Housing.com

REA India FY24 results: Revenue up 31% at Rs 563 cr on strong demand

PropTech startup REA India, which owns Housing.com platform, clocked a revenue of Rs 563 crore, up 31 per cent in the last fiscal ended June, helped by strong demand of residential properties, its CEO Dhruv Agarwala said. REA India, which is part of Australia's publicly listed firm REA, is a full-stack real estate technology firm and owns two online classified advertisement platforms Housing.com and Makaan.com, as well as housing brokerage firm PropTiger. Commenting on the performance of last fiscal, Agarwala said the company's revenue grew 31 per cent to Rs 563 crore in 2023-24 fiscal (July-June), from Rs 430 crore in the preceding year. He noted that the revenue of advertising platform Housing.com and property brokerage arm PropTiger increased by 25 per cent to 68 million australian dollar (AUD) from AUD 55 million. Its revenue from adjacency products and services like movers & packers by 46 per cent to AUD 35 million from AUD 24 million. Agarwala said the company's losses at ..

Naredco suggests raising tax relief on home loan interest to Rs 5 lakh

Realtors' body NAREDCO on Tuesday suggested that the tax exemption on interest on self-occupied property loans should be increased to Rs 5 lakh in the upcoming budget from Rs 2 lakh currently to boost housing demand amid a rise in housing prices and mortgage rates. Builders also sought some tax incentives to boost demand and supply of affordable homes. NAREDCO noted that under Section 24 of the Income Tax Act, the deduction allowed on interest on loans for self-occupied property is limited to Rs 2 lakh. "Given the rising property prices and interest rates, NAREDCO proposes increasing this limit to at least Rs 5 lakh," the association said in a statement. The realtors' body mentioned that currently the annual value of property held as stock-in-trade and not let out is considered nil for up to two years from the end of the financial year in which the construction completion certificate is obtained. After this period, the notional income is taxed. It suggested that this provision sho

Housing.com not actively seeking acquisition, open for opportunities: CEO

Proptech firm REA India, which owns Housing.com and PropTiger, is not actively looking for acquisition for further growth but the company is open to evaluate "interesting" opportunities that complement the business or help in securing new technologies, its CEO Dhruv Agarwala said. REA India, which is part of Australia-based REA Group, will focus on consolidating its both businesses -- real estate classified platform Housing.com and residential brokerage portal PropTiger.com, he added. In an interview with PTI, Agarwala, who is also CEO of Housing.com and PropTiger, said there is no plan of acquisition in near future. However, he said, "We always remain open if there is an interesting opportunity, which might help us bring in better talent or help us fulfill a product gap like we did for mortgage, or if we see an interesting technology. In that sense we are open, but not sort of actively seeking acquisitions.. He emphasised that the focus would be on growth of existing businesses, m

Housing.com's parent firm REA India's revenue rises 21% in Jul-Dec: CEO

Revenue of REA India -- owner of Housing.com and PropTiger -- rose 21 per cent to Rs 238 crore during latest July-December period on strong demand of residential properties, its CEO Dhruv Agarwala said. The company would continue to invest in new products, technologies and branding-marketing activities to further grow its business and establish a significant lead against competitors, he said. REA India, which is part of Australia's publicly listed firm REA, is a full-stack real estate technology firm and owns two online classified advertisement platforms Housing.com and Makaan.com as well as housing brokerage PropTiger. In an interview with PTI, Agarwala said the company posted a 21 per cent growth in revenue to 44 million Australian dollars (nearly Rs 240 crore) during July-December period of the 2023-24 fiscal year ending June. In the year-ago period, the revenue stood at AUD (Australian dollar) 36 million. Agarwala highlighted that revenue from its core business, advertising an

Housing.com ties up with BOXX to provide insurance plan from cyber fraud

Real estate portal Housing.com on Monday said it has tied up with global insurtech player BOXX to offer cyber security plan for protecting its customers from digital fraud. This collaboration aims to provide digital security for Indian homebuyers by introducing the comprehensive 'Cyber Protect' plan. "With support from BOXX and Bajaj Allianz General Insurance, the plan empowers customers to safeguard their digital lives and secure them against digital fraud -- all for an affordable monthly premium of just Rs 199," Housing.com said in a statement. This added safeguard protects financial transactions and contributes to an overall secure online environment. Established in 2012 and later acquired by REA India in 2017, Housing.com is a prop-tech platform for homeowners, home seekers, landlords, developers, and real estate brokers. New homes, resale homes, rentals, plots, commercial spaces, and co-living spaces are listed on its platform.

Mumbai Police EOW lodges FIR against Rahul Yadav, issues lookout notice

The complainant in the case is Rajasthan-based Vikas Om Prakas Noval, a Rajasthan-based director of the Interspace Communication Private Limited

Housing.com partners with FinBox to offer instant loans up to Rs 10 lakh

Once the application is approved, applicants receive instant loan offers, with funds typically disbursed within 24 hours

