 "Proptech startup Reloy sees 40% revenue growth to Rs 25 cr on strong demand")
HDFC Capital-backed Proptech startup Reloy, which helps builders generate referral sales, is likely to achieve nearly 40 per cent revenue growth to Rs 25 crore this fiscal on strong housing demand.
"We have now cracked the code on referral sales and are replicating this across all our clients. This is also backed by new client wins," Reloy founder and CEO Akhil Saraf told PTI.
During the last financial year, Reloy had helped builders in generating Rs 1,450 crore worth of referral sales. The number will be higher in the current 2024-25 fiscal.
Saraf noted that the company has benefited from a strong revival of housing demand post-COVID.
"The demand continues to be strong, especially for reputed builders who have a good track record of delivering projects on time," Saraf said.
Founded in 2015, Reloy has been specialising in real estate loyalty and referrals. It is a B2B2C homeowner and broker management platform that helps builders manage their builders and brokers more efficiently. Reloy has so far raised Rs 13 crore from various investors, including HDFC Capital, which owns around 10 per cent stake in the startup.
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The tech solutions offered by the company streamline the post-purchase journey of homeowners.
Reloy rewards homeowners with benefits across ancillary requirements of home interiors and home finance.
Its clientele include Godrej Properties, DLF, M3M, Shapoorji Pallonji Real Estate, Kolte Patil, Embassy Residential, Mahindra Lifespaces, K Raheja Corp, Brigade, Piramal, Rohan Builders, L&T Realty, Smartworld, BPTP and Purti Realty, among others.
Reloy helps homeowners in post-purchase exercises like document management, construction tracking, and payments. It also creates a marketplace for other connected needs of home interiors and home finance.
According to CREDAI and EY recent report, the Proptech market size is estimated to jump multifold to around USD 600 billion by 2047 from the current USD 10.5 billion due to the rise in the use of technology in the real estate sector.