Updated February 6th, 2024 at 15:23 IST
Anarock raises Rs 200 crore funding from 360 ONE Asset Management
This investment is geared towards propelling Anarock's growth, improving its tech infrastructure.
Anarock secures investment: Anarock has raised an investment of approximately Rs 200 crore ($25 million) from 360 ONE Asset Management Limited. This investment aims to fuel Anarock's expansion plans, enhance its technological infrastructure, and introduce innovative solutions to solidify its position in the Indian real estate services arena.
Anuj Puri, Chairperson, Anarock, expressed his enthusiasm for the partnership, highlighting the potential it holds for boosting innovation and growth within the company. He underscored the importance of the investment in accelerating business expansion and refining Anarock's proprietary Proptech platforms, which have played a role in changing real estate marketing capabilities.
Real estate sector projections
Puri emphasised the opportune timing for such expansion, citing projections indicating a significant rise in the Indian real estate sector's contribution to the country's GDP. He said, "The Indian real estate sector is expected to account for 10 per cent to 13 per cent of India's GDP by 2025, from its existing share of 7 per cent. We project strong and sustained growth for the industry over the next decade, with its potential market value surpassing $1 trillion by 2030. Anarock will lead the market with upgraded AI/ML technologies to accelerate our developer clients’ residential inventory sales."
The investment from 360 ONE Asset Management is viewed as a move, enabling Anarock to leverage its expertise and technological prowess to further enhance the real estate consulting and technology space. Sameer Nath, Chief Investment Officer, 360 ONE Asset, expressed confidence in Anarock's management team and their capabilities, emphasising their position as leaders in India's real estate services sector.
Rohin Shah, Director & Co-Founder, Anarock, echoed similar sentiments, highlighting the synergy between the two entities in their focus on innovation within the real estate market. Shah emphasised Anarock's three decades of experience in the Indian real estate sector and reiterated the company's dedication to providing innovative and market-leading solutions to its clients.
Founded in 2017 by Anuj Puri and Rohin Shah, Anarock has positioned itself as one of the key players in the Indian and Middle Eastern real estate consultancy landscape, offering technology-driven solutions.
Published February 6th, 2024 at 15:23 IST