After the partition in 1947, the Munjal family migrated to India and started a small business of manufacturing bicycle components in Ludhiana, Punjab in North India at a time when great bottlenecks of industrial infrastructure and investments existed.
In 1956 Hero Cycles Limited started production in its Ludhiana plant to manufacture bicycles. Along with this plant, the Munjal family lead by Dr. Brij Mohan Lall Munjal embarked on a journey to backward integrate into their supply chain as well as closely manage their distribution. By the 1970’s, Hero Cycles was the world’s largest bicycle manufacturing company and the Hero group had set up several ancillary units supplying to the cycle plant. The group then ventured into other unrelated businesses, such as yarn spinning, exports and auto components.
In 1984 Hero MotoCorp Ltd. (formerly Hero Honda Motors Limited) was formed as a joint venture between Honda Japan and the Hero Group promoters Dr. Brij Mohan Lall Munjal along with his sons (Late) Raman Kant Munjal, Pawan Kant Munjal, Suman Kant Munjal and Sunil Kant Munjal.
The first plant was established at Dharuhera, Haryana, on the outskirts of New Delhi. In the years to follow, large industrial parks were created in close vicinity for ancillaries to supply to Hero MotoCorp Ltd.
In quick succession came the setup of several other projects in Forgings, Casting, Plastic Injection Moulding and other manufacturing technologies. Over the next two decades the Hero Group through Hero Corporate Service Private Limited setup several companies, partly or wholly owned by the Group. With its keen sense on relationship management, the Hero Group has been successful in creating a unique model of backward integration that has been recognized worldwide.
In 1995, Hero Corporate Service Private Limited was setup as a separate entity to provide specialized services to the group companies and ancillaries. The corporate services group has played a unique role in shaping the future of the Hero Group. Its primary role has been to provide services ranging from strategic advisory to complete Greenfield Project setup for the Dr. Brij Mohan Lall Munjal owned Hero Group.
In having created a warehouse of knowledge over the past few decades, Hero Corporate Service Private Limited (HCSPL) (formerly Hero Corporate Service Limited) has also been successful in its entrepreneurial ventures of business building in the business process outsourcing space, manufacturing, real estate space, insurance services, engineering, trade and other service areas.