Bengaluru, 5 February: Real estate consultancy firm ANAROCK on Monday said it has raised Rs 200 Cr ($25 million) from 360 ONE Asset Management.
This investment will enable ANAROCK to enhance its technology infrastructure, accelerate its expansion, and introduce new innovations to bolster its position in the Indian real estate services space.
360 ONE Asset Management, which was earlier known as IIFL Asset Management, is one of India’s largest alternate asset management firms, with around $54 billion assets under management.
“We are delighted to have 360 ONE Asset as our first equity investor. This investment will go a considerable way in keeping ANAROCK at the forefront of the industry by fuelling further innovation and growth. The capital has been earmarked for faster business expansion and fine-tuning our proprietary proptech platforms, which have proved to be game changers for our real estate marketing capabilities. We will continue to explore new high-growth business opportunities,” said Anuj Puri, Chairman of ANAROCK.
According to the real estate consultancy firm, the Indian real estate sector is expected to account for 10-13 per cent of India’s GDP by 2025, from current 7 per cent. The potential market value of the real estate market is expected to surpass $1 trillion by 2030.
“ANAROCK will lead the market with upgraded AI/ML technologies to accelerate our developer clients’ residential inventory sales,” Puri added.
Commenting on the development, Sameer Nath, Chief Investment Officer and Head of Venture Capital & Private Equity at 360 ONE Asset, said, “We are delighted to be the first equity investor for ANAROCK. In ANAROCK, we observe a top-class management team, premier marketing and advisory capabilities and a clear leader in India’s large and growing real estate services sector. We look forward to partnering with Anuj, Rohin and the entire ANAROCK team in the next phase of their exciting growth journey.”
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