Housing brokerage firm Anarock has started office leasing services and appointed Peush Jain as managing director of the new business vertical.

Homegrown Anarock was established by Anul Puri in April 2017 after serving as country head for 10 years in an international property consultancy firm. Initially, it started with housing brokerage and later on started consultancy services for retail as well as warehousing properties.

Recently, Anarock raised Rs 200 crore from 360 One Asset Management for expansion and growth of its business amid strong consumer demand for residential and commercial properties. Its turnover stood at Rs 440 crore revenue in the 2022-23 fiscal year and is expecting a 30 per cent growth in the last fiscal to around Rs 575 crore.

In a statement on Thursday, Anarock announced the launch of its dedicated commercial office leasing services, and appointed Peush Jain as managing director of the new vertical.

‘It is well known that a sizeable segment of our leadership has a highly pedigreed commercial real estate background. However, our business strategy is phased expansion. While commercial office leasing has always been a must-have in our portfolio, we wanted to wait for the right moment to launch this vertical,’ Puri, who is Chairman of Anarock, said.

The launch of its commercial leasing and advisory vertical aligns seamlessly with the group’s overarching growth strategy, Anarock said.

The company will target international strategic collaborations and aggressively hire top-notch commercial advisory talent to deliver exceptional services to corporate occupiers.

A real estate industry veteran with 23 years of experience in commercial real estate leasing, Jain has deep industry relationships with domestic and multinational occupiers, owners, and investors in various asset classes.

At Anarock, he will spearhead corporate leasing, tenant representation across service lines, landlord representation for key developers, and managing important client relationships.

Anarock has a presence across India and the Middle East. The company provides services across various asset classes — housing, retail, commercial, technology, investment banking, hospitality, land, industrial & logistics and data centres. It is also into research, strategic advisory & valuations, and society management.

Anarock has a team of over 2,200 real estate professionals.

State-run RITES Ltd, a PSU under the Ministry of Railways involved in transport consultancy and the engineering sector, is eyeing markets like Vietnam for international consultancy, a top company official said on Tuesday.

Speaking at an event, RITES Ltd Chairman and Managing Director Rahul Mithal said international consultancy will be a very important focus area for the company.

“One very important focus area of ours is going to be international consultancy… under RITES Videsh which is basically a strategic initiative.”

“It is not a separate unit or anything. It is our inhouse, more focused approach and more focused accounting in which we will see how much revenue and margins we are getting from international consultancy. That is going to be a very important focus area for us,” Mithal told reporters here.

The Memorandum of understanding with Abu Dhabi port is a very important step in that direction, he noted.

The company, he said, has a strategic initiative called ‘RITES Videsh’ which it launched a year back. It is basically a more focussed approach on international business-whether it is international consultancy or it is export of rolling stock.

The company, he said, will tap various sectors including metro, airports and institutional buildings.

Stating that highways is again a very important vertical for the company, he said the PSU is working in many states including North East, in this area.

Mithal said the company was a consultant for the Gwalior airport.

He said the Odisha government wishes the company to do the detailed project report (DPR) for their new upcoming airports. The company, he said, also got orders for providing inspecting engineering services for augmentation of Mangalore and Lucknow airport.

“In airports whether it is for initial DPR or inspecting engineering services, we are getting a lot of orders. This we see as a very important sector,” he explained.

The company sees the metro as a very important sector which it will tap.

Another important area that the company is tapping is institutional buildings and RITES is working on the new block of IIT Delhi, he explained.