Housing.com to invest Rs 35 cr in next 4 months on branding

News Corp-backed
com will
invest USD 5 million (around
35 crore) by March
next year
branding and promotion as it seeks
to increase customer base
on its platform, a top company official said.

In January 2017, Singapore-based Elara Technologies, which owns PropTiger.com and Makaan.com, acquired
com – a startup founded
in 2012 by around dozen IIT graduates
in a major consolidation
in the Indian online real estate business.

It’s now close
to two years from the date of merger with
com. The integration process is complete and has gone well.

“The Housing brand has always been very popular and we believe that this is the right time for us
to launch a fresh brand campaign
to further build recall and affinity for the brand,” said Dhruv Agarwala, who is CEO of all the three brands – PropTiger, Housing and Makaan.

com has roped
in film stars Vicky Kaushal and Kiara Advani for its new TV commercial, which will showcase smart search technology offered by the platform. The campaign, targeting millennials especially women, will be run across media platforms.

“We will be spending about USD 5 million (around
35 crore) over the
next four
in this brand campaign,” Agarwala told media.

After the merger, he said
com re-launched rentals and broker monetisation
to boost topline.

“Our revenue grew by 125 per cent
in FY 2017-18 and we have already achieved a year-
on-year growth of 95 per cent
in this fiscal. Our listings
on the platform
in H1 of FY19, have shown a robust growth at 90 per cent and now stand at 8 lakh,” Agarwala said.

com earns revenues from advertisements placed by developers, brokers and home owners as well as through marketing tools like 3D visualisation and augmented reality, used by builders.

It mainly competes with 99acres.com, Magicbricks.com and Quikr
in this online property classified space.

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