REA India reports 31% revenue growth to Rs 5.63 billion in FY24

13 Aug 2024 CW Team

REA India, the company behind Housing(dot)com and PropTiger, has announced a 31% increase in revenue for the fiscal year ending June 2024, reaching Rs 5.63 billion. This growth is attributed to robust demand for residential properties, according to Dhruv Agarwala, CEO. The company's revenue for FY23 was approximately Rs 4.3 billion.

Agarwala noted, "FY24 has been a year of substantial growth and innovation for our company. Our online events achieved record-breaking collections, underscoring our strong market presence and the effectiveness of our strategies."

The company's new products and innovations have been well-received, driving increased sales. Agarwala highlighted the growing importance of Tier-2 cities in India's real estate market, where emerging urban centres are gaining prominence.

"Our app-first strategy has significantly enhanced consumer engagement, personalized services, and overall user experience," Agarwala added. "This digital focus contributed to a 45% increase in app traffic during the latter half of the fiscal year."

REA India, a subsidiary of Australia's publicly listed REA Group, acquired Elara Technologies in December 2020, which included Housing(dot)com, PropTiger, and Makaan(dot)com. Housing(dot)com, founded in 2012, is a comprehensive proptech platform offering listings for various types of properties across India. PropTiger, established in 2011, operates as a housing brokerage firm, while Makaan(dot)com serves as an advertising platform.

(ET)

Infrastructure Urban

30 Jul 2026

Centre Clears Power Distribution Upgrade for Uttar Pradesh

The Central Government has approved power distribution projects worth Rs 407.39 billion for Uttar Pradesh under the Revamped Distribution Sector Scheme (RDSS). The investment will be used to modernise the state's electricity distribution infrastructure and strengthen network capacity across urban and rural areas. The package targets one of the country's largest distribution networks as the state experiences rapid urbanisation and rising electricity consumption. Planned interventions include the strengthening of distribution lines, modernisation of substations, replacement of ageing electrical ..

India Data Centres To Consume 191 TWh By 2040 Driving Renewables

A Wood Mackenzie report says India's operational data centre capacity is projected to increase more than fivefold to 12 gigawatt (GW) by 2030 from 2.2 GW in 2025 as artificial intelligence (AI) and cloud computing drive demand. It projects electricity consumption to rise from 10 terawatt-hour (TWh) in 2025 to 191 TWh by 2040. The study forecasts a compound annual growth rate of around 40 per cent and notes AI-dedicated capacity will surge nearly 24-fold from 275 megawatt (MW) in 2025 to 6,546 MW by 2030. The report places India's digital economy at Rs 32 trillion (tn) in 2025 and says it contr..

Hydrogen Train Completes 1,200 Kilometres Of Trials

India's first hydrogen train was flagged off between Jind and Sonipat on July 17 and has travelled over 1,200 kilometres in trials, saving diesel consumption of more than 3,200 litres, a Railway Ministry press release said. The deployment marks the introduction of a zero-emission fuel cell train into route testing and represents a milestone in domestic rail innovation. The train generates electricity onboard through a chemical reaction between hydrogen and oxygen, producing electricity to propel the vehicle while emitting only water vapour as a by-product. There is no smoke and no tailpipe car..