Anarock raises Rs 200 cr funding from 360 ONE Asset
05 Feb 2024
3 Min Read
CW Team
ANAROCK, a leading Indian independent real estate consultancy, has announced an investment of ~INR 200 Cr (USD 25 Mn) from 360 ONE Asset Management Limited (earlier known as IIFL Asset Management) (360 ONE Asset), one of India's largest alternate asset managers and part of the 360 ONE group, a wealth and alternates-focused institution with more than USD 54 Bn assets under management. This investment will enable ANAROCK to enhance its tech infrastructure, accelerate its expansion, and introduce new innovations to bolster its leadership position in the Indian real estate services space.
Commenting on this partnership, Anuj Puri, Chairman - ANAROCK, said, 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 fueling 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.
"This is by far the most opportune time to expand our reach and services, says Puri. 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 Tn by 2030. ANAROCK will lead the market with upgraded AI/ML technologies to accelerate our developer clients residential inventory sales.
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 have also been impressed by the tech infrastructure and innovative platforms being built by the company. We look forward to partnering with Anuj, Rohin and the entire ANAROCK team in the next phase of their exciting growth journey. Our partnership with 360 ONE Asset is the result of months of strategic planning, as we were seeking a partner who shares our commitment and passion for innovation in the real estate consulting and technology space, said Rohin Shah, Director & Co-Founder - ANAROCK. 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.
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. ANAROCK provides industry-defining technology-driven solutions.
The partnership with 360 ONE Asset will mirror the economic and financial growth of India across all real estate sectors.
ANAROCK, a leading Indian independent real estate consultancy, has announced an investment of ~INR 200 Cr (USD 25 Mn) from 360 ONE Asset Management Limited (earlier known as IIFL Asset Management) (360 ONE Asset), one of India's largest alternate asset managers and part of the 360 ONE group, a wealth and alternates-focused institution with more than USD 54 Bn assets under management. This investment will enable ANAROCK to enhance its tech infrastructure, accelerate its expansion, and introduce new innovations to bolster its leadership position in the Indian real estate services space.
Commenting on this partnership, Anuj Puri, Chairman - ANAROCK, said, 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 fueling 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.
This is by far the most opportune time to expand our reach and services, says Puri. 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 Tn by 2030. ANAROCK will lead the market with upgraded AI/ML technologies to accelerate our developer clients residential inventory sales.
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 have also been impressed by the tech infrastructure and innovative platforms being built by the company. We look forward to partnering with Anuj, Rohin and the entire ANAROCK team in the next phase of their exciting growth journey. Our partnership with 360 ONE Asset is the result of months of strategic planning, as we were seeking a partner who shares our commitment and passion for innovation in the real estate consulting and technology space, said Rohin Shah, Director & Co-Founder - ANAROCK. 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.
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. ANAROCK provides industry-defining technology-driven solutions.
The partnership with 360 ONE Asset will mirror the economic and financial growth of India across all real estate sectors.
Next Story
CRCL, IIT Delhi Sign MoU to Boost Science and Ease of Business
The Central Revenues Control Laboratory (CRCL), Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) toward trade facilitation and improving the ease of doing business. This MoU collaboration aims to foster R&D, innovation, and scientific excellence at CRCL, bolstering trade facilitation and regulatory efficiency.The MoU was signed by Prof. Rangan Banerjee, Director, IIT Delhi, and Shri V. Suresh, Director, CRCL, in presence of Shri Surjit Bhujabal, Speci..
Next Story
CAQM Sub-Committee Activates 27-Point Plan to Improve NCR Air Quality
The daily average AQI of Delhi has been hovering marginally above 200 threshold with forecast of slight improvement since last two days. Today, Delhi鈥檚 daily average Air Quality Index (AQI) clocked 213 (鈥楶oor鈥� category), as per the daily AQI Bulletin provided by the Central Pollution Control Board (CPCB), owing to variable winds. In wake of the average/ overall air quality of Delhi recording 鈥楶oor鈥� air quality category ranging between 201-300, the CAQM Sub-Committee on GRAP met today to take stock of the current air quality scenario of Delhi-NCR. While comprehensively reviewing the a..
Next Story
DoT Launches Financial Fraud Risk Indicator to Boost Cybersecurity
In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of 鈥淔inancial Fraud Risk Indicator (FRI)鈥� with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.What is the 鈥淔inancial ..