Housing.com sees 4-fold jump in monthly traffic from pre-Covid level: CEO

Proptech firm Housing.com has seen a four-fold jump in monthly traffic on its website to over 20 million compared to pre-COVID level on demand revival and fast adoption of digital tools in the realty sector, its CEO Dhruv Agarwala said. Housing.com, owned by Australia's REA Group and US-based News Corp, is one of the leading real estate classified portals in India. REA India runs three portals --Housing.com, PropTiger and Makaan.com. In an interview with PTI, REA India CEO Dhruv Agarwala also attributed the growth in traffic in the past three years to investments made in branding, advertising and marketing activities. A surge in traffic on Housing.com has helped in a sharp rise in the overall revenue of REA India during the 2021-22 fiscal (July-June) and the current financial year, he said. Agarwala projected that losses of REA India will start coming down from the 2023-24 fiscal starting July. Turnover of REA India rose 92 per cent during the 2021-22 fiscal to nearly Rs 300 cror

Housing.com and Niro come together to offer facility to pay rent on credit

Proptech firm Housing.com has tied up with fintech startup Niro to offer customers the facility to pay their rent on credit. Housing.com, which is part of Australian firm REA, has started this credit solution -- Rent Now Pay Later (RNPL) service, in partnership with Bengaluru-based Niro. "Now, rent can be paid on Housing.com by users with a zero-convenience fee, an interest-free credit period of up to 40 days, as well as an option to convert rent payments into easy monthly instalments (EMIs)," the company said in a statement. Housing.com had earlier started offering customers the facility to pay rent using credit cards. "However, given that only 4 per cent of Indians have credit cards, the Rent Now Pay Later service affords non-carded users a significant flexibility in their financial planning - allowing them to pay their rent at zero cost and freeing up a significant portion of their disposable income for other items," it said. The new service further provides users with the opti

Experts see 2023 as a year of smooth sailing for real estate sector

Demand likely to remain buoyant despite prospects of another rate hike; industry looking for tax breaks, lower transaction costs

Housing.com to hire about 200 people in FY23; to invest in tech, promotion

Realty portal Housing.com will hire about 200 people this fiscal to strengthen its team, besides investing in technology as well as brand promotion to become the clear market leader, its CEO Dhruv Agarwala said. REA India, part of Australia's REA Group and US-based News Corp, owns three real estate portals -- Housing.com, PropTiger and Makaan.com. In an interview with PTI, Agarwala highlighted that the turnover of REA India rose 92 per cent during 2021-22 fiscal (July-June) to nearly Rs 300 crore. Housing.com -- one of the leading real estate classified platforms in India -- contributed around 80 per cent to the total revenue, and housing brokerage platform PropTiger.com the balance 20 per cent. Makaan.com's revenue was negligible. REA India will continue to invest in technology, brand promotion and talent acquisition to grow Housing.com business. It has already announced Rs 40 crore investment in FY'23 for Housing.com and could raise it further looking at competitors. At present,

PE inflows in proptech firms up 5% at $270 mn in Jan-Jun: Housing.com

Private equity (PE) investment in proptech firms rose 5 per cent to USD 270 million during the January-June period as the adoption of technology gains momentum in the real estate sector, according to Housing.com. Between 2009 and June 2022, the proptech companies in India received a total of USD 3.42 billion in PE funding. The PE inflow in proptech rose 35 per cent in 2021 to USD 741 million from USD 551 million in the previous year. Housing.com, which is part of REA India that also owns PropTiger.com and Makaan.com, the number of PE deals during January-June 2022 has grown by 1.5 times year-on-year. The average deal size in H1 2022 stood at USD 14 million compared to USD 32 million during the same period in 2021. The investments tracked include private equity, venture capital, debt, PIPE (Private investment in public entities), project level investments, and pre-IPO private equity deals, at the early, growth and late stage. Dhruv Agarwala, Group CEO of Housing.com, PropTiger.com

Housing.com to invest Rs 40 crore on TV, digital advertising campaign

Realty portal Housing.com will invest Rs 40 crore in one year on a TV and digital advertising campaign, as it seeks to increase user base at its platform and simplify buy-sale and renting journey of consumers. "We have launched our new ad campaign that captures the ethos on which Housing.com has been built -- to facilitate the search and discovery for everyone till they find their perfect home," said Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com and Makaan.com. Housing.com seeks to provide consumers maximum options so that they don't have to settle for anything less than perfect, he added. The company would invest about Rs 40 crore on this campaign over the next 12 months, Agarwala said. The ad campaign will be run on TV, digital and OTT platforms, Housing.com said, adding that the target is to reach over 100 million impressions. Australian proptech firm REA Group, which owns three portals in India including Housing.com, has invested nearly 300 million Australian dollars i

PE inflows into proptech firms rise to $741 million in 2021: Report

The report said the average deal size of PE investments in proptech to an all-time high of $25 million in 2021

Housing.com launches price index for residential properties with ISB

Housing.com and ISB launched an index to track prices of residential properties across eight major cities as part of their effort to provide real-time data to all stakeholders

Delhi-NCR at bottom among top 8 cities on health infra parameters: Report

Pune is ranked first while Delhi-NCR is at the lowest position among eight major cities in health infrastructure-related parameters, according to a report by Housing.com

Housing.com partners startup Propdial to boost rental services business

Realty portal Housing.com on Tuesday said it has tied up with Gurugram-based property and rental management technology firm Propdial

Housing.com to invest Rs 40 cr in next 15 months on advertisement

The realty platform is backed by News Corp

Housing.com logs 60% traffic surge from pre-Covid level; to focus on tech

To cater to the rising trafiic from smaller towns, CEO said Housing.com has been launched in Hindi and the platform will soon be available in other regional languages

India Inc welcomes RBI's rate cut, says will revive demand in auto, realty

Falling rates to help; rise in group exposure limits will support large companies