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 said Sunday.
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 organised property brokerage business, which has now come under the ambit of new realty law RERA.
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.
"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 emphasising the increasing importance of technology in real estate.
"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.
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.
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