 "India's real estate sector, significantly buoyed by a robust economy, has emerged as a pivotal player in the country's development. With an 18 per cent share in national employment, real estate is the largest employment generator after agriculture. C")
Real estate consultant Anarock Group revenue grew 33 per cent last fiscal to Rs 755 crore on better demand for residential and commercial properties, it's Chairman Anuj Puri said.
Mumbai-based Anarock had posted a revenue of Rs 566 crore in the 2023-24 financial year.
Home-grown Anarock was established by Anuj Puri in April 2017 after serving as country head for 10 years in a global property consultancy firm.
In an interview with PTI, Puri attributed the increase in the company's revenue to the overall India's economic growth, which is fuelling demand for residential and commercial properties from end users and investors alike.
He said the revenue from the consultancy services in the housing segment stood at around Rs 420 crore, which is about 56 per cent of the group's total turnover.
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 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
"Land deals and capital market transactions contributed significantly to the total revenue as developers were aggressive in land purchases and also fund raising to expand their businesses," Puri said.
Puri said the remaining revenue came from sale as well as leasing of office, retail and warehousing spaces; strategic consulting; project management; co-working platform, consultancy in hospitality segment; and society management mobile application.
Asked about the performance of office leasing consultancy services that it entered in April 2024, he said it has done exceptionally well, not only in building the team across 7-8 major cities but also in concluding many workspace leasing transactions.
About the housing demand scenario, Puri said the market was bit slow between January 1-March 15 period of this calendar year, but sales have picked up thereafter.
"We are consistently making efforts to identify hurdles in the Indian real estate market and then bringing the right solutions to address those pain points," the Anarock chairman said.
Puri said the Indian real estate market is becoming orgnaised and mature, benefiting both property developers and consultants.
Last year, Anarock raised Rs 200 crore from 360 One Asset Management Ltd to fund its overall business growth organically and inorganically.
"We have not used this fund so far. We are looking for acquisitions that can complement our businesses," he said.
Anarock Group currently has more than 2,300 employees operating across key tier-1 and 2 markets in India and the Middle East.
Puri said the employee strength will increase in line with expected growth in its business.
He sounded extremely bullish about the company's growth during the current fiscal as well, despite global economic uncertainties.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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