PropEquity Sues CRE Matrix for Data Theft: Delhi High Court 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. The firm 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, 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 has initiated an investigation. This move underscores PropEquity's commitment to protecting its intellectual property and maintaining the integrity of the real estate analytics market.

For PropEquity, this legal action is a significant step in safeguarding its business interests and reputation. The firm has been known for its comprehensive and accurate data in the real estate sector, which is crucial for investors, developers, and policymakers. The alleged data theft not only jeopardizes PropEquity's competitive edge but also raises concerns about the ethical standards in the industry.

CRE Matrix, on the other hand, has yet to respond to the allegations. The outcome of this legal battle could have far-reaching implications for the real estate analytics market in India, setting a precedent for how companies should handle and protect their data.

The Delhi High Court's decision to issue summons and set a hearing date indicates the seriousness of the matter. Both parties will have the opportunity to present their arguments, and the court will determine whether any wrongdoing has occurred and what actions should be taken to rectify the situation.

As the case progresses, the real estate industry will be closely watching to see how this dispute is resolved. The implications of this lawsuit could extend beyond the two companies involved, potentially leading to stricter regulations and better data protection practices in the sector.