The latest Indian real estate portal to launch in India, Homeonline.com will go live nationally on 1 August 2016 after a year long investment from publishing giant DB Corp.
DB Corp, which made the announcement in its Q1FY17 quarterly report, says it has been nurturing the website in Raipur and Bhopal to keep its real estate segment ‘strong and protected.’
For the quarter ended June 2016 (Q1FY17) the company's internet segment revenues were Rs 23 crore ($US 3.4m) up by 6.5 per cent from Rs 21.5 crore in the same quarter last year.
Meanwhile losses were Rs 7.29 crore (US $1.1m) for its internet business segment, 8.3 per cent lower from losses of Rs 7.8 crore in the same quarter last year.
For the same segment, DB Corp has liabilities of Rs 8.37 (US $1.24m) crore, up 16.8 per cent from Rs 6.97 crore in the same quarter last year.
The company also posted a growth in advertising revenues of ~21 per cent yoy to Rs. 4136 million citing volume and market
share recovery and a 46 per cent growth in Ebidta to Rs. 1853 million.
The company also points to a strong margin of 32 per cent for the quarter compared to last year's 26.5 per cent margin and and Ebidta of Rs. 1274 million.
DB Corp publishes dailies Dainik Bhaskar, Divya Bhaskar, Saurashtra Samachar, Divya Marathi and DNA.
Medianama reports the following further highlights: