 "anarock")
Real estate consultancy Anarock has raised Rs 200 crore from 360 ONE Asset Management Ltd (formerly known as IIFL Asset Management), one of India's largest alternate asset managers and part of the 360 ONE group. This group, a wealth and alternate-focused institution, manages over $54 billion in assets.
The funding aims to enhance Anarock's technology infrastructure, accelerate its expansion, and introduce innovations to strengthen its leadership in the Indian real estate services sector.
"We are thrilled to have 360 ONE Asset as our first equity investor. This investment will significantly contribute to keeping Anarock at the forefront of the industry by fuelling further innovation and growth," stated Anuj Puri, chairman of Anarock.
"This is the most opportune time to expand our reach and services. The Indian real estate sector is expected to account for 10-13 per cent of India's Gross Domestic Product by 2025, up from its current share of 7 per cent. We foresee strong and sustained growth for the industry over the next decade, with its potential market value exceeding $1 trillion by 2030. Anarock will lead the market with upgraded artificial intelligence and machine learning technologies to accelerate our developer clients' residential inventory sales," added Puri.
Anarock mentioned that 360 ONE Asset is their first equity investor. Additionally, the firm stated that the partnership with the investor would reflect the economic and financial growth of India across all real estate sectors.
"We are delighted to be the first equity investor for Anarock. In Anarock, we see a top-class management team, premier marketing and advisory capabilities, and a clear leader in India's large and growing real estate services sector. We have also been impressed by the tech infrastructure and innovative platforms being built by the company," said Sameer Nath, chief investment officer and head of Venture Capital & Private Equity at 360 ONE Asset.
