News Corp-backed Housing.com revenues double; enters top 3 list: CEO Dhruv Agarwala

News Corp-backed realty portal Housing.com’s revenue more than doubled last fiscal year, helping it become one of the top three players in the real estate classified business, a top company executive said.

In January last year, Singapore-based Elara Technologies, which owns PropTiger.com and Makaan.com, bought Housing.com — a start-up founded in 2012 by around dozen IIT graduates. Apart from News Corp and its Australia-based group firm REA, Elara Technologies has SAIF Partners, Softbank and Accel Partners as major shareholders. It has raised $105 million so far from investors.

“In Housing.com, we achieved 110% growth in revenue and 75% growth in traffic during the last fiscal,” said Dhruv Agarwala, who is the CEO of all the three brands — PropTiger, Housing and Makaan.

Even in the first quarter of this fiscal, the company posted a 77% growth in revenue year-on-year, he said but did not share the exact financial details.

“This showcases the market’s faith in all the innovations we created last year post-merger. The company is well on its path to increasing its revenue by over 50% this fiscal year,” Agarwala said.

Housing.com earns revenues from advertisements placed by developers, brokers and homeowners. It also generates revenues by providing marketing tools to builders like 3D Visualization and Augmented Reality.

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At this growth rate, he exuded confidence, that Housing.com would become the market leader within a couple of years.