MUMBAI: Investment firm 360 One Asset Management has acquired less than 20% stake in Anarock in a deal that values the six-year-old real estate consultancy firm at Rs 1,000 crore. The investment comes as the realty sector sets to get big this year.
Founders Anuj Puri and Rohin Shah own over 80% of Anarock, which started with a focus on residential services, and has expanded into commercial real estate services as well. It also offers investment banking, research & valuations, app-based flexible workspaces (had acquired myHQ) and society management agency (took over Anacity) services.
360 One has invested Rs 200 crore for a minority interest in Anarock, marking its first investment in the real estate consultancy segment. The $8-billion fund, however, has exposure in the broader realty sector. In June last year, it had invested in Neoliv — a residential platform founded by former Godrej Properties MD Mohit Malhotra.
While the Indian real estate consultancy sector continues to remain fragmented, it has increasingly been moving towards formalisation, said Anarock chairman Puri. This, he described, has been because of regulations mandating transparency & accountability, technological advancements enabling digital listings, virtual tours & online transactions, and the entry of international firms encouraging traditional consultants to improve their service standards.
Before founding Anarock in 2017, both Puri and Shah had a stint at Jones Lang LaSalle (JLL) — one of the world’s leading property consultants. While Puri headed the local unit of JLL in 2007, Shah started his career with the company in 1986.
Eight years later, Shah established Chesterton Meghraj, where Puri was the MD. This company subsequently became Trammell Crow Meghraj, in which US-based Trammell Crow and Puri held a stake. In 2007, Chicago-based JLL combined its India business with Trammell Crow Meghraj and appointed Puri as head of the merged entity. The deal saw Shah’s exit from the real estate advisory business.
Puri quit JLL a decade later in 2017 and along with Shah, bought the residential brokerage business — estimated to be around Rs 3,000 crore — from their former employer.
Today, Anarock is present in 19 cities in India and also has a play in the Middle East with over 2,200 employees.
Founders Anuj Puri and Rohin Shah own over 80% of Anarock, which started with a focus on residential services, and has expanded into commercial real estate services as well. It also offers investment banking, research & valuations, app-based flexible workspaces (had acquired myHQ) and society management agency (took over Anacity) services.
360 One has invested Rs 200 crore for a minority interest in Anarock, marking its first investment in the real estate consultancy segment. The $8-billion fund, however, has exposure in the broader realty sector. In June last year, it had invested in Neoliv — a residential platform founded by former Godrej Properties MD Mohit Malhotra.
While the Indian real estate consultancy sector continues to remain fragmented, it has increasingly been moving towards formalisation, said Anarock chairman Puri. This, he described, has been because of regulations mandating transparency & accountability, technological advancements enabling digital listings, virtual tours & online transactions, and the entry of international firms encouraging traditional consultants to improve their service standards.
Before founding Anarock in 2017, both Puri and Shah had a stint at Jones Lang LaSalle (JLL) — one of the world’s leading property consultants. While Puri headed the local unit of JLL in 2007, Shah started his career with the company in 1986.
Eight years later, Shah established Chesterton Meghraj, where Puri was the MD. This company subsequently became Trammell Crow Meghraj, in which US-based Trammell Crow and Puri held a stake. In 2007, Chicago-based JLL combined its India business with Trammell Crow Meghraj and appointed Puri as head of the merged entity. The deal saw Shah’s exit from the real estate advisory business.
Puri quit JLL a decade later in 2017 and along with Shah, bought the residential brokerage business — estimated to be around Rs 3,000 crore — from their former employer.
Expand
Real estate consultancy firm Anarock has raised Rs 200 crore (USD 25 million) from 360 one asset management limited, part of the 360 one group, a wealth and alternates-focused institution with more than USD 54 billion assets under management.
The fund will be used to enhance company’s tech infrastructure, accelerate its expansion, and introduce new innovations to bolster leadership position.
“360 one asset is 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,” said Anuj Puri, Chairman, Anarock.
Puri said that this is the most opportune time to expand reach and services of the company. The Indian real estate sector is expected to account for 10-13% of India’s GDP by 2025, from its existing share of 7%.
“We project strong and sustained growth for the industry over the next decade, with its potential market value surpassing USD 1 trillion by 2030. Anarock will lead the market with upgraded AI/ML technologies to accelerate our developer clients’ residential inventory sales,” said Puri.
Last FY, Anarock’s revenue was approximately Rs440 crore. It is expected for close the current financial year at Rs 550-575 crore revenue, 30% growth over previous fiscal. Anarock sold approximately 18000 units in 2023. “We have also been impressed by the tech infrastructure and innovative platforms being built by the company,” said Sameer Nath, Chief Investment Officer and head of venture capital & private equity at 360 one asset. Founded in 2017 by Anuj Puri, former Chairman and Country Head of one of India’s prominent international real estate consultants, and Rohin Shah – Managing Director of UK-based Marylebone Asset Management, Anarock has become the leading independent real estate consultancy in India and the Middle East.
“This collaboration will significantly leverage our 30 years of experience in the Indian real estate market and accelerate our pursuit of innovative and market-leading real estate solutions for our clients. Our key focus will remain research and technology-driven marketing and sales of real estate across all major sectors acting for developers, investors, and occupiers,” said Rohin Shah, Director & Co-Founder, Anarock.
Over the last six years, Anarock has expanded from being a residential-focused organization to complementary sectors including retail, commercial, hospitality, logistics and data centres, industrial and land.