PropTiger.com to hire 1,000 employees this fiscal

Rupert Murdoch-backed real estate portal PropTiger.Com plans to hire about 1,000 employees in this fiscal for expanding its presence in 25 cities across the country.

The Noida-based firm, which was founded in February 2011, helps customers through the entire process of buying a home, including search, property identification, price negotiation, documentation, home loan facilitation and post sales services.

It has eight offices in the country with employee strength of around 500. Since 2011, around 12,000 homes worth USD 1.2 billion have been purchased through PropTiger's platform.

"We expect that the market conditions will improve in the next few months because of interest rates cut and also some softening of housing prices. Therefore, we intend to build capacity to take advantage of that," PropTiger.Com co-founder Dhruv Agarwala told PTI.

"We are looking to expand our team from 500 to 1,500 over the next 12 months. Large number of these would be in technology, product and sales," he said, adding that hiring would be at all levels.

Agarwala said the company plans to expand presence in 25 cities in this fiscal from 8 cities at present.

"With recent acquisition of a design company Out of Box Interaction (OoBI) and Makaan.Com, one can expect a lot of innovations in products and service over the next few months," he said.

Last month, PropTiger acquired rival Makaan.Com for an undisclosed amount as it aims to ramp up presence in India's secondary property market. For the time being, both PropTiger.Com and Makaan.Com portals would run separately.

In November 2014, News Corp took a 25 per cent stake in Singapore-based Elara Technologies Pte Ltd which owns PropTiger.Com.

PropTiger also provides real estate consulting and data services to real estate developers, private equity investors and banks.