Leading south-east Asian property portal PropertyGuru, has revealed it expects to turn a profit this year, after digesting a string of acquisitions and expanding, reports Bloomberg.
In an interview, PropertyGuru CEO Hari Krishnan said the company’s expansion was helping the company to become profitable.
“We have hyper-growth, our revenues are growing over 30 percent,” said Krishnan who has led PropertyGuru for the last six months. “We are a market leader in four of the five markets and the largest in the region by any measure whether traffic, total listings, revenues.”
The Singapore-based portal has embarked on a series of investments in recent years to expand into new markets and add to its technology and marketing capabilities, driving up costs and cutting into profit. This year, the property search portal will reap the benefits of that expansion, especially in Indonesia and Vietnam, Krishnan said.
PropertyGuru, which has in the past considered a stock listing, isn’t planning an initial public offering this year but won’t rule it out next year, Krishnan says. The company is considering exchanges in Singapore, the U.S., Australia and Hong Kong.