- Nov. 29, 2016
-- Owned by Anil Ambani, Reliance Group's private equity firm invested USD 12 million in real estate firm Square Yards. Established in 2013, the real estate firm is a reputed distributor for primary residential real estate in India, focusing majorly on Non Resident Indian (NRI) markets. The real estate firm will be spending this investment to form and strengthen its distribution network.
Square Yards is an online to offline real estate transaction player and has managed to raise US$12 million investment from the Private Equity arm of Anil Ambani led Reliance Group. They are also targeting double digit market share in the real estate distribution of India, expanding to 25+ countries with a view of becoming largest mortgage advisory and developer marketing firm in India. With fresh investment from one of the leading companies in India, Square Yards confirmed through the company statement that they intend 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, Square Yards 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...