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.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora