Housing.com parent firm REA India clocks 25 pc revenue growth to AUD 129.2 mn last fiscal

New Delhi, Aug 19 (PTI) REA India, which owns Housing.com, has posted a 25 per cent growth in its revenue to Australian dollar 129.2 million (Rs 711 crore) last fiscal ended June, amid strong demand for residential properties.

REA India, which is part of Australia's publicly listed firm REA, is a full-stack real estate technology firm and owns two online classified advertisement platforms Housing.com and Makaan.com. Recently, it announced divestment of housing brokerage arm PropTiger.

The company's loss at EBITDA (earnings before interest, taxes, depreciation and amortisation) reduced to Australian dollar 28.4 million in 2024-25 fiscal (July-June) from AUD 35.8 million in FY24.

"FY25 has been a landmark year of growth and strategic clarity for us. Our focus remains firmly on delivering a superior consumer experience by using technology to address real-world challenges in the home-buying journey — from improving listing quality and accuracy to simplifying discovery and decision-making," Praveen Sharma, CEO of REA India, said.

In the last fiscal, he said the company recorded a 19 per cent rise in app traffic and a 58 per cent increase in verified listings.

"As we continue to strengthen our presence in Tier-2 cities and innovate across our platforms, we remain committed to growing the top line in a way that accelerates our path to profitability and long-term value creation," Sharma said.

The REA India CEO said that the proposed divestment of PropTiger would allow the company to focus on scaling the Housing.com business.

Last month, Aurum PropTech Ltd announced the acquisition of PropTiger from Australia's REA Group for Rs 86.45 crore as part of its expansion plan. Aurum will issue preferential shares to REA India as consideration for this deal.

PropTiger was founded by Dhruv Agarwala in 2011. REA Group acquired a controlling interest in Housing.com as well as PropTiger in 2020.

In April this year, Agarwala resigned as the CEO of REA India. PTI MJH MJH SHW