Anarock's FY25 Revenue Surges 33% to Rs 755 Crore on Strong Property Consultancy Demand

New Delhi, May 18 (PTI) Real estate consultant Anarock Group reported a 33% revenue growth to Rs 755 crore in the fiscal year 2024-25, driven by robust demand for residential and commercial properties, according to the company's Chairman, Anuj Puri.

Mumbai-based Anarock had posted a revenue of Rs 566 crore in the 2023-24 financial year. Home-grown Anarock was established by Anuj Puri in April 2017 after serving as the country head for 10 years in a global property consultancy firm.

In an interview with PTI, Puri attributed the increase in the company's revenue to the overall economic growth in India, which is fuelling demand for residential and commercial properties from both end users and investors. He said the revenue from the consultancy services in the housing segment stood at around Rs 420 crore, which is about 56% of the group's total turnover.

"Land deals and capital market transactions contributed significantly to the total revenue as developers were aggressive in land purchases and also fund raising to expand their businesses," Puri said.

Puri added that the remaining revenue came from the sale and leasing of office, retail, and warehousing spaces; strategic consulting; project management; co-working platform consultancy in the hospitality segment; and society management mobile application services.

When asked about the performance of office leasing consultancy services that Anarock entered in April 2024, Puri said it has done exceptionally well. The company has not only built a strong team across 7-8 major cities but also concluded many workspace leasing transactions.

Regarding the housing demand scenario, Puri noted that the market was a bit slow between January 1 and March 15 of this calendar year, but sales have picked up since then. "We are consistently making efforts to identify hurdles in the Indian real estate market and then bringing the right solutions to address those pain points," he said.

Puri also mentioned that the Indian real estate market is becoming more organized and mature, benefiting both property developers and consultants. Last year, Anarock raised Rs 200 crore from 360 One Asset Management Ltd to fund its overall business growth, both organically and inorganically.

"We have not used this fund so far. We are looking for acquisitions that can complement our businesses," he said.

Anarock Group currently has more than 2,300 employees operating across key tier-1 and tier-2 markets in India and the Middle East. Puri said the employee strength will increase in line with the expected growth in its business.

He sounded extremely bullish about the company's growth during the current fiscal year, despite global economic uncertainties.