"With PropsAMC, we are adding very unique and differentiated data intelligence and asset management capabilities to our integrated real estate ecosystem."
-Tanuj Shori, Founder and CEO, Square Yards
Indian real estate giant, Square Yards, has just announced the acquisition of data intelligence, asset management, and real estate services leader, PropsAMC, combining the teams of both companies into one entity under the Square Yards brand.
PropsAMC brings with it US$1.5 billion worth of property assets on its SaaS-based platform for more than 100 clients. PropsAMC provides technology services including valuation functions and legal advice. PropsAMC has over one million data points and more than 15 denominators to analyze any real estate services available to better aid home buyers, sellers, and renters.
Shori explained in an email:
“We believe, with this, we are adding very unique and differentiated Data Intelligence & Asset Management capabilities to our integrated real estate ecosystem. We will invest heavily in the data capabilities of PropsAMC with a vision of building the most comprehensive ‘Housing Dictionary’ for Indian real estate that maps every single transaction (listing, sale, rent, or mortgage) for every organized real estate project in the top Indian cities.”
Square Yards will scale-up PropsAMC’s offerings to a global level, converting it into a consumer-facing platform to help clients manage their property inventories.
PropsAMC was established five years ago by Anand Moorthy, the former Real Estate Head at RBS Private Banking, Karvy Private Wealth and ILF$S-Milestone Fund, and Venkat Raghavan, who has held former positions at Fidelity, GE Healthcare, and Infosys.