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Proptech start-up Reloy, backed by HDFC Capital, expects revenue to rise nearly 75% this fiscal to INR 50 crore, driven by strong demand and referral-led housing sales. Founded in 2015, Reloy enables builders to generate sales through customer and broker loyalty apps, earning commissions on successful transactions. The firm aims to facilitate INR 3,500 crore in sales this year, up from INR 2,000 crore in FY24, with first-half performance already surpassing last year's total. CEO Akhil Saraf noted that rising housing prices and luxury supply have boosted momentum, while Reloy's focus on post-purchase services and loyalty rewards has deepened developer trust.
Reloy, a proptech start-up supported by HDFC Capital, announced that it expects nearly 75 per cent growth in revenue this fiscal, taking its earnings close to INR 50 crore, supported by increasing demand for housing properties. The company had registered a 60 per cent rise in gross revenue in the previous financial year, climbing from INR 17.8 crore to INR 28.5 crore. Advertisement
Founder and CEO Akhil Saraf mentioned that the firm anticipated revenue in the range of INR 45-50 crore in the current fiscal. He explained that the business model, which helps builders generate referral sales through customer and broker management on dedicated mobile applications, was yielding strong results. The company earns its commission by facilitating these referral transactions.
Saraf highlighted that performance in the first six months of the fiscal had been particularly encouraging. Reloy is targeting to facilitate sales worth INR 3,500 crore during the year, up from INR 2,000 crore in the previous fiscal. He further pointed out that referral-led sales achieved in the first half of the fiscal had already crossed last year's total.
The CEO remarked that the company had successfully developed a replicable strategy for driving referral sales and was applying it across its client base, which includes nearly all major developers in leading states. He also noted that large branded developers were gaining significant market share in the post-pandemic period, which had contributed positively to Reloy's growth.
According to Saraf, rising housing prices and increased supply in the luxury segment have further strengthened the company's revenue prospects. He observed that developers were increasingly recognising the value of satisfied customers and that Reloy's loyalty-driven platform was enabling them to nurture long-term trust. This trust, in turn, was translating into consistent referral sales, benefitting developers, existing homeowners, and new buyers alike.
Reloy, founded in 2015, positions itself as a B2B2C platform for homeowner and broker management, specialising in loyalty and referral systems. The company has raised INR 13 crore so far from various investors, with HDFC Capital holding around a 10 per cent stake. Its technological solutions also extend to post-purchase homeowner needs such as document management, construction tracking, payments, and a marketplace for home interiors and finance, while rewarding homeowners with associated benefits.
Reloy's rapid expansion in referral-driven sales indicates a shift in the real estate market, where developers are increasingly relying on customer satisfaction and loyalty-based models. With strong backing from HDFC Capital and widespread collaboration with leading developers, the start-up has positioned itself as a key player in bridging the gap between builders, brokers, and homeowners. Its focus on strengthening the post-purchase journey of buyers and integrating loyalty rewards has enabled it to create a more holistic ecosystem, paving the way for sustained growth in the housing sector.
Source - PTI
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