who we are

HV Holdings Ltd operates in Mauritius and Madagascar. With more than 2,500 employees, the Group is among the Top 100 companies in the Indian Ocean. HV Holdings Ltd is actively involved in the International trade, Retail & Distribution and Property sectors

our journey

Hematlal Veljee started his business in the 1970s, specialising in the trade of textile and haberdashery in Antananarivo, Madagascar, his homeland. Driven by his passion for the profession, he demonstrated perseverance despite all the challenges faced at the time.

Later, in the 1990s, he was joined by his two sons, Sanjeev and Roupesh. Their father’s excellent reputation gave them access to the necessary resources to develop the family business, diversify their activities while remaining attentive to market needs and customers’ expectations. After the demise of Hematlal Veljee in 2001, Sanjeev and Roupesh moved to Mauritius, where they set up HV International Ltd, in memory of their father. Since then, the Group has strengthened its market position by perfecting and growing its core business activities and adapting to new market trends.

The values of resilience and simplicity passed on by Hematlal Veljee helped transform what was originally a simple shop into a well-established conglomerate.

In 2022, led by the rapid growth in the manufacturing and trading clusters, Sanjeev and Roupesh decided to restructure the activities into two holding companies: HV Industries Ltd regroups all the manufacturing entities in Madagascar under Sanjeev’s direction, while Roupesh oversees the other entities under HV Holdings Ltd.

The historic FMCG distribution activities as well as property development in Madagascar are jointly managed by the two brothers. Both HV Industries Ltd and HV Holdings Ltd remain committed to their social engagements on the respective territories through The Hematlal Veljee Foundation.


Hematlal Veljee started his business in the 1970s, specialising in the trade of textile and haberdashery in Antananarivo, Madagascar.


The two sons Sanjeev and Roupesh joined the business and started its diversification.


Demise of Hematlal Veljee, following which the Hematlal brothers relocated to Mauritius and started their business activities on the island with the creation of HV International Ltd.  

Launch of UCODIS in Madagascar with a new management team. The main objective of UCODIS was to distribute products imported through HV International Ltd.


Creation of AURS, a Consumer Electronics distribution company, in Mauritius. 


Incorporation of HV Holdings Ltd in Mauritius as the Group begins its expansion in diverse areas.

Creation of UNIBISC in Madagascar, a biscuit manufacturing plant. This would lay the foundation of the Manufacturing cluster which developed with the setting up of other industrial production units manufacturing cakes, noodles, snacks, dairy products, juice, detergent, soap, packaging, etc.


Creation of HV Property Management Ltd and venture in the property sector in Mauritius with key investments: Grand Baie La Croisette, 1Cybercity, Flacq Retail Park, among others.


Setting up of UDITEC following a distribution agreement with SAMSUNG and launching of COSMOS retail brand dealing in Consumer Electronics and Furniture in Madagascar.


Successful debut in the franchise development sector with the ORCHESTRA brand in joint venture with the franchisor, which was followed by the acquisition of other franchise brands such as La Foir’Fouille and King Jouet.


Establishment of HV Home Equipment Ltd and acquisition of Le Warehouse Ltd (representing the 361 retail brand). 

Creation of MIRINDRA, an in-house hire purchase solution by COSMOS Madagascar.


Incorporation of HV Lifestyle Ltd for the development and management of various franchise brands, and 100% ownership of ORCHESTRA in Mauritius.


Group restructuring  leading to the creation of subsidiaries to support new business model of segmentation of Mauritius and Madagascar operations, while maintaining the synergy gained from 20 years of operations.


Creation of HV Retail & Distribution Ltd, a merger of HV Lifestyle Ltd and Le Warehouse Ltd regrouping more than 50 showrooms in Mauritius.

making everyday
life better!

purpose & values

HV Holdings Ltd is more than just brands and business. Our aim is to create valuable enterprises with a focus on providing quality products and services. We aspire to be an employer of choice and to build long-lasting relationships with our stakeholders. We work hard to honour our purpose of “making everyday life better”.

We put our values into practice on a daily basis. As one team with diverse backgrounds and ideas, working towards a common purpose, we believe that togetherness is one of our strongest values. We are open and respectful towards differing points of view and we strive for excellence in everything that we do. We are determined to make things happen, work towards our goals and fulfill our purpose.

Given the extent of our business activities, we are acutely aware and concerned about the environment, which is why we are focused in improving our sustainable actions towards preservation. As we grow in size and business operations, our concern towards the maintenance and improvement of life in general is proportional.

our commitment