PropEquity FY24 Net Profit Surges 10% to Rs 12 Crore

PropEquity, a real estate data platform, reported a 10% increase in net profit to Rs 11.67 crore in the last fiscal year. Its income grew 37% to Rs 44.17 crore. PropEquity plans to expand its valuation business, enter the Middle East market, and launch new B2C and asset management verticals to drive growth. The company provides analytics and data on the Indian real estate industry, tracking over 1,73,000 projects and 57,500 developers across 44 cities.

P E Analytics Ltd, which runs real estate data platform PropEquity, has reported 10 per cent increase in consolidated net profit at Rs 11.67 crore for the last fiscal year on better income.

Its net profit stood at Rs 10.6 crore in the preceding year.

According to a regulatory filing on Friday, total income grew 37 per cent to Rs 44.17 crore last fiscal from Rs 32.3 crore in 2022-23.

Samir Jasuja, Founder and CEO of PropEquity, said, ''We have done reasonably well in FY 2024, with 10.4 per cent growth in our profits before tax (PBT) compared to the preceding financial year. Our overall revenues also continue to rise by 37 per cent to Rs 44.1 crore.'' He said the valuation business vertical has performed well as revenue grew by 106 per cent since the last financial year.

''We are adding new verticals in the valuation business which are auto valuations and plant and machinery valuations in FY 24-25 which will help us grow our business manifold,'' he said.

Jasuja said the company is setting up a new firm in the Middle East in partnership with local partners to launch its services.

Along with this, he said the company would be launching two more verticals -- B2C project monitoring and developer asset management -- to boost revenue.

PropEquity is an online provider of analytics, data and deal flows covering the Indian real estate industry.

The company tracks over 1,73,000 projects of 57,500 developers across 44 cities in India on a real time basis.

Its search platform generates analysis for all verticals under residential, commercial and retail sectors, the company said in a statement.

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