Dhruv Agarwala, the CEO of REA India, that owns actual property labeled platform Housing.com, has resigned from the corporate to pursue his personal entrepreneurial journey.
In 2011, Agarwala co-founded proptech agency Elara Applied sciences which owned PropTiger, one of many main housing brokerage corporations within the nation. (LinkedIn/Dhruv Agarwala)
In 2011, Agarwala co-founded proptech agency Elara Applied sciences which owned PropTiger, one of many main housing brokerage corporations within the nation. Later in 2017, he acquired Housing.com from Softbank and others.
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Australia’s REA Group acquired Elara Applied sciences in 2020 and took management of Housing.com and PropTiger.
In a press release on Thursday, Australia’s REA Group introduced that Agarwala has determined to step down as CEO of REA India after 14 years with the enterprise.
“Agarwala will remain with the business to support the appointment of his successor and ensure a smooth leadership transition before departing. A comprehensive process to appoint a new CEO is underway,” it added.
REA Group CEO Owen Wilson famous that Agarwala’s management has been a key driver of REA India’s development.
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“Dhruv is an exceptional entrepreneur and has harnessed the rapid expansion of digital real estate in India to build a high growth business. He has created a culture of innovation and developed a talented team who have delivered a market-leading audience and significant revenue growth in a highly competitive market. He leaves behind a considerable legacy that will have a lasting impact,” Wilson mentioned.
Commenting on his resolution to step down, Agarwala mentioned it has been a privilege main REA India.
“From founding PropTiger in 2011 to growing Housing.com into India’s foremost digital real estate platform, it has been an amazing journey. Now feels like the right time for me to step away and create space for new leadership to take the company forward,” he mentioned.
Agarwala mentioned REA India is in nice form – with a transparent technique, a robust staff, and a strong model that is altering the way in which individuals expertise property in India.
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REA India posted a 46 per cent development in its income to 64 million Australian greenback ( ₹357 crore) within the first half of 2024-25 fiscal 12 months ending June, serving to it to scale back losses.
The corporate’s income grew 31 per cent to ₹563 crore in 2023-24 fiscal (July-June), from ₹430 crore within the previous 12 months.
REA India, which is a part of Australia’s publicly listed agency REA, is a full-stack actual property know-how agency and owns two on-line labeled commercial platforms Housing.com and Makaan.com in addition to housing brokerage platform PropTiger.