Anarock FY22 Revenue Up 32% on Recovering Housing Demand: Chairman Puri

Local property consultancy Anarock has achieved a 32% growth in revenue to Rs 402 crore in the last financial year due to a strong recovery in housing demand after the second wave of the Covid pandemic, its chairman has said. Anuj Puri.

Anarock, one of India’s leading housing brokerage firms, was established by Anuj Puri in April 2017. Prior to founding his own company, Puri served as President and Country Manager of a global real estate consultancy firm for 10 year.

In an interview with PTI, Puri said the company has achieved strong revenue growth despite the pandemic.

“Our revenue increased to Rs 402 crore in the last financial year from Rs 305 crore in the 2020-21 financial year,” he said.

Puri noted that the company has benefited from consolidation in the property sector.

Anarock Group, including its Trespect arm and affordable housing division, facilitated the sale of 18,800 units worth Rs 19,260 crore on behalf of property developers in the financial year 2021-22.

“Real estate user trust is returning quickly. At Anarock, we benefit from hard work focused on our clients, our people, feedback to our stakeholders, and achieving a shared vision of excellence,” observed Puri.

Of the total revenue posted in the last financial year, he said housing brokerage services contributed about Rs 300 crore.

The company also generated revenue by facilitating rental and outright sell/buy transactions in the office, retail, warehousing and data center segments. He also facilitated various land transactions.

Additionally, Puri said the company’s capital market division has performed well and helped real estate companies raise funds.

Speaking about the residential market, he pointed out that demand has recovered strongly after the second wave of the pandemic hit India in April-May 2021.

Historically low interest rates on home loans, coupled with stable house prices over the past 5-7 years, have improved the affordability of buying apartments, Puri observed.

Lately, he said, demand for larger apartments has increased as people need the extra space to work from home and study.

Puri said Indian real estate over the past couple of years has witnessed a huge consolidation in demand towards developers who have an impeccable track record of delivering projects.

He said demand for office and retail space has also improved significantly.

The growth of e-commerce is helping to create demand for warehouses and data centers.

Anarock, which has a presence in India and the Middle East, uses its proprietary technology platform to accelerate marketing and sales.

Its services include residential brokerage; distribution (in partnership with Vindico); commercial; hospitality (via HVS Anarock); land services; industrial and logistics (in partnership with Binswanger); investment management; to research; strategic advice and evaluations; project management services (in partnership with Mace); and company management services (via ApnaComplex).

In April, Anarock acquired flexible workspace platform myHQ.

Anarock has a team of approximately 1,800 real estate professionals present in all major Indian cities such as Mumbai, Pune, Ahmedabad, Delhi-NCR, Chennai, Bengaluru, Hyderabad, Kolkata and Lucknow. It also has offices in Middle Eastern markets.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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