Proptech Startup Reloy Announces 65% Jump in Revenues

Reloy Revenue

Three points you will get to know in this article:

  • Revenue Of Reloy Surges 65% To Rs 21 Crore, Referral Sales At Rs 1,450 Crore
  • Reloy is moving towards a healthy financial path
  • Real Estate Is Adopting Technology Rapidly

Introduction to Reloy

Reloy is a forward-thinking company in the proptech (property technology) space that is committed to revolutionizing the purchasing, selling, and administration of real estate. Preloy seeks to improve property management effectiveness, expedite real estate transactions, and offer data-driven insights for better decision-making through the use of cutting-edge technology. Their solutions combine automation, sophisticated analytics, and user-friendly platforms to make the process smooth and easy for investors, sellers, purchasers, and property managers. With an emphasis on efficiency, openness, and client happiness, Preloy is reshaping the real estate industry.

Reloy’s FY24 Results Are A Sign Of A Well Performing Business Model

Due to robust housing demand, HDFC Capital-backed proptech firm Reloy, which assists builders in generating referral sales, reported a 65% increase in revenue to Rs 21 crore in the previous fiscal year. The company’s 2022–2023 fiscal year revenue was Rs 12.7 crore.CEO and founder of Reloy Akhil Saraf told PTI, “Our growth is on account of higher referral sales and client acquisitions.”

“We helped builders in generating Rs 1,450 crore worth of referral sales in the last fiscal,” Saraf stated. In the current fiscal year, the company aims to create revenues from referrals of Rs 3,500 crore.

Reloy, which was established in 2015, is an expert in real estate loyalty and referrals. Builders may manage their builders and brokers more effectively with the help of this B2B2C homeowner and broker management tool.

Reloy has collected a total of Rs 13 crore from investors thus far, with HDFC Capital holding a roughly 10% interest in the firm. It raised Rs 7.2 crore from investors last year in order to grow its company. All of Reloy’s current investors took part in a pre-series A2 investment round last year, along with new investors like Dream Green Capital and BlueLotus VC.

The business raised Rs 5.9 crore from investors in February 2022.”Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home finance,” Saraf stated.

Transforming Real Estate With Tech

Among its clientele are Godrej Properties, Brigade, Piramal, Rohan Builders, L&T Realty, Smartworld, BPTP, Purti Realty, Embassy Residential, Mahindra Lifespaces, DLF, M3M, Shapoorji Pallonji Real Estate, Kolte Patil, and so on.

The business assists homeowners with tasks including tracking construction, managing documents, and making payments after a purchase. Additionally, it establishes a market for related needs related to house finance and interior design.

Reloy, which was established in 2015, is an expert in real estate loyalty and referrals. Reloy just released “Connectre 4.0,” the most recent iteration of their referral software. Now that this platform has been updated, builders may design a seamless experience from site visit to possession.

According to Saraf, the updated software encourages loyalty and generates recommendations at every turn by enabling users to easily traverse their home-buying path.

Real Estate has traditionally been a sector with extremely low tech adoption, however, with the advent of players like Reloy, the sector is all set for a rapid tech integration to not only make the sector more efficient but also to garner the confidence of both the investors and the builders alike.

Karan Balodi

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