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Proptech startup Reloy sees 40% revenue growth to Rs 25 crore this fiscal on strong housing demand

Economic Times

Economic Times · 8m ago

Proptech startup Reloy sees 40% revenue growth to Rs 25 crore this fiscal on strong housing demand

Proptech startup Reloy, backed by HDFC Capital, is projected to achieve a 40% revenue growth to Rs 25 crore this fiscal year due to strong housing demand. Reloy specializes in real estate loyalty and referrals, helping builders manage their brokers and homeowners efficiently. The company has raised Rs 13 crore from investors and offers tech solutions that streamline the post-purchase journey for homeowners. Reloy's clients include prominent builders such as Godrej Properties and DLF. The Proptech market is expected to reach $600 billion by 2047, according to a CREDAI and EY report.

Related News

Housing.com parent firm REA India's revenue rises 46% to over Rs 430 crore

Economic Times

Economic Times · 1y ago

Housing.com parent firm REA India's revenue rises 46% to over Rs 430 crore

Indian proptech firm REA India, which owns real estate portals Housing.com, PropTiger, and Makaan.com, reported a 46% increase in revenue to over INR 430 crore (around $58 million) for the fiscal year ending June 2023, compared to nearly INR 300 crore in the previous fiscal year. The revenue surge was attributed to increased housing demand and greater adoption of technology in the real estate sector. Most of the revenue came from Housing.com, which has experienced significant traffic growth, driven by increased digital adoption and demand for homeownership amid the pandemic.

Mygate boosts revenue by 35% and cuts losses by 82% in FY24

Economic Times

Economic Times · 9m ago

Mygate boosts revenue by 35% and cuts losses by 82% in FY24

Bengaluru-based housing society management app Mygate reported a 35% increase in operating revenue, reaching Rs 96 crore in the fiscal year ending March 31. The company's consolidated net loss shrunk by 82% to Rs 40 crore, attributed to a 51% reduction in total expenses. Mygate's revenue mainly comes from subscriptions from resident welfare associations and advertising partnerships with brands. The company's app is used by over 4 million residents across 25,000 housing societies in India. Mygate has expanded into the insurance distribution business and introduced smart door locks for home security.

DLF to invest Rs 5500cr to build new luxury housing project in Gurugram

Economic Times

Economic Times · 1m ago

DLF to invest Rs 5500cr to build new luxury housing project in Gurugram

DLF Ltd plans to invest Rs 5,500 crore in a new luxury housing project, "DLF Privana North," in Gurugram. Comprising over 1,150 apartments on an 18-acre land, this project is part of the larger 116-acre "DLF Privana" township. DLF aims to achieve record sales bookings amid strong luxury home demand, following the successful sale of previous projects within the same township totaling Rs 12,800 crore. The company anticipates strong growth and sustained housing demand.

Square Yards posts Rs 261 Cr revenue in Q1 FY25; projects Rs 1,500 Cr in FY25

Entrackr

Entrackr · 11m ago

Square Yards posts Rs 261 Cr revenue in Q1 FY25; projects Rs 1,500 Cr in FY25

Proptech firm Square Yards has announced its results for the first quarter of the ongoing fiscal year. The Gurugram-based company saw a 52% increase in its revenue during Q1 FY25 compared to Q1 FY24. Square Yards’ revenue from operations surged to Rs 261 crore in Q1 FY25, with a gross transaction value of Rs 10,053 crore, compared to Rs 172 crore in revenue and a gross transaction value of Rs 6,674 crore in Q1 FY24, the company said in a press release. In the fiscal year ending March 2024, the company reported revenue of Rs 1,004 crore with EBITDA profitability. However, the net losses of Square Yards stood at Rs 216 crore FY24. Income from financial services along with real estate services formed 83% of the total operating revenue for Square Yards which increased 48% and 61% YoY respectively. The press release added that its digital services also saw an impressive growth of 145% in the same period. Square Yards is a full-stack proptech platform, playing the entire consumer journey including search, discovery, transactions, mortgages, home furnishing, rentals, and property management. The company claims to have more than 8 million monthly traffic and approximately $5 billion GTV with a presence in more than 100 cities across 9 countries. In the first quarter of the current fiscal year (Q1 FY25), Square Yards reported a gross profit of Rs 25 crore with a negative EBITDA margin of Rs 32 crore, compared to a gross profit of Rs 15 crore and a negative EBITDA margin of Rs 29 crore in Q1 FY24. The company has projected Rs 1,506 crore revenue in the full year of FY25 up from Rs 1,004 crore in FY24 with a positive EBITDA of Rs 101 crore.

