Property brokerage firm Investors Clinic Monday reported over two-fold jump in revenue to Rs 225 crore during last financial year as it facilitated sales of housing and commercial units worth Rs 6,000 crore.
The Noida-based firm sold 11,621 units worth Rs 6,000 crore during 2018-19 as against 4,500 units worth Rs 2,180 crore in the previous year.
"This has led to revenue growth of 119 per cent in the last fiscal standing at Rs 225 crore," the company said in a statement.
Investors Clinic's revenue stood at Rs 102.97 crore in 2017-18.
Established in 2006, Investors Clinic currently has 22 offices across India as well as in Dubai and Singapore.
The company is planning to open another 25 offices at new locations in India and overseas this fiscal year. It plans to enter the UAE, Australia and the US markets to tap NRIs' demand.
Also Read
Investors Clinic plans to invest funds in upgrading software technology (AI & Machine learning) to increase sales conversion ratio.
"In terms of growth, the year 2018-2019 was good for us," said Honey Katiyal, Founder, Investors Clinic.
He said the company focuses on improving its client servicing as it gets 20-25 per cent of new customers through references from existing customers.
Investors Clinic competes with the likes of PropTiger.com, Anarock, 360 Realtors, Square Yards and Wealth Clinic in the organised housing brokerage business.
Property brokerage firm Anarock's revenue doubled to Rs 188 crore in 2018-19 and the company turned profitable in the second year of operation on improved housing demand and increasing reliance of buyers on organised brokers.
Square Yards, which is backed by Anil Ambani led-Reliance Group, posted 38 per cent revenue growth in 2018-19 at Rs 220 crore.
Disclaimer: No Business Standard Journalist was involved in creation of this content