In an exclusive conversation CNBC-TV18 caught up with Sunil Munjal, Chairman of the Hero Group who gave his views on the announcement of withdrawal of stimulus packages.
Below is a transcript of the exclusive interview with him on CNBC-TV18. Also watch the accompanying video.
Q: What is your view on the stimulus packages?
A: Whether it is the time to take away the stimulus yet or not is the question we need to ask six months from now. I think we need to do a review six months later whether this is sustainable. If it is it may be fair to take it away. But if not, we might need to hold it on a little longer but clearly there is an improvement this time.
Q: I am going to talk to you about one of your other ventures now outside of auto and that is real estate. Take us through that because that is a private investment but how ambitious and aggressive are you as far as your real estate plans are concerned?
A: This happened with us almost by chance. We look at the industry often on and decided not to come in earlier but here was an opportunity in and around Haridwar. A lot of industry has gone there and we are setting up a completely integrated like a township. We call it Haridwar Greens.
Q: Any plans to go public with this sir?
A: No plan at all right now.
Q: No plan at this point in time?
A: No.
Q: But in terms of investments what kind of investments are we actually talking about?
A: This is actually mixed. We have put some of our own money, some of them are borrowed funds. I would imagine we have invested a little over, I don't know the exact number now, little over Rs 300 crore so far.
