PropEquity -- one of the leading real-estate data and analytics companies in India – today announced its financial results for the financial year of 2023-24 ending 31 st March 2024.
KEY HIGHLIGHTS (FY 2024) – 12M ENDING 31ST MARCH 2024
PropEquity recorded revenues of ₹44.17 Cr for the financial year ending March 31, 2024, an increase of 37% over FY of ₹ 32.3 Cr. Profit after tax was ₹ 11.6 Cr, as compared to PY profit after tax of ₹ 10.6 Cr.
PropEquity EBIDTA Margins: Approximately Rs. 5 Million from our pre-tax profits have been invested and expensed out in incubating our social media platform and consulting fees for developer asset management business. P.E. Analytics EBIDTA margin continues to be 50%, if we add back the above to our pre-tax profits. If we don’t add back EBIDTA margin is will be at 47%.
PropEdge (our subsidiary) EBIDTA: Although, PropEdge EBIDTA margin has come down from 25% to 19% but the absolute profits have grown by 59%. PropEdge EBIDTA margins have come down because we are in an exponential expansion phase as we add new verticals and expand our business to many more cities and towns.
MANAGEMENT’S TAKE ON FY 2024 PERFORMANCE
Commenting on the FY 2024 performance, Samir Jasuja, Founder and CEO of PropEquity, highlighted his contentment with the company’s performance last year & We have done reasonably well in the FY 2024, with 10.4% growth in our profits before tax compared to last financial year. Our overall revenues also continue to rise by 37% to current at 44.1 crores, with our valuation business vertical on an exponential growth phase and revenues grew by 106% since the last financial year. We are adding new verticals in the valuation business which are Auto Valuations and Plant and Machinery Valuations in FY 24-25 which will help us grow our business manifolds.”
He added, “We are delighted to announce that we are also setting up a new company in partnership with seasoned and local partners in the Middle-east and will be launching our services in the coming financial year. Along with this, we are also launching two more verticals of B2C Project monitoring and an asset-light pure services business of Developer Asset Management, anticipating a highly positive impact on overall revenues of the company.”
Samir Jasuja also expressed his excitement towards the increase of social media presence of PropEquity with the launch of India’s first-ever National real estate YouTube channel (@Samir Jasuja-PropEquity) in February 2024 that offers Information, Knowledge, and Wisdom of the Real Estate Market by data analytics and business intelligence tools!
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