Southeast Asian proptech giant, PropertyGuru Group, has released its financial report for last year ending on December 31, 2019. The numbers have overcome the original prediction.
|Results||FY19 Actual^ (S$ in million)||Growth% FY19 vs FY18||FY19 Forecast^ (S$ in millions)||Variance to Forecast (%)|
|EBITDA (post-stock compensation)||8.6||+64%||4.4||+97.5%|
PropertyGuru Group saw its fourth year in a row with high growth in the face of an unyielding market with 24% year-over-year growth.
The company continues to lead the market in Southeast Asia with 59% market share. More specifically, it leads in Singapore with 75% and Vietnam with 69% market share.
Within the last year, PropertyGuru has invested in a number of channels to aid in this growth. It launched a mortgage marketplace in Singapore called PropertyGuru Finance and updated its Vietnamese platform, Batdongsan.com.vn. PropertyGuru also increased offerings with PropertyGuru FastKey, its end-to-end sales enablement solution for property developers. These offerings include data-driven insights and more avenues of income for its agent partners.
For property developers, FastKey offers “walkthroughs of apartments and entire projects, set within cityscapes, with the ability to show real-time availability, straight to the screens of property seekers who are home-bound given Covid-19.” This allows property developers to begin marketing their projects earlier.
Other highlights include:
- >80% organic traffic
- >2.7 million monthly real estate listings
- >45,000 active agents
- >24.5 million monthly property seekers
Speaking on the results, CEO & Managing Director, Hari V. Krishnan, said:
“Our leadership team is unparalleled in experience and pedigree in the region. Our strong financial position has enabled us to invest aggressively and smartly, to build what is today an integrated and differentiated technology platform that caters to the unique opportunities in Southeast Asian markets. We are positioned for strong sustained growth when we all emerge from this challenging Covid-19 crisis.”
PropertyGuru has invested over 170,000 development hours in the last three years. Its dedication to proptech innovation is bar none in Southeast Asia.
The mobile app was among the first in the market and has aided in user engagement, toting more than 5.7 million downloads, with 74% of customers accessing its platform from their mobile devices.
When it comes to responding to the COVID-19 pandemic, PropertyGuru has been in support of its communities. The company has kept an eye on communities across Singapore, Vietnam, Malaysia, Thailand, and Indonesia, making sure it continues to follow all public health recommendations while offering new ways for local communities to continue listing.
PropertyGuru has started a social media campaign in the name of those most affected by the pandemic: Check out the hashtags #LendASpace and #NeedASpace.
Other measures PropertyGuru has taken in support of social distance and keeping in mind the number of those now jobless due to the pandemic include:
- Reduced prices
- Extensions on products
- New tech for property viewing that supports social distancing and lockdown measures
- New income streams
- Free access to critical resources.
It is no surprise that PropertyGuru is continuing to lead the way within the Southeast Asian market. Even in the face of adversity and the issues that have arisen due to the global pandemic, PropertyGuru has a way to deal with the punches as they come.