Shilpa Shetty Ventures into Real Estate with Groupco Developers
Bollywood Actress Takes the Leap
Mumbai: Renowned Bollywood actress, Shilpa Shetty, is diversifying her business portfolio by stepping into the real estate sector. She has co-founded Groupco Developers, a real estate development company, in partnership with Hem Tejuja. The primary focus of the group will be on residential development, with plans to collaborate with landowners for project development.
Vision Behind the Venture
Commenting on the launch, Shilpa Shetty expressed her desire to make a positive impact on people's lives, especially the middle class, who often face challenges in owning a home despite their hard work. Her personal experience of growing up in a middle-class family in Chembur, Mumbai, has influenced her decision to enter the realty sector.
Business Expansion and Associations
This move marks another milestone in Shilpa Shetty's business expansion, following her ventures in sports, health, and entertainment. Notably, she is also the co-owner of the Rajasthan Royals, an IPL franchise based in Jaipur, which has been sponsored by Supertech, a prominent real estate developer in India, for the third consecutive year in IPL 2013.
Ownership and Upcoming Projects
Shilpa Shetty and Hem Tejuja will hold equal shares in Groupco Developers, with Shetty's stakes managed through Kundra Constructions. The company is set to launch its first project in Navi Mumbai.
