PropEquity Files Lawsuit Against CRE Matrix for Data Theft, Delhi HC Issues Summons
Delhi-based real estate analytics firm PropEquity has filed a case against Mumbai-based CRE Matrix in the Delhi High Court, alleging data theft and infringement of its primary real estate data. PropEquity has sought a permanent injunction and damages of Rs 8 crore on account of the alleged data theft.
A single-judge bench of Justice Manmeet PS Arora of the Delhi High Court issued summons to Bhugol Analytics Private Limited (trading as CRE Matrix), its directors, and some employees, in an order dated July 24, which was released on Wednesday. The court granted time to the defendants to file their written statements and posted the matter for hearing on September 19.
PropEquity, operated by PE Analytics Limited, alleged glaring similarities and almost identical figures in the primary residential data segment reported by CRE Matrix in its “India Housing Report” published in May 2025. The firm also said CRE Matrix was not operating in the domain of primary residential data during 2021–24, the period for which the figures were released in its May 2025 report.
It added that CRE Matrix acted by unethically soliciting the plaintiff’s former employees, who had held important positions but resigned, violating non-compete clauses and joining the rival company. “They colluded with the defendant and compromised the proprietary primary residential data of the plaintiff,” PropEquity said in its plea before the Delhi High Court.
The firm added that it has also filed police complaints with the cyber crime branch in Gurugram, and the police have initiated an investigation. This move underscores the seriousness of the alleged data theft and the potential impact on the real estate analytics industry.
PropEquity is a leading real estate analytics firm known for providing accurate and comprehensive data to clients in the real estate sector. The company has built a reputation for maintaining high standards of data integrity and ethical practices. The alleged data theft by CRE Matrix could not only tarnish PropEquity’s reputation but also have far-reaching consequences for the industry as a whole.
The legal battle between PropEquity and CRE Matrix highlights the importance of protecting intellectual property and maintaining ethical standards in the competitive world of real estate analytics. As the case progresses, it will be closely watched by industry stakeholders and legal experts alike.
