Anarock achieves 32% revenue growth during last fiscal year

Anarock, one of the leading housing brokerage firms in India, has achieved a 32% growth in its revenue at Rs 402 crore during the last fiscal year owing to a sharp recovery in housing demand post the second wave of the Covid-19 pandemic.

Home-grown real estate consultant Anarock was established by Anuj Puri in April 2017. Before setting up his company, Puri had worked as chairman and country head at a global property consultancy company for 10 years.

Puri told the media that the company has gained a strong increase in revenue despite the Covid-19 pandemic.

The company's revenue has increased to Rs 402 crore during the last fiscal year from Rs 305 crore in the financial year (FY) 2020-21, he said.

Puri said that the firm benefited from the consolidation in the real estate industry.

Anarock group, including its arm Trespect and affordable housing division, stimulated the sale of 18,800 units worth Rs 19,260 crore on behalf of real estate developers during the FY 2021-22.

Out of the total revenue posted in the last FY, he said the housing brokerage services contributed about Rs 300 crore.

The firm also earned revenue by promoting leasing and outright sale/purchase transactions in the retail, office, warehousing, and data centre segments. It also promoted various land deals.

Moreover, Puri said the company's capital market division functioned well and enabled real estate firms in raising funds.

Talking about the residential market, he said that the demand recovered sharply after the second wave of the Covid-19 pandemic.

Historical low-interest rates on home loans associated with stable housing costs during the last five to seven years enhanced the affordability of buying apartments, Puri observed.

He said, there has been an upsurge in demand for bigger apartments as people require extra space for work from home and study purposes.

Puri said the Indian real estate sector over the last two years has been seeing a huge consolidation of demand towards those developers who have an impeccable track record of implementation of projects.

He said the demand for office and retail spaces has also enhanced enormously.

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