Reloy's revenue up 65% to Rs 21 cr in FY24, referral sales hit Rs 1,450 cr

HDFC Capital-backed proptech startup Reloy, which helps builders in generating referral sales, has posted a 65 per cent growth in its revenue last fiscal to Rs 21 crore on strong housing demand.

The company's revenue stood at Rs 12.7 crore in the 2022-23 fiscal.

"Our growth is on account of higher referral sales and client acquisitions," Reloy founder and CEO Akhil Saraf told PTI.

"We helped builders in generating Rs 1,450 crore worth of referral sales in the last fiscal," Saraf said.

The company has set a target to generate Rs 3,500 crore worth of referral sales in the current fiscal.

Founded in 2015, Reloy has been specialising in real estate loyalty and referrals. It is a B2B2C homeowner and broker management platform that helps builders manage their builders and brokers more efficiently.

Reloy has so far raised Rs 13 crore from various investors, including HDFC Capital, which owns around 10 per cent stake in the startup.

Last year, it raised Rs 7.2 crore from investors to expand its business.

In a pre-series A2 funding round last year, all the existing investors of Reloy participated, along with new investors like BlueLotus VC and Dream Green Capital.

In February 2022, the company raised Rs 5.9 crore from investors.

"Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home finance," Saraf said.

Its clientele include Godrej Properties, DLF, M3M, Shapoorji Pallonji Real Estate, Kolte Patil, Embassy Residential, Mahindra Lifespaces, K Raheja Corp, Brigade, Piramal, Rohan Builders, L&T Realty, Smartworld, BPTP and Purti Realty, among others.

The company helps homeowners in post-purchase exercises like document management, construction tracking, and payments. It also creates a marketplace for other connected needs of home interiors and home finance.

Founded in 2015, Reloy has been specialising in real estate loyalty and referrals.

Recently, Reloy launched 'Connectre 4.0', the latest version of its referral app.

With the introduction of this upgraded platform, builders can now create a seamless experience from site visit to possession.

Saraf said the upgraded app empowers users to navigate their homebuying journey effortlessly, fostering loyalty and driving referrals at every stage.