Leading integrated real estate platform Square Yards has officially confirmed a new and pioneering acquisition. The company has acquired PropsAMC for an undisclosed sum. The new acquisition is noted for its spectrum of offerings pertaining to asset management, data intelligence and real estate services. The full team at PropsAMC including the co-founders, have joined the team at Square Yards and will keep functioning with the same brand name on a larger canvas.
PropsAMC was founded by Anand Moorthy, former real estate head at RBS Private Banking, Karvy Private Wealth and ILF&S Milestone Fund with Venkat Raghavan, formerly with GE Healthcare, Fidelity and Infosys in senior technology positions. The company was founded in 2016 and presently has $1.5 billion in property assets under management via its SaaS-based innovative platform, covering 100+ clients and also offers technical, legal and valuation services alongside.
The data platform encompasses more than 1 million data points for 15+ uniquely aligned denominators. This helps in analysis of transaction data (lease/sale) along with mortgages, government values, land information, land ownership, reservation, zoning, road-width, RERA details and building permissions. This will be done through the GIS-enabled interface for backing both post and pre-transactional diligence. The platform offers data metrics which are comprehensively mapped for Gurgaon, MMR, Pune and Chennai. It will be adding Delhi, Kolkata, Bengaluru and Ahmedabad in the near future. India’s very first Digital Title Search and Property e-Valuation platforms are also being piloted by the company with some of the country’s leading banks.
The Founder & CEO at Square Yards, Tanuj Shori, stated that with the acquisition of PropsAMC, Square Yards is integrating highly unique and differentiated capabilities of asset management and data intelligence to the entire integrated real estate ecosystem. He talked of investing heavily in data based capabilities of the company with a future vision towards building the most extensive Housing Dictionary for the Indian real estate sector. This will map each and every single transaction, be it a mortgage, listing, rent or sale deal for each organized real estate project in major Indian cities. That is the vision in a nutshell as per Shori. The real estate services and asset management services platforms will be globally scaled up for consumers. They will be offered to all Square Yards’ clients for enabling better management of property portfolios according to Shori.
The Founder & CEO at PropsAMC, Anand Moorthy, stated that the team is delighted to come on-board and join the team at Square Yards. He talked of how Square Yards has a clear focus on industry-wide transactions while striving to ensure more engagement for the overall selling-buying cycle on this platform.
For a detailed report on this read the articles we were featured in:
The Economic Times – https://bit.ly/3scBgGs
Outlookindia – https://bit.ly/3bmno5E
BW Businessworld – https://bit.ly/2Mc0UM6
moneycontrol.com – https://bit.ly/3dz5kI2
Devdiscourse – https://bit.ly/3ug3pho
VCCStartups – https://bit.ly/3dz63Jg
ConstructionWeekOnline – https://bit.ly/3bn9eRI
YourStory – https://bit.ly/3sfukYP
VCCIRCLE – https://bit.ly/3qF1uAK
Published Date: FEB 19, 2021