Indiaproperty, a real estate portal, plans to break-even by Oct-Dec 2017 quarter, said Ganesh Vasudevan, CEO of the company.
According to him, the company has been growing organically thanks to the planned strategy which not only focuses on listings but also on allied services such as assisted buying, transaction services and home loan services.
The company is focusing on its ‘assisted buying’ services which they believe will play a major role in growth of the company in coming years. Currently it forms 3-4% of revenue share which they hope to reach 9-10% in next two years.
It is also looking to strengthen its platform by aggressively investing in Artificial Intelligence and BOTs. “Meanwhile, we are looking to acquire companies offering CRM solutions and analytics solutions,” said Vasudevan.
Currently, the portal claims to have a revenue share of 45% in South India and plans to gradually increase its existing presence in North and West India.
The implementation of RERA has had an impact on overall real estate sector and real estate portals have not been left untouched as well. Vasudevan says, they witnessed a drop of 15-20% in revenue in the Apr-June quarter, but hope to regain previous normal by Jul-Sep 2017.
Interestingly, during the first quarter of 2017-18, the portal witnessed an increase in the listings from the individual sellers while the listings from builders and agents declined.
