Anarock reports 36% rise in revenue growth at Rs 566 crore in FY24, surpassing target
May 13, 2024
New Delhi [India], May 13 : Anarock, a leading real estate consultancy, has reported Rs 556 crore revenue generated in the recently-concluded financial year 2023-24, marking a 36 per cent yearly jump over the previous fiscal.
In 2022-23, the company clocked total revenue of Rs 416 crore. With this, Anarock has overachieved its set revenue target of Rs 550 crore for 2023-24.
"A 41 per cent growth in 2024-25 is more than achievable - not only because the residential market remains in hyperdrive," said Anuj Puri, Chairman - ANAROCK Group.
"We have recently added the corporate leasing and advisory vertical to our services portfolio, which fundamentally taps into our collective expertise DNA. Also, our Digital Services division, which contributed significantly to this year's revenue with deployment of our proprietary technologies, has sizable ongoing mandates in hand."
To meet the work in hand, Anarock vowed it will significantly increase its headcount in 2024-25, especially in the recently launched corporate leasing and advisory services.
Anarock Group currently has over 2,200 employees operating across key tier 1 and 2 markets in India, and the Middle East.
"2023-24 has been a phenomenal year for the Indian residential segment, with record sales and new launches across the top seven cities," said Santhosh Kumar, Vice Chairman - ANAROCK Group.
"We are obviously happy to have exceeded our revenue target for the year by 6 per cent but see that merely as an apt launch-pad for bigger and better things. In fact, we are confident of close to tripling our current revenue to Rs 1,500 crore by 2026-27."
"We will penetrate more key markets this year, with a vastly amplified services bouquet," he added.
"The Indian economy continues to exhibit strength and will certainly support our targeted growth. However, we bank even more strongly on our constantly improving technology suite - and, of course, the best real estate teams in the business."
The company recently raised Rs 200 crore funding from 360 One Asset Management Limited for deployment into its overall business growth.
