The NewsCorp-owned Indian property portal PropTiger.com expects its entire group inclucing Makaan and Housing.com to break even and start earning a profit from 2019-20 reports ET Reality.com
PropTiger.com, which recently merged with Housing.com in a major consolidation in the online realty space, will consider more acquisitions if it complements the company’s existing business operations, its CEO Dhruv Agarwala said.
“Our revenue numbers have not been finalised yet. We are closing the books. But it should be around USD 10-12 million last fiscal,” he told PTI in an interview.
According to Agarwala, the group is expected to break even within the next two years.
“Although right now it’s not our goal, we expect PropTiger and Makaan.com to break even in the 2018-19 fiscal and Housing.com in 2019-20,” Agarwala said.
The real estate sector has not been performing well in the last five years but demand is expected to improve from the second half of this fiscal on the back of the new real estate regulatory law and increased transparency in the sector post notes ban and other initiatives, he said.
“Improvement in the real estate sector will make our path to break even and profitability easier and achievable in couple of years,” Agarwala said, adding that the company would be focusing on monetising its offerings across three brands.