MagicBricks CEO Celebrates Profitability as IPO Considerations Accelerate

Sudhir Pai, the CEO of MagicBricks, says the company is cash flow positive, profitable, and will consider a public flotation before 2030.

MagicBricks is one of several major players seeking a dominant market position in the rapidly growing Indian market, alongside rival operators REA India (and its flagship portal, housing.com), Square Yards, NoBroker, and 99Acres.

Pai told Business Insider that MagicBricks is considering going public after four years of profitability, earmarking  2027 or 2028 as potential timelines for an IPO.

He said:

We are actively integrating AI into various workflows. The first phase is focused on productivity and quality enhancements internally. We have achieved significant improvement in listings moderation and document summarization.

As well as operating a real estate marketplace, MagicBricks offers a mortgage business (MagicLoans), where homebuyers can receive mortgage offers from over 30 lending partners, and a home interior design service (MagicInteriors).

The company has a proprietary AI-driven CRM, ReadPro, acquired in 2020, reporting that the CRM was live in over 200 cities in January 2025.

MagicBricks recently put a messy episode behind it after resolving a boycott dispute with India's National Association of Realtors (NAR-India), following the company's social media post disparaging the role of brokers in the country.

MagicBricks took a majority stake in the 3D visualisation and immersive technology solutions provider PropViz in December 2024.