Real estate consultancy, ANAROCK has announced an investment of Rs 200 crore ($25 Million) from 360 ONE Asset Management Limited (earlier known as IIFL Asset Management).
The consultancy will utilise the investment to enhance its tech infrastructure and accelerate its expansion. The company is also planning to introduce innovations to bolster its leadership position in the Indian real estate services space.
Commenting on this partnership, Anuj Puri the Chairman of ANAROCK, said, “The capital has been earmarked for faster business expansion and fine-tuning our proprietary Proptech platforms, which have proved to be game changers for our real estate marketing capabilities.”
"This is by far the most opportune time to expand our reach and services,” said Puri. “The Indian real estate sector is expected to account for 10-13 per cent of India's GDP by 2025, from its existing share of 7 per cent. We project strong and sustained growth for the industry over the next decade, with its potential market value surpassing $1 trillion by 2030. ANAROCK will lead the market with upgraded AI/ML technologies to accelerate our developer clients’ residential inventory sales.”
Sameer Nath, chief investment officer and head of venture capital and private equity at 360 ONE Asset, said, “We are delighted to be the first equity investor for ANAROCK. In ANAROCK, we observe a top-class management team, premier marketing and advisory capabilities, and a clear leader in India’s large and growing real estate services sector. We have also been impressed by the tech infrastructure and innovative platforms being built by the company. We look forward to partnering with Anuj, Rohin, and the entire ANAROCK team in the next phase of their exciting growth journey.”
Founded in 2017 by Anuj Puri, former chairman and country head of one of India’s major international real estate consultants, and Rohin Shah - managing director of UK-based Marylebone Asset Management.