PropEquity revenue up 29% at Rs 12 crore in Q1 FY25
New Delhi, August 20, 2024: PropEquity, a real estate data analytics firm, posted 29% growth in consolidated revenues at Rs 12.06 crore in April-June FY25 against Rs 9.3 crore in the same period last year.
The NSE-listed firm said its valuation and CRM business contributed to this growth, followed by subscription and consulting.
The valuation and CRM business saw a growth of 54% at Rs 5 crore in the first quarter as against Rs 3.2 crore in the same period last year. The subscription business grew by 10% to Rs 5.5 crore as against Rs 5 crore in the same period last year, contributing 46% to the overall revenue of the company.
Commenting on the quarterly earnings, Mr. Samir Jasuja, Founder & CEO at PropEquity said, “The revenue figures for this quarter are quite encouraging. We will launch PropAlert, India’s first and only service providing real-time updates and actionable intelligence, on September 1. Later this year, we will also launch our oversees services in the Middle East. We are confident that these services will not just propel our revenues but also pave the path for innovation in enhancing data backed decision making.”
The company’s EBIDTA margin continues to be above 50% on a standalone basis and 41% on a consolidated basis.
Mr. Jasuja further added that the company has seen a consistent growth in valuation and subscription businesses.
“The company has added 21 new clients in the subscription business in the last quarter, and our client retention rate continues to be over 81%,” he said.
The company’s cash reserves and liquid current assets have exceeded over Rs. 800 million as of 30th June 2024.
The company said its consolidated profit before tax (PBT) rose by 28% to Rs 4.9 crore in Q1 FY 25 as against Rs 3.9 crore in the same period last year.
PropEquity captures real estate data for RERA approved projects in 44 Indian Cities including 14 Tier I cities and 30 Tier II Cities.
30 Tier II cities include – Amritsar, Mohali, Ludhiana, Chandigarh, Panipat, Dehradun, Bhiwadi, Sonepat, Jaipur, Agra, Lucknow, Bhopal, Indore, Visakhapatnam, Vijayawada, Guntur, Goa, Mangalore, Mysore, Coimbatore, Kochi, Trivandrum, Raipur, Bhubaneshwar, Ahmedabad, Gandhi Nagar, Vadodara, Surat, Nashik and Nagpur.