Blox has announced its first acquisition of Plinthstone REMA. The new acquisition of the real estate sales and marketing company will be added to Blox as an extension of the brand’s portfolio and will be known as Blox Exclusive.
This noteworthy achievement by Blox is a new milestone for the brand as it records another success to its legacy. In less than 9 months since commencing sales operations, Blox adds another feather to its cap after having over 300 developers listed on its platform, and actively services around 700 projects in Mumbai and Thane. Blox’s success can also be measured in numbers with a Gross Transaction Value of around Rs 250 cr in the short time since commencing sales operations with its current developer clientele including renowned real estate names like Godrej Properties, Lodha Group, Ruparel Realty, Dynamix Group, Hubtown, and VKG to name a few.
Founded by Aditya Jhaveri, Blox was formed with a single vision to make home-buying a single-window journey at every Indian’s fingertips. Backed by Tinder founder Justin Mateen and other elite silicon valley investors, Blox allows home buyers to browse perfectly verified inventory, directly listed by developers on the platform.
Plinthstone, now a part of Blox was founded in January 2021 as a multi-speciality realty advisory company that prides itself in creating unique solution services for the realty industry. Within a short span of time, it has successfully executed 4 mandates with over 200 cr sales volume and has made a mark for itself as a professional, reliable and trustworthy partner for Developers, channel partners and customers. It has a strong network of channel partners across the entire city.
Plinthstone’s team that is servicing these projects will now be integrated into Blox. They have a current order book of ~1000 cr with exclusive sales mandate over 3 projects located across the city and a future pipeline of ~1500 cr of sales mandates that will go to market over the next year under Blox Exclusive. This is in addition to the ~3000 cr order book of sales mandates that Blox currently holds in its Exclusive portfolio.
Speaking on the acquisition, Aditya Jhaveri, Founder & CEO, Blox, “Plinthstone is our first acquisition and brings us one step closer towards achieving our goal of being the biggest and best home buying ecosystem in India. We are using technology to bring eCommerce-type functionality to the home buying process and build trust and transparency with homebuyers. We want to serve millions of Indians in buying their homes over the next decade”.
Harish Sharma, Founder & CEO - Plinthstone says, “We are elated to be joining Blox and working under the visionary leadership of Aditya. With a tech-focused mindset, Blox has managed to create a mark in the real estate industry in a very short time and I am very optimistic about our future. All of us are excited and committed to help achieve Aditya’s vision of bringing delight and transparency to the homebuyer and use Blox’s digital processes which will change and improve the real estate industry forever”.
The new and consolidated Blox Exclusive vertical thus aims to keep its intellectual capital and client relationships as it will retain all previous employees culminating in its current employee strength of around 200 employees.
