Anarock Group Aims For 40% Revenue Boost To Rs 800 Crore This Fiscal Year

Real estate consultant Anarock Group is targeting over 40% increase in revenue this fiscal year to Rs 800 crore mainly on the back of strong housing demand fuelled by high economic growth, its Chairman Anuj Puri said on Sunday.

Mumbai-headquartered Anarock had posted a 36% increase in revenue to Rs 566 crore in the last fiscal year.

Homegrown Anarock was established by Anuj Puri in April 2017 after serving as country head for 10 years in an international property consultancy firm.

In an interview with PTI, Puri said the company is likely to achieve a revenue of Rs 800 crore in the current fiscal year.

Of the total revenue, Puri said about Rs 575 crore will come from housing brokerage services.

Puri said the remaining revenue will come from land deals, capital market transactions, strategic consulting and project management besides leasing activities in office retail, data centre, and warehousing segments.

Asked about the reasons for growth, he said the overall Indian economy and housing demand revived strongly after the Covid pandemic, benefiting real estate developers and consultants alike.

"To the extent Anarock has been successful, we concentrated on identifying hurdles in the Indian real estate market and focussed on bringing the right solutions," Puri said.

"With an ever growing Indian economy, the real estate market is demonstrating mature growth and we are hugely benefiting from this growth," he added.

Puri noted that housing brokerage business in India is becoming organised and professional, with significant adoption of modern technologies.

Anarock Group also provides consultancy in hospitality segment through 'HVS-Anarock'.

It runs society management brand ANACITY and also a marketplace for co-working seats.

Earlier this year, Anarock raised Rs 200 crore from 360 One Asset Management Ltd to fund its overall business growth and industry-defining proptech platform.

Anarock Group currently has more than 2,200 employees operating across key tier-1 and 2 markets in India and the Middle East.