Hero Group

Hero MotoCorp sales increases by 10% in February at 3,94,460 units

The country's largest two-wheeler maker Hero MotoCorp on Wednesday reported a 10 per cent year-on-year increase in total wholesales at 3,94,460 units in February. The company had dispatched 3,58,254 units in the same month last year. In the domestic market, its sales rose to 3,82,317 units last month from 3,31,462 units in the same month last year. Exports, however, dipped to 12,143 units from 26,792 units in the year-ago period. "The volumes in the month of February indicate the continuously improving consumer sentiment and the company expects the positive trend to continue in the coming months, on the back of favourable economic indicators," Hero MotoCorp said in a statement.

Hero Realty buys land in Gurugram for Rs 90 cr for plotted development

Hero Realty Pvt Ltd has purchased a 5- acre land in Gurugram for Rs 90 crore to develop a plotted residential project. The deal was facilitated by property consultant Cushman & Wakefield. The name of the seller has not been disclosed. Hero Realty, promoted by Sunil Kant Munjal's Hero Enterprise, has bought the land in Sector 85, Gurugram, the consultant said in a statement. Dharmesh Shah, CEO, Hero Realty, said, The acquisition marks the entry of Hero Realty into the plotted spaces in Delhi-NCR region." The project will further strengthen its continued sales growth in this fiscal and set the foundation for a significant increase in market share, Shah said. "This land parcel is over 5 acres at a value of Rs 900 million(Rs 90 crore)," the statement said. Hero Realty has successfully delivered projects in Ludhiana, Mohali and Haridwar. Hardeep Lamba, MD Capital markets (North & East), Cushman & Wakefield, said this transaction will not only make way for a successful project .

Hero plans to expand electric two-wheeler range over next 12-18 months

The country's largest two-wheeler maker Hero MotoCorp plans to expand its electric two-wheeler range over the next 18-24 months as it looks to cater to demand across multiple customer segments, according to a senior company official. The company, which has already commenced sales of its electric scooter under Vida brand across Delhi, Bengaluru and Jaipur, plans to introduce the existing range in other cities as well in the next fiscal before it starts to roll out the new products. "With the launch in the three cities -- Delhi, Bengaluru and Jaipur -- where the customers are really taking up to the product and the overall sales and pre-sales experience...we are really ready to now multiply into many cities going into FY24 to establish ourselves wider into the market," Hero MotoCorp Head - Emerging Mobility Business Unit (EMBU)- Swadesh Srivastava said during an analyst call. Hero MotoCorp had launched VIDA V1 electric scooter in October last year in two variants Pro and Plus. The ..

Hero MotoCorp looks to ramp up export contribution to overall revenues: CFO

Hero MotoCorp expects exports to contribute at least 10 per cent to the overall revenue pie in the medium to long term while aspiring to grow faster than the industry in the domestic market in next fiscal year, according to company's CFO Niranjan Gupta. At present, overseas shipments' share in the overall turnover pie is in low single digit. The country's largest two-wheeler maker, which ships its products to various geographies in Asia, Latin America and Africa, also plans to scale up its presence in the domestic premium segment. "As far as global business (exports) is concerned over the medium to longer term, we do want global business to be at least 10 per cent of our overall revenue. There are actions which are in place..," Gupta said in an analyst call. There were huge headwinds last year in a lot of key markets due to currency inflation and other factors with some of the markets like Sri Lanka even closing down, he said. "But obviously, these markets will come back and there

Hero Electric to invest Rs 2,500 crore to launch 4 million units by 2026

The first stage of investment will roll out this year for a new factory in Rajasthan, where vendor units will invest another Rs 400 crore

KKR, Hero Group put $450 mn equity investment in Hero Future Energies

Hero Future Energies aims expansion in green hydrogen and battery storage

Top headlines: KKR to invest in Hero's RE arm; CEA pegs FY23 growth at 7%

SpiceJet has sent approximately 80 pilots on leave without pay for three months in order to rationalise its costs.

KKR, Hero Group to invest $450 mn in Hero Future Energies

Founded in 2012, Hero Future Energies is a leading independent power producer in India with a diversified portfolio of 1.6 GW of operating solar and wind projects

We're reading too much into weak two-wheeler demand: Hero Moto exec

The optimism is in contrast with the dealers' confidence, which flagged the recovery in motorcycles and scooters "as an area of concern"

Q1 results: Hero MotoCorp's net profit rises 71% on higher sales

Net profit of the Splendor and Glamor brands' maker increased to Rs 625 crore from Rs 365.44 crore in the same quarter a year ago

Hero MotoCorp selects Accenture to enhance supply chain, reduce costs

Accenture will use its zero-based supply chain approach to facilitate Hero MotoCorp's cost optimisation efforts

Hero MotoCorp eyes leadership position in electric two-wheeler segment

Hero MotoCorp, the country's largest two-wheeler maker, is eyeing leadership position in the electric two-wheeler segment globally, according to its annual report for 2021-22. The company, which currently leads the traditional two-wheeler segment globally in terms of volumes, is looking to foray into the electric segment in the upcoming festive season. Hero MotoCorp had last year crossed the 100 million cumulative production milestone since its inception in 1984. The company had achieved its first one million cumulative production milestone in 1994 and went on to cross 50 million units in 2013 and 75 million units in 2017. "This year will see Hero MotoCorp claim its position in the exciting clean mobility space in a bold avatar. Hero MotoCorp will transform its leadership in the internal combustion engine (ICE) market into the electric vehicle space globally!" the company Chairman and CEO Pawan Munjal informed shareholders. He noted that the company is geared up for the next ...

Hero MotoCorp launches Destini 125 XTEC; price starting at Rs 69,900

The new scooter, powered by a 125cc engine producing a power output of 9 BHP, comes in two variants with the standard variant priced Rs 69,900 and the top end tagged at Rs 79,990

I-T dept detects multiple irregularities after raids on Hero Moto, others

The Income Tax Department has found alleged illegal business expenses of over Rs 800 crore, Rs 60 crore "unaccounted" cash used to purchase land in Delhi

Hero MotoCorp shares decline over 4% after 29% drop in Feb sales

Two-wheeler market leader Hero MotoCorp had on Tuesday reported a 29 per cent decline in total wholesales at 3,58,254 units in February

Munjals move court to claim Hero brand for electric vehicle business

The legal battle comes at a time when Hero MotoCorp is gearing up to enter the EV business by March this year.

If given PLI, we'll make India a hub, say electric cycle companies

The Indian cycle industry (including e-cycles) is estimated to be 22 million units pa with revenues of $1.3 billion.

Hero Motors aims to treble exports, int'l revenue to Rs 3,000 cr by FY24

HMC (Hero Motors Company) Group is aiming to treble its exports and international revenue to Rs 3,000 crore by FY24, driven by high growth in the European and American markets.

Hero Group launches education technology venture Hero Vired: Details here

Hero Group on Tuesday launched Hero Vired, with the promoter Munjal family committing over $10 million to offer learners overall professional development to make them industry-ready for employment

Munjal family matriarch Santosh Munjal passes away at 92

Santosh Munjal, matriarch of the Munjal family -- the promoters of the Hero group, has passed away, according to the family.