New Delhi: Full-Stack technology advisory 360 Realtors is expecting a 120% jump in quarterly sales in Q2 FY 22. The company is expecting to sell around ~ 2000 units in the current quarter, a steep jump from the previous quarter where sales volume was undermined due to the pandemic. To realize its growth the advisory is adopting a multifaceted approach that involves systematic investments in digital platforms, increasing the workforce, expanding the franchise network, and foraying into complimentary verticals such as stress asset funding.
Expanding digital Bandwidth
360 Realtors is aggressively moving up the technology ladder to stay on top of their game in the new normal. The company is organizing the second edition of the virtual property show called the E-Propshow in Pune, on 9th, 10th, and 11th July.
Though the pandemic has been a destabilizing factor in an otherwise reviving industry, markets are now gradually opening up and sales volumes are picking up. However, to win in the current scenario, one has to systematically rack up investments in technology, innovation, and digitization. Due to the growing demand for safe and contactless services, digital platforms are set to eclipse their offline counterparts. Going forward, this will be a steady but vocal trend.
“Last year, when we organized our inaugural edition of the E-Propshow, it was acclaimed as an evolutionary step by the industry experts. This time the event is organized at a much larger scale with more than 50,000 registrations. Over 100 projects from 20 major developers will be participating in the 3-day event. Quoted Mr. Ankit Kansal, Founder & MD, 360 Realtors.
“We are expecting around 100-150 on-spot closures. Besides, the event will also help us to build our sales funnel for the future and should clock total closures of around 400-450 units .” Further added Mr. Kansal.
Pune- A Prolific Real Estate Market
One of the reasons to chose Pune for the virtual property show is the inherent strength of the city. Pune in conjunction with the Pimpri Chinchwad region is home to 400,000 IT & ITeS professionals. This makes it a fertile ground for the primary residential market.
It has plenty of demand in the affordable and mid-income segment (INR 40-75 lacs). It is one of few real estate markets in India, where new launches are reviving following the lockdown. Developers understand the underlying demand in the market and are increasing their footprint through new launches.
Thanks to a cosmopolitan appeal and a vast volume of an educated workforce, the city is also one of the early adopters of digital consumerism. Innovative ideas such as virtual property shows are always welcomed by residents.
Blend of Organic and Inorganic growth
“The path ahead is not without challenges, yet it will be an enriching one. Technology is the new game-changer. To wield greater influence, realtors need to shift gear and make investments in technology and innovation.” Quoted Mr, Ankit Kansal.
Going forward, 360 Realtors will be leveraging both organic as well inorganic channels to expand its foothold in the market. It is planning to hire 500 new workforces in the current fiscal. Around ~ 150 has already been on board.
On the inorganic front, the company is ramping up its franchise network, under the flagship of 360 EDGE. This year, it has set an ambitious target of awarding 75 franchises. Out of which, 13 have been distributed so far in the 1st quarter itself.
The company is also foraying into stressed asset funding. It has planned an Alternate Investment Fund (AIF) of INR 500 Crores. The 1st round of funding of INR 100 Crores has been recently concluded. These funds will be invested in projects in Gurugram and Noida.