Anarock sells housing properties worth Rs 8,084 cr on behalf of builders in Apr-Sep; 82% annual rise

The luxury units of Rs 2.5 crore plus contributed almost 20 per cent of the sales value so far.Interestingly, with more and more millennials buying homes, they have constituted a sizable 40 per cent of the customer base in H1 2021 for Anarock group sales.


PTI | New Delhi | Updated: 28-10-2021 17:19 IST | Created: 28-10-2021 17:19 IST
Anarock sells housing properties worth Rs 8,084 cr on behalf of builders in Apr-Sep; 82% annual rise
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Homegrown housing brokerage firm Anarock on Thursday said it has sold residential properties worth Rs 8,084 crore on behalf of developers during the April-September period of this fiscal year, up 82 per cent year-on-year, on revival of demand especially in Mumbai Metropolitan Region (MMR).

The Mumbai-based firm had sold properties worth Rs 4,446 crore in the April-September period of the last fiscal, according to a statement.

''The increased sales velocity and market uptake are very visible in the growth of inventory value transacted,'' said Santhosh Kumar, Vice Chairman Anarock.

The company sold around 9,000 units during the first half of this fiscal.

The average ticket size of units sold was at Rs 90 lakh across the 13 cities of operation.

The MMR alone contributed almost Rs 5,000 crore of sales value within H1 of this financial year, followed by Delhi-NCR amounting to Rs 832 crore sales value and Bengaluru at Rs 657 crore.

Anarock said it also saw continued interest in the super luxury market of Rs 10 crore plus inventory, which in total contributed to almost 10 per cent of the sales value so far. The luxury units of Rs 2.5 crore plus contributed almost 20 per cent of the sales value so far.

''Interestingly, with more and more millennials buying homes, they have constituted a sizable 40 per cent of the customer base in H1 2021 for Anarock group sales. Also, working professionals constituted 70 per cent of the home buyers, while business owners accounted for 25 per cent of buyers, with the other 5 per cent being retirees or other non-working individuals,'' the company said.

Anarock had clocked an 18 per cent growth in its revenue at around Rs 305 crore during the 2020-21 financial year despite the pandemic.

In September, Anarock Chairman Anuj Puri had told PTI that the company was targeting to increase its turnover to around Rs 400-450 crore this fiscal year.

''Housing demand bounced back strongly both after the first and second wave of the COVID. The recovery happened much faster than our expectations,'' he had said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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