CRE Matrix refutes data theft allegations by Delhi-based PropEquity

CRE Matrix denies the allegations of data theft, calling them unfounded, while PropEquity moves the Delhi High Court seeking damages and an injunction

Real estate analytics firm CRE Matrix has refuted allegations of data theft by Delhi-based PropEquity, calling the claims unfounded and an attempt to tarnish its reputation.

 

This comes after Delhi-based PropEquity, operated by PE Analytics Limited, alleged glaring similarities and almost identical figures in the primary residential data segment reported by CRE Matrix in its “India Housing Report” published in May 2025. The firm has moved the Delhi High Court against CRE Matrix, seeking a permanent injunction and damages of Rs 8 crore on account of the alleged data theft.

 

“We categorically deny any wrongdoing. These repeated attempts to weaponise the legal process against us only highlight the growing insecurity of a legacy player unable to keep pace with innovation and client expectations,” CRE Matrix said in its response to Business Standard.

 

 

A single-judge bench of Justice Manmeet PS Arora of the Delhi High Court has issued summons to Bhugol Analytics Private Limited (trading as CRE Matrix), its directors, and some employees, in an order dated 24 July, released on Wednesday.

 

The court also granted time to the defendants to file their written statements and posted the matter for hearing on 19 September.

 

CRE Matrix said that it is prepared to pursue appropriate legal remedies to protect its name, people, and business.

 

“We are actively engaged with our lawyers to respond to the false and malicious allegations set out by PE Analytics, including but not limited to issuing a cease and desist notice to them,” the firm told Business Standard.

 

CRE Matrix, however, alleged that PE Analytics has previously attempted to impede its progress through various means, including unsolicited merger discussions, coercive proposals, intimidation of its founders and employees, and undue pressure on its institutional investors.

 

“Despite these tactics, we have remained focused on building a transparent, ethical, and high-performance organisation,” the company added. 

Case file

  -  PropEquity alleged glaring similarities in primary residential data reported by CRE Matrix in its report

  -  Firm moved the Delhi High Court against CRE Matrix seeking a permanent injunction  

  -  CRE Matrix said that it was prepared to pursue appropriate legal remedies