NoBroker is present in 6 cities – Bengaluru, Mumbai, Pune, Hyderabad, Chennai, and Delhi-NCR. | Image: Company website
Unicorn real estate platform NoBroker.com's revenue crossed Rs 1,000 crore last fiscal year, and it aims to become profitable in the next 8-10 months, a top company official said.
The proptech startup based in Bengaluru, established in 2013, operates mainly in listing properties for renting, buying, and selling, and does not charge customers any brokerage fees.
In the sector, it offers additional services, such as movers and packers, and manages housing societies through the NoBrokerHood app.
In an interview with PTI, NoBroker.com co-founder and CEO Amit Kumar Agarwal highlighted that the company's revenue grew to Rs 965 crore in 2024-25 from Rs 888 crore in the preceding year, helping it to reduce losses by 25-30 per cent to around Rs 300 crore.
In the last fiscal year, Agarwal said, "Our revenue has crossed Rs 1,000 crore although the final numbers are still being audited. We continue making strong progress towards profitability".
He noted that losses are declining every fiscal year with the help of rising revenue numbers and cost optimisation.
"We are looking at being profitable within the next 8-10 months," he asserted.
Agarwal said the company's entire focus is currently on becoming profitable, and it is not looking at raising funds from its investors or launching an initial public offering (IPO) at this stage.
After achieving profitability, he said the company could consider the IPO.
"Beyond our core real estate business, high-potential verticals such as Packers & Movers, NoBrokerHood, home services, and home interiors are becoming significant growth engines for us. Our focus is to build these businesses at scale and evolve NoBroker into a much broader platform for our consumers' real estate journey," Agarwal said.
NoBroker is present in 6 cities – Bengaluru, Mumbai, Pune, Hyderabad, Chennai, and Delhi-NCR.
Its society management platform NoBrokerHood is present in 11 cities. It is serving more than 25,000 societies and 48,00,000 families.
In November 2021, NoBroker became a unicorn after it raised USD 210 million from investors, including General Atlantic and Tiger Global, to expand its business.
The funds were raised at a USD 1 billion valuation, making it the first unicorn in the proptech sector.
Source: Read the original article on www.business-standard.com
Written by https://futureknowledge.in/
