- Nov. 16, 2016
-- Anil Ambani owned Reliance Group's private equity firm invested USD 12 million in Square Yards, the real estate brokerage firm this month. Founded in 2013, the company is a reputed distributor for primary residential real estate in India, with focus on the Non Resident Indian (NRI) markets. The brokerage firm will use the money to form and strengthen its distribution network. The company is said to be an online to offline real estate transaction player which has "raised US$12 million investment from the Private Equity arm of Anil Ambani led Reliance Group."
Square Yards is targeting a double digit market share in the real estate distribution of India, expanding to 25+ countries and becoming largest mortgage advisory and developer marketing firm in India. After raising USD 11 million from high net investors last year, Square Yards has secured first institutional investment from Reliance Group. With fresh investment from one of the bigshots of the industry, Square Yards confirmed through the company statement that they plan to strengthen their distribution network amid Indian and global markets.
"With this collaboration, the Company will be able to draw on Reliance's extensive experience, particularly in scaling up the business to a higher growth trajectory and creating significant shareholder value in the process," Kanika Gupta Shori, Founder & COO, Square Yards, said "Besides capital, we will also get access to best practices in running large consumer businesses at scale, with the participation of Reliance," Shori added.
"Timing of this investment could not have been better for us, with Government's blow on black money and RERA kicking in soon, Real Estate will get consolidated, organised and institutionalized,"
Tanuj Shori, CEO and Founder said.
"Secondary market will be most impacted (prices will drop) but eventually volume surge will help us win even more market share. This is beginning of organised real estate in India," the CEO added. The company said it has been able to generate exceptional growth in all key business metrics, and currently has net revenue run rate of $1.5Mn – $2Mn per month (annualized ~ $25Mn) and transaction run rate of 600-800 unit/month.
Reference link: http://indianexpress.com/article/business/companies/relia...