Anarock revenue may rise 30% to Rs 575 cr in FY24 on strong housing demand

Property consultant Anarock is expecting a 30 per cent growth in its revenue this fiscal year to around Rs 575 crore mainly driven by strong housing sales, its Chairman Anuj Puri said.

Anarock, one of the leading real estate consultancy firms in India, was established by Puri in April 2017.

"Our revenue will easily cross Rs 550 crore this financial year and may touch Rs 575 crore," Puri told PTI.

Out of the total estimated revenue in 2023-24 fiscal, he said around Rs 400 crore will come from sales of residential properties on behalf of builders.

Puri said residential sales in primary market (first sale) touched an all-time high in 2023 calendar year. The demand remains strong across all price points.

"We expect demand to sustain in 2024 and beyond," he said, but cautioned that sales would be hit in case of abnormal price rise.

Puri said the company also expects significant revenue from consultancy services in non-residential segments like leasing of retail and warehousing spaces, land deals and capital market transactions.

In the previous year, Anarock had posted a revenue of Rs 440 crore.

It had facilitated sales of 18,500 housing units worth about Rs 20,000 crore during the previous fiscal.

Anarock has a presence across major cities in India and the Middle East. It has more than 2,200 employees.

The company deploys its proprietary technology platform to accelerate marketing and sales on behalf of its clients.

Over the last six years, Anarock has expanded from being a residential-focused organization to complementary sectors including retail, commercial, hospitality, logistics & data centres, industrial and land.

The firm also specialises in strategic advisory, investment banking, research & valuations and offers app-based flexible workspaces and society management services.