Reliance posts record Rs 21,930 Cr profit as Jio, retail fuel growth

YourStory

YourStory · 6m ago

Reliance posts record Rs 21,930 Cr profit as Jio, retail fuel growth

Reliance Industries Ltd reported a record net profit of Rs 21,930 crore for Q3 of fiscal 2024-25, boosted by performances in retail and telecom. Consolidated revenue rose 7.7% to Rs 2,67,186 crore. Reliance Jio's profit increased by 25.9%, with revenue up by 19.2%. Reliance Retail's profit grew by 10.1%, with revenue up by 8.8%, driven by new stores and festive demand. The O2C segment's revenue modestly increased by 6% amid weaker refining margins.

Proptech firm Square Yards turns operationally profitable as FY25 revenue jumps 40%

VCCircle

VCCircle · 2m ago

Proptech firm Square Yards turns operationally profitable as FY25 revenue jumps 40%

Square Yards, a real estate marketplace supported by Kae Capital and Times Group, reported operational profitability in FY25 as its revenue jumped 40% to Rs 1,410 crore ($170 million). The proptech firm, led by CEO Tanuj Shori, achieved an EBITDA of Rs 46 crore and gross profit growth of 52%. With operations in multiple countries, Square Yards forecasts a significant EBITDA increase and sustained revenue growth for FY26.

LIC Housing Finance plans to raise funds through green bonds in FY25

Livemint

Livemint · 1y ago

LIC Housing Finance plans to raise funds through green bonds in FY25

LIC Housing Finance Ltd (LICHFL) plans to raise funds through green bonds in the next financial year to finance environmentally-sustainable housing projects. The company aims to hit a net profit of ₹5,000 crore by the end of the current financial year, driven by strong loan demand and expansion in non-core businesses. LICHFL is focusing on affordable housing loans and aims to double the share of these loans to 20-25% in its loan book over the next two years. The company has reported a net interest margin of 3% for the third quarter.

Home loan outstanding up by Rs 10 lakh crore in last 2 years; reaches Rs 27 lakh crore in March: RBI data

Money Control

Money Control · 1y ago

Home loan outstanding up by Rs 10 lakh crore in last 2 years; reaches Rs 27 lakh crore in March: RBI data

Outstanding credit to the housing sector in India has increased by nearly Rs 10 lakh crore in the last two fiscal years, reaching a record high of Rs 27.23 lakh crore in March 2024. This growth is attributed to a strong revival in the residential property market following the COVID-19 pandemic. The data indicates a surge in housing sales and prices, particularly in the affordable housing segment. Experts predict that the trend will continue with robust growth in home loans, although it may taper down slightly due to a higher base. The Indian real estate sector is expected to reach a $1 trillion milestone by 2030.

Ixigo reports strong growth with 73% surge in revenue, net profit rises to Rs 19 crore - The Economic Times

Economic Times

Economic Times · 21d ago

Ixigo reports strong growth with 73% surge in revenue, net profit rises to Rs 19 crore - The Economic Times

Ixigo reported a 73% year-on-year increase in operating revenue, reaching Rs 314 crore, driven by strong travel demand and digital bookings. Net profit rose to Rs 19 crore, up from Rs 15 crore in Q1 FY25.

Funding in proptech firms down 4% in FY24 to $657M: Housing.com

YourStory

YourStory · 1y ago

Funding in proptech firms down 4% in FY24 to $657M: Housing.com

Funding in proptech firms experienced a slight decline of 4% to $657 million in the last fiscal year, according to Housing.com. However, this figure reflects resilience in the sector amid global economic uncertainties. Proptech firms have raised a total of $4.6 billion between 2010-11 and 2023-24, growing at a CAGR of 40%. The average deal size in 2023-24 reached a record $27 million, indicating strong investor confidence. The shared economy and construction technology segments attracted the most investment, capturing 55% and 23% of private investments respectively. Despite challenges, the proptech sector is expected to continue advancing and driving efficiencies in the real estate market.

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