NEW DELHI:Property brokerage firm 360 Realtors’ revenue more than doubled to Rs 104 crore last fiscal year by facilitating sales of over 4,000 housing and commercial units, its top official has said. With signs of revival in housing demand, the Gurugram-based firm, having a sales force of more than 1,000 people, has set an aggressive target of facilitating deals of about 7,500 units this fiscal year.
360 Realtors competes with the likes of PropTiger.com, ANAROCK and Square Yards in the organized property brokerage business, which has now come under the ambit of new realty law RERA. “We sold 4,023 units worth Rs 2,682 crore during 2017-18, which was more than double from the previous fiscal,” the company’s founder and MD Ankit Kansal told PTI. In the 2016-17 fiscal year, he said the company had sold 1,732 units worth Rs 1,221 crore.
Its brokerage income also more than doubled to Rs 104 crore from Rs 46 crore during the review period. Asked about the current fiscal, Kansal said: “We have achieved a good number in the first quarter and sold more than 1,300 units valuing Rs 1,100 core.” The target is to sell 7,500 units worth Rs 5,000 crore in the entire current financial year, he added.
“We expect our revenue to cross Rs 200 crore in 2018-19,” Kansal said. The company has more than 50 offices across India and overseas for facilitating property sales on behalf of real estate developers. It helps buyers to choose right property in right locations. “We only work with reputed developers having good track record of execution. The leads are generated both through online and offline routes,” he said, while emphasizing the increasing importance of technology in real estate.
As the name of the company suggests, Kansal said it is trying to provide 360-degree solution to customers by offering services like home loans assistance, legal and interiors. “The other services have very little contribution of 3-4 per cent in our overall revenue. But we want to grow these segments as well,” he said. Asked about geographies that contribute most to its sales, Kansal said west India has a share of 30 per cent, while south and north/east account for 20 per cent each. The remaining 30 per cent of sales come from NRIs. Among its competitors, Square Yards, which is backed by Anil Ambani-led Reliance group, posted a revenue of Rs 156 crore during last fiscal while Anuj Puri-promoted ANAROCK clocked a revenue of about Rs 100 crore in 2017-18. News Corp-backed PropTiger.com has not shared its revenue number. PTI
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