Real estate consultancy firm Anarock announced a successful equity funding round, raising INR 200 crore (USD 25 million) from 360 One Asset Management to fuel its business expansion amid robust consumer demand in the real estate market.
In a statement to PTI, Anarock Chairman Anuj Puri stated, “We have secured INR 200 crore in equity funding from 360 One Asset. The funds will be allocated towards expanding our business operations and implementing technological upgrades to enhance client services.”
Puri highlighted that 360 One Asset Management, previously known as IIFL Asset Management, marks Anarock’s inaugural equity investor. However, specific details regarding the equity stake dilution were not disclosed.
Founded by Anuj Puri in April 2017, Anarock reported a revenue of INR 440 crore in the last fiscal year and anticipates a 30% growth in the current fiscal, reaching approximately INR 575 crore, driven by the surge in housing demand.
The equity infusion is expected to bolster Anarock’s technological infrastructure, accelerate its expansion plans, and drive innovation. Anarock aims to solidify its market share in India’s real estate services sector.
Anarock envisions utilizing the investment to refine its proprietary proptech platforms and expedite business expansion. Puri emphasized the company’s commitment to exploring new high-growth business opportunities.
Puri stated, “This investment positions Anarock at the forefront of the industry by fostering further innovation and growth.”
The funds are specifically earmarked for rapid business expansion and refining the company’s proptech platforms. Puri asserted, “We will continue to explore new high-growth business opportunities.”
Timing is considered optimal for Anarock’s expansion, aligning with projections that the Indian real estate sector is poised to surpass the $1 trillion mark by 2030.
360 One Asset Management, a part of the 360 ONE group with over $54 billion in assets under management, expressed confidence in Anarock’s management team and its premier marketing and advisory capabilities.
Anarock plans to leverage upgraded AI/ML technologies to accelerate residential inventory sales for its developer clients. Sameer Nath, Chief Investment Officer at 360 One Asset, noted Anarock’s leadership in India’s real estate services sector.
Rohin Shah, Director & Co-Founder of Anarock, expressed excitement about the partnership leveraging their 30 years of experience in the Indian real estate market.
Anarock’s primary focus remains on research and technology-driven marketing and sales of real estate across major sectors, serving developers, investors, and occupiers. The firm has a presence in major cities in India and the Middle East, boasting a team of over 2,200 professionals.
Last month, Anarock anticipated a revenue of around INR 575 crore for the fiscal year, with residential property sales contributing INR 400 crore. The company also expects significant revenue from consultancy services in non-residential segments.
During the previous fiscal year, Anarock facilitated the sale of 18,500 housing units worth approximately INR 20,000 crore.
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By Ravi Kumar
