Godrej Fund Management and Godrej Properties have entered into a joint venture agreement with Hero Cycles

Godrej Fund Management (“GFM”), the real estate private equity arm of the Godrej Group, and Godrej Properties Limited (“GPL”), one of India’s leading real estate developers, have entered into a joint venture with Hero Cycles Limited (“HCL”) for their Golf Course Road property in Gurgaon. The JV will develop, lease, and manage ~1 million square feet of prime office and retail space on the 4-acre property. The project is situated in one of the most desirable commercial locations in the country affording the opportunity to create an outstanding development catering to the commercial office requirements of leading Indian and international businesses.  The site is in close proximity to a multitude of established and leading commercial, retail, and residential destinations. Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties & Chairman, Godrej Fund Management, said, “We are pleased to partner Hero Cycles to develop a world class office building at this outstanding location. The combination of Godrej Fund Management and Godrej Properties combines superior investment management capabilities with best-in-class development capabilities.  We will do our best to ensure this development becomes a landmark development in NCR. Godrej Fund Management (GFM) is the real estate private equity arm of the Godrej Group. GFM manages over US $1 billion of capital across four funds in residential and commercial real estate. GFM aims to consistently deliver superior risk adjusted returns to its partners while focusing on consistently excellent governance and value creation.