REA India's income rose by 31% in the fiscal year ending in June, reaching Rs 563 crore, operated by strong demand for residential properties, according to CEO Dhruv Agarwala. A division of Australia's publicly listed REA Group, REA India is a diverse real estate technology company that owns Housing.com, Makaan.com, and the housing brokerage PropTiger.
The company's income was roughly Rs 430 crore in the fiscal year 2022-23 (July-June). Discuing on the performance, Agarwala stated, "FY24 has been a year of substantial growth and innovation for us. The success of our online events, which set new collection records, underscores our strong market position and the effectiveness of our strategy." He also said that the vogue of the company's new products and revolution among customers and home seekers has notably boosted sales.
"Our commitment to an app-first strategy has been a key driver behind enhanced consumer engagement, personalized services, and a superlative consumer experience. This focus on digital channels has resulted in a 45 per cent growth in app traffic during the second half of last fiscal," he said.
In December 2020, Australia's REA Group obtained a major stake in Elara Technologies, the former owner of these three portals, and rebranded it as REA India.
Housing.com, established in 2012, is a proptech platform serving homeowners, home seekers, landlords, developers, and real estate brokers, offering listings for new homes, resale properties, rentals, plots, commercial spaces, and co-living arrangements in India. PropTiger.com, founded in 2011, is a housing brokerage firm, while Makaan.com works as an advertising platform.
