Munjal Family Expands into Real Estate with Ambitious Projects Across India
The Munjal family, widely recognized for their two-wheeler empire, Hero Honda, is embarking on a significant diversification into the real estate sector. The group envisions developing an assortment of projects, including residential townships, industrial parks, hotels, resorts and leisure centers throughout the country. This strategic move follows their recent partnership with Daimler, the world's leading commercial vehicle manufacturer.
Group head Brij Mohan Munjal stated that their current revenues surpass $3 billion. "We are working on several projects around the country in the real estate area and plan to enlarge in a big way," affirmed his son, Sunil Kant Munjal, in an interview with the Times of India.
Initial Investments from Family Funds
A group member indicated that the initial investments for this real estate venture will be sourced from the Munjal family's own resources. It has been reported that a number of potential investors, bankers, and private equity firms have expressed considerable interest in the family's ambitious plans.
Arrow Infrastructure's Township Project Near Haridwar Factory
One of the most prominent projects in their real estate diversification portfolio is the development of a new township and industrial park around the Hero Honda factory in Haridwar. Arrow Infrastructure, a newly established company, will spearhead this development. This is merely one of the numerous projects currently in the pipeline for this burgeoning real estate division.
Diverse Portfolio of Projects
Beyond the Haridwar project, the group is simultaneously developing an IT park in Gurgaon and is actively exploring the development of resorts in Himachal Pradesh. They're also in the process of planning residential townships in Punjab, showcasing the breadth of their real estate ambitions.
Affordable Housing Options
A Munjal family representative elaborated on the township plans, emphasizing the intention to offer a diverse range of housing options across various price points. "Our idea is to provide mid-level to high-end housing and price points on the lower side could be even less than Rs 20 lakh," shared the representative, highlighting their commitment to affordable housing solutions.