Australian proptech firm REA Group, which owns three portals in India including Housing.com, has invested nearly 300 million Australian dollar in the country in the last five years, and will infuse more funds to establish itself as a ''clear'' market leader, a top company official said here.
REA Group Global CEO Owen Wilson said the company would expand its India business into more tier II cities, besides entering into home loan brokerage business and listing of commercial properties on Housing.com platform.
Bullish on future growth potential in India's digital real estate space, Wilson said: ''We are investing more money in India in terms of percentage growth than any of our other markets.'' The REA group has made an investment of close to 300 million Australian dollar since 2017 as equity investment as well as capital expenditure in technology and brand building, he added.
Melbourne-based REA Group Ltd is likely to achieve a revenue of over 1 billion Australian dollar in the financial year 2021-22 ending June as against 928 million Australian dollar in the preceding fiscal.
The REA group is exploring the areas where it can bring expertise to the Indian market.
''REA in Australia is the number one portal and probably one of the most successful property portals in the world. If you look at our revenue, our profitability, our audience position, we have 63 per cent of Australians visit our site every month. It's incredible. And so we believe there's a lot of value we can add to the business here in India,'' Wilson said.
REA Group is the global leader in proptech space with leadership position in almost all the major markets it is present in, including Australia, Asia and North America.
The Group also holds a significant minority shareholding in Move, Inc, operator of realtor.com in the US, and the PropertyGuru Group -- operator of leading property sites in Malaysia, Singapore, Thailand, Vietnam and Indonesia.
