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Proptech startup Reloy, backed by HDFC Capital, reported a revenue jump to INR28.5 crore in FY 2023-24, up from INR17.8 crore the previous year. The growth was driven by strong housing demand and a 50% boost in its referral sales business. Founded in 2015, Reloy offers a B2B2C platform helping builders manage customer and broker relationships, while also providing services like home interiors, financing, and post-purchase support. The company works with top developers across India and has raised INR13 crore so far. With tech adoption rising, India's proptech sector is booming-valued at $10.5 billion and projected to hit $600 billion by 2047.
Reloy, a proptech startup backed by HDFC Capital, has reported a strong increase in its revenue during the recently concluded fiscal year. This growth, in India's real estate market, is driven by high demand for housing properties and the company's core business model, which helps builders generate referral sales and streamline customer management. Advertisement
The company posted a gross revenue of INR 28.5 crore in the previous fiscal year. In the 2023-24 financial year, its revenue was INR 17.8 crore. Reloy's Founder and CEO Akhil Saraf reportedly stated that the company saw 50% growth in its main referral sales business and has successfully managed to apply this method across all its clients. He also noted that the company works with almost all leading real estate developers across major states.
Founded in 2015, Reloy focuses on real estate loyalty and referrals, offering a B2B2C (business-to-business-to-consumer) platform that assists builders in managing their customers and brokers more efficiently. So far, the startup has raised INR 13 crore from various investors, including HDFC Capital, which holds about a 10% stake. The technology solutions provided by Reloy aim to simplify the post-purchase journey for homeowners.
The company offers benefits to homeowners for related needs like home interiors and home finance. It also helps with post-purchase activities such as document management, tracking construction progress, and making payments. Additionally, it creates a marketplace for other connected services in home interiors and home finance.
As per recent reports a leading real estate listing platform, proptech firms in India collectively attracted USD 4.6 billion between the fiscal years 2010-11 and 2023-24, growing at a compound annual growth rate (CAGR) of 40%. A recent report by realtors' apex body CREDAI and EY suggests that the Proptech market size is expected to grow multifold from its current USD 10.5 billion to approximately USD 600 billion by 2047, driven by the increasing adoption of technology in the real estate sector.
Source: PTI
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