REA India Sees 31% Revenue Growth to ₹563 Crore in FY24, Driven by Strong Demand for Residential Properties
REA India, a leading full-stack real estate technology firm, reports 31% revenue growth to ₹563 crore in FY24, driven by strong demand for residential properties and innovative online solutions.
Rea IndiaProptechReal Estate TechnologyHousingcomMakaancomReal EstateAug 12, 2024
The company's CEO, Dhruv Agarwala, stated that the revenue growth was driven by the performance of its online classified advertisement platforms, Housing.com and Makaan.com, as well as its housing brokerage arm, PropTiger. The revenue from these platforms increased by 25% to 68 million Australian dollars (AUD) from AUD 55 million.
In addition to this, the company's revenue from adjacency products and hand services, such as movers and packers, rose by 46% to AUD 35 million from AUD 24 million. Agarwala also mentioned that the company's losses at EBITDA (earnings before interest, taxes, depreciation, and amortization) have reduced by around 9% and this trend is expected to continue in the current fiscal year.
Frequently Asked Questions
What is REA India's revenue growth in FY24?
REA India's revenue growth in FY24 is 31% to ₹563 crore.
What are the key drivers of REA India's revenue growth?
The key drivers of REA India's revenue growth are the strong demand for residential properties and the company's innovative online solutions.
What is REA India's EBITDA loss reduction in FY24?
REA India's EBITDA loss reduction in FY24 is around 9%.
What is the growth in app traffic for REA India in the second half of FY24?
The growth in app traffic for REA India in the second half of FY24 is 45%.
Who acquired a controlling stake in Elara Technologies in December 2020?
Australia's REA Group acquired a controlling stake in Elara Technologies in December 2020.
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