launch six projects over the next 12 months, including group housing, villas and plots, in existing markets and new locations such as Lucknow, Vrindavan, Ghaziabad and Greater Noida.
“In the last two-three years, the company has been growing strategically. In the next phase, the target is to be one of the top three developers in north India. We have already tied up land for project launches in FY27. Going forward, we will look at more new locations and satellite towns in NCR (national capital region) and north India for future projects,” Rohit Kishore, chief executive officer of Hero Realty, said in an interview.
Last November, Hero Realty and HDFC Capital Advisors, the real estate private equity arm of HDFC Group, tied up to form a ₹1,000 crore platform to develop housing projects across tier-1 and tier-2 cities. The partnership was aimed at enabling faster expansion across markets.
Hero Enterprise houses businesses ranging from real estate, insurance broking to steel, along with an active investment office. It was set up by Sunil Kant Munjal, the youngest son of Hero Group founder Brijmohan Lall Munjal. Hero Homes is the residential brand of Hero Realty, which was formed in 2006.
Hero Realty is developing over 5.2 million sq. ft in the NCR, Punjab, Uttarakhand and Himachal Pradesh. It sells homes priced in the range of ₹1.5 crore to ₹6-7 crore.
Premium homes
“The strategy is to have products across price categories, but we will not go beyond this premium price range. Even in Gurugram, the luxury category of homes may be oversold, but there is demand in the ₹2-5 crore range and in the more premium ₹5-7 crore category,” Kishore added.
Hero Realty launched projects in Gurugram, Mohali and Ludhiana in 2025-26 and has an upcoming plotted development in its existing Haridwar township.
The company recently tied up with Panasonic Electric Works India for co-branded residences in its high-end Dwarka Expressway project in the NCR named The Palatial. About 150 homes, priced at ₹5.25 crore onwards, will have advanced smart living solutions that Panasonic will bring in.
The real estate markets in tier-2 and 3 cities didn’t recover as quickly as in the top metros after the pandemic, mainly due to slower economic improvement.
Pankaj Kapoor, managing director of Liases Foras Research, said sales in tier-2 cities dropped 12% year-on-year in the 12 months ended September 2025. Sales in tier-1 cities (the top eight metros) dropped 4% during this period. However, fresh project launches in tier-2 cities rose.
“If supply continues to rise in these markets, sales will also improve, going forward. Post-pandemic, developers mainly focused on large cities and luxury projects. However, the top tier cities are getting saturated to some extent, as a result of which developers are more open to exploring smaller real estate markets,” Kapoor said.
Among the smaller cities, Jaipur, Lucknow, Vadodara, Surat, Nashik and Nagpur performed well in terms of sales, as per Liases Foras.