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PropEquity plans IPO, to time it with housing sector revival
DNA  |  December 7, 2017

Mansi Taneja

PropEquity, a real estate research firm, plans to go for an initial public offer (IPO) in the next 2-3 years and is eyeing a valuation of about Rs 1,000 crore.

 

Besides, the data analytics firm is targeting a revenue of Rs 80-100 crore by next 2-3 years, PropEquity's CEO Samir Jasuja told DNA Money.

 

Jasuja has recently bought back 80% stake in PropEquity from global asset management firm Och-Ziff Capital. It had invested $10 million in PropEquity in tranches starting 2008, according to sources. Earlier, Jasuja held a 20% stake in the company.

 

The company will soon launch a commercial and retail data and analytics platform covering over 70,000 lease transactions in top eight cities. "We are targeting Rs 20 crore revenue from this vertical in the next two years and another Rs 30 crore from collateral risk assessment vertical," he said.

 

"We have started scaling up a collateral risk assessment vertical, which caters to banks such as SBI, ICICI, HDFC and Axis Bank," Jasuja said. Currently, it has an employee strength of 150 people and plan to hire 100 more in the coming few quarters.

 

"We will deploy new technology and tools in commercial and retail verticals. It will include artificial intelligence and machine learning tools including facial intelligence in retail and commercial buildings," he said.

 

For technology, it is partnering with Microsoft and in in discussions with other US firms to bring new tools in the data analytics space. "One can assess the shortage in supply specific to cities, rental/deal patterns in commercial and retail space apart from other features, which will make decision easy for investors/buyers," he said.

 

It had earlier partnered with MCX to launch a tradeable price index. It has also built a housing start-up index with Reserve Bank of India and Ministry of Housing.

 

PropEquity, which currently focuses on only residential data and analytics, was started by Jasuja in 2008.

 

The real estate market, which has been facing a slowdown, is expected to revive in the next 1-2 years, Jasuja said. "The residential market has bottomed out. There will be no upward movement in prices. Developers are focusing on clearing existing inventories rather than launching new projects. And with the implementation of GST and Rera in the sector, the transparency in the sector will return, which will bring back investors into the market," Jasuja said.

 

CONCRETE PLANS

Samir Jasuja has recently bought back 80% stake in PropEquity from global asset management firm Och-Ziff Capital. 

The company will soon launch a commercial and retail data and analytics platform covering over 70,000 lease transactions in top eight cities