 "Anarock's FY22 revenue up 32% on recovery in housing demand: Chairman Puri")
Home-grown real estate consultant Anarock has achieved a 32 per cent growth in its revenue at Rs 402 crore during the last fiscal year owing to a sharp recovery in housing demand post second wave of the Covid pandemic, its chairman Anuj Puri said.
Anarock, one of the leading housing brokerage firm in India, was established by Anuj Puri in April 2017. Before setting up his own firm, Puri had served as chairman and country head at a global property consultancy firm for 10 years.
In an interview with PTI, Puri said the company has achieved a strong growth in revenue despite the pandemic.
"Our revenue has grown to Rs 402 crore during the last fiscal from Rs 305 crore in the 2020-21 financial year," he said.
Puri noted that the company benefited from the consolidation in the real estate sector.
Anarock group, including its arm Trespect and affordable housing division, facilitated sale of 18,800 units worth Rs 19,260 crore on behalf of real estate developers during the 2021-22 fiscal.
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"Confidence of users of real estate is rapidly returning. At Anarock, we are benefiting through hard work focusing on our clients, our people, returns to our stakeholders and achieving a common vision of excellence," Puri observed.
Out of the total revenue posted in the last fiscal, he said the housing brokerage services contributed around Rs 300 crore.
The company also earned revenue by facilitating leasing and outright sale/purchase transactions in office, retail, warehousing and data centre segments. It also facilitated various land deals.
Moreover, Puri said the company's capital market division performed well and helped real estate companies in raising funds.
Talking about the residential market, he highlighted that the demand recovered sharply after the second wave of the pandemic that hit India during April-May 2021.
Historical low interest rates on home loans coupled with stable housing prices during the last 5-7 years improved the affordability of buying apartments, Puri observed.
Of late, he said, there has been an increase in demand for bigger apartments as people need extra space for work from home and study purposes.
Puri said the Indian real estate over the last two years has been witnessing a huge consolidation of demand towards those developers who have impeccable track record of execution of projects.
He said the demand for office and retail spaces has also improved significantly.
The growth of e-commerce is helping in creating demand for warehouses and data centres.
Anarock, which has its presence across India and the Middle East, uses its proprietary technology platform to accelerate marketing and sales.
Its services include residential broking; retail (in partnership with Vindico); commercial; hospitality (via HVS Anarock); land services; industrial and logistics (in partnership with Binswanger); investment management; research; strategic advisory & valuations; project management services (in partnership with Mace); and society management services (through ApnaComplex).
In April Anarock acquired flexible workspace platform myHQ.
Anarock has a team of around 1,800 real estate professionals having presence across all major Indian cities like Mumbai, Pune, Ahmedabad, Delhi-NCR, Chennai, Bengaluru, Hyderabad, Kolkata and Lucknow. It has offices in the Middle East markets as well.