360 Realtors sees record revenue in FY19

Gurgaon based Real estate brokerage firm 360 Realtors' saw a record revenue growth of 46% to Rs 152 crore during the last fiscal, due to higher sales of housing and commercial units in value and volume terms, according to a top official in the company.

360 Realtors has over 50 offices across India and overseas and a sales force of more than 1,000 people. The company sold 6,000 units worth Rs 4,100 crore during the 2018-19 financial period. In the previous fiscal the company had sold 4,023 units worth Rs 2,682 crore.

Ankit Kansal, MD 360 Realtors stated, "Our brokerage revenue increased by around 50 per cent last fiscal, helping us to become profitable."

Nearly 30% if the sales were from Non-Resident Indians (NRIs), which included investors from the Middle East. The real estate market is on a rebound, and is expected to see positive growth over the coming months. He added that the real estate housing market will remain stable over the next 6-8 months. 360 Realtors unique broker aggregation program as well as the strategic advisory services for developers and a media house has helped achieve higher growth in the last fiscal year.

360 Realtors has become a renowned name in residential spaces and has recently forayed into commercial sales and leasing segments as well. The company is also planning to acquire a brokerage firm in the US to market Indian properties. The company is in discussions with some of the US-based brokerage houses which are marketing Indian properties in America.

In the current fiscal year, 360 Realtors plans to sell 12000 units, and has stated that it will be doubling its workforce. The overall real estate market seems bullish due to the new regulatory reforms as well as healthy economic growth in the sector. A number of developers are launching new attractive schemes for home buyers including subvention schemes, freebies and attractive prices which will further boost the real estate sector in the coming months.

"The overall real estate market in India has once again started turning bullish on the back of regulatory reforms and healthy economic growth. Developers are also coming up with numerous attractive schemes such as developer subvention, attractive prices and freebies, thereby giving a buying boost," Kansal said.

360 Realtors competes with PropTiger.com, Square Yards, Investor Clinic, ANAROCK, and Wealth Clinic in the organised property brokerage business, that has come under the new realty law RERA (Real Estate Regulatory Authority).