A city-headquarterd PropUrban, an online-to-offline (O2O) real estate investment advisory and transaction platform, dealing in commercial and residential properties, will be expanding its operations to four more cities such as Pune, Kochi, Ahmedabad, Delhi – NCR from its current operations in Chennai and Hyderabad in next three quarters.
Speaking to DH, Jaffer Ali, the founder and CEO of PropUrban, said “Besides focussing on local market, we are planning to reach out to customers in Singapore, Hong Kong in South East region to New York and Vancouver in far West of India before the end of this year. ”Currently the company has its global presence in Dubai and London. “With our global operations we wish to maintain 60:40 percentage ratio with 40% of revenues coming from local market,” Ali, said.
Asked on the target, he further said, “We are already working with over 100 channel partners. Setting a target of realising 1500 units during this year, our aim is to cross Rs 900 crore mark in next five years.”
A bootstrapped company with a total employee strength of 70 is looking at adding another 60 people before end of this year. The company envisions to be a single-point transaction-enabler for the global real estate industry.
“By leveraging emerging technology and analytics, we produce in-depth insights in asset valuation, due diligence, capital markets, portfolio optimization and the changing real estate dynamics,” he added.
To a question on raising funds for their future requirements he said “We will be looking at raising series A funding of about $5-10 million in next three months.”
Incepted in May 2016, PropUrban, a part of the BlueringRealtech aggregates and showcases real estate properties listed by individuals and institutional sellers to global investors and end-users.
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