Anarock’s FY’21 revenue up 18% to Rs 302 cr; facilitates sale of flats worth Rs 16k cr

New Delhi, Apr 11: Property consultant Anarock has clocked an 18 per cent growth in its revenue at Rs 302 crore during the last fiscal despite the COVID-19 pandemic, its chairman Anuj Puri said on Sunday.
In an interview with PTI, Puri said the company sold 14,700 units worth Rs 16,240 crore on behalf of the developers in the full 2020-21 financial year.
The numbers are higher than the 2019-20 fiscal year, when Anarock sold 12,710 units worth over Rs 11,000 crore.
Puri pointed out that housing sales in the first four months of the 2019-20 were badly impacted due to the nationwide lockdown, which was imposed to control the spread of coronavirus disease.
However, he said demand for residential properties improved significantly thereafter.
“We have achieved a revenue of Rs 302 crore during the last fiscal,” Puri said. Anarock, a major player in housing brokerage business, had posted Rs 256 crore turnover in the previous fiscal.
The bulk of the revenue came from brokerage income from sale of residential properties, he said.
Capital market advisory, leasing of retail space, sale of office properties, consulting business, digital solutions also contributed in the overall revenue.
“First four months of FY 2020-21 were difficult for residential whilst momentum picked up in the next four months from August to November and last four months from December 2020 to March 2021 was a home run,” said Puri, while summing up the performances of his company as well as the overall primary residential market.
He attributed the rise in the company’s turnover to digital, technology and a committed team.
Anarock, which has an employee base of around 1,800 across its offices in India and the Middle East, was profitable during the last fiscal.
Puri noted that Mumbai Metropolitan Region (MMR) and Pune property markets were major contributors to its revenue, driven by the stamp duty reduction by the Maharashtra government.
In terms of residential category, he highlighted that luxury segment, particularly in the price range of Rs 25-60 crore, performed exceptionally well as businessmen and ultra high net worth individuals bought bigger apartments with latest amenities to upgrade their lifestyle.
The affordable housing projects also did well, he said, adding that ready-to-move-in properties were preferred more than the under-construction ones.
Puri highlighted that plotted development saw a lot of traction in Bengaluru and Chennai markets.
Anarock was formed by Puri in April 2017 after serving as a country head in a global real estate consultancy firm for a decade. It has offices in major cities of India and also two offices in the UAE to tap non-resident Indians looking to buy real estate in India. (PTI)