Startups based on rental apps (for handheld devices and computers) provide services to people for leasing cars, bikes, rooms, homes, or heavy equipment. Rental startups are there to facilitate a way for people to experience something without owning it. One can think of driving that dream car or bike for a short term without having to purchase it at an exorbitant price.
The forecasted Car Rentals segment revenue for India is at $2.17 billion in 2022. By 2026, a market volume of $2.95 billion is predicted, with revenue forecast to expand 7.92% annually (CAGR 2022-2026). This article discusses the leading rental companies in India that are radically changing this sector.
The Global bike-sharing market is estimated to grow to over 13.7 Billion by 2026
Myles
Founder
Sakshi Vij
Founded in
2013
Operational cities
Delhi, Mumbai, Pune, Noida, Gurgaon, Bangalore, Chennai, Hyderabad, and other 13 cities
Myles Founder | Rental Startups in India
Myles often reviewed as one of the best car rental companies in India, has 38 awesome cars one can choose from according to the need. Myles allows you to rent a car across 21 major cities in India. The cities include Delhi, Mumbai, Chennai, Goa, Jaipur, Pune, and many more.
Zoomcar
Founders
Greg Moran and David Back
Founded in
2013
Operational cities
Bangalore, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and other 28 cities
Zoomcar Founders | Greg Moran and David Back
Zoomcar is one of the top rental companies in India, operating in over 34 cities. You can hire a car from a diverse spectrum that starts with a Tata Nano and extends to expensive, high-end models like the Mercedes GLA. You can rent a car anywhere from an hour to a month.
House Rental Startups
According to Knight Frank India, the average home price increased by 3% to 10% in July-September, 2022, while office rent increased up to 13% as a result of increased demand for properties. Here are some of the property rental startups in India:
Housing
Founders
Rahul Yadav and 11 other IIT, Bombay Graduates
Founded in
2012
Operational cities
Chennai, Mumbai, Bengaluru, Kolkata, Delhi, and other 34 cities
Housing ex-Founder and ex-CE0 | Rahul Yadav(on right)
For those looking for a flat on rent, Housing is the answer. This startup is devoted to connecting people with the one of their choice. You can choose from different types of flats: fully furnished, unfurnished, semi-furnished, etc. The extensive network for Housing across India means that finding a place will be as easy as ABC!
Fairpockets
Founders
Ritesh Anand & Rumki Sengupta
Founded in
2017
Operational cities
PAN India
Fairpockets Logo | Rental Startups in India
Fairpockets is a fair-price property portal and a SaaS-based mobile marketplace. It is an online platform that connects the trio of buyers, sellers, and brokers. Fairpockets allows free property posting on its website, and the valuation of the property is done for resale before the advertisement goes live. One can also rent properties through Fairpockets. Its price calculator, inventory management, lead management, and communication system features are highly rated and sought after.
NoBroker
Founders
Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg
Founded in
2014
Operational cities
Mumbai, Bangalore, Pune, and other cities
NoBroker co-founders | Saurabh Garg, Amit Kumar Agarwal, and Akhil Gupta
NoBroker is another application that assists in putting up homes for rent. As the name suggests, the startup stays clear of brokers and other middlemen to avoid unnecessary problems. The platform has over 30,00,000 monthly users, and its services are available in Mumbai, Bangalore, Pune, Chennai, Hyderabad, Delhi, Faridabad, Noida, Ghaziabad and Gurgaon.
RentRoomi
Founders
Nitin Sharma
Founded in
2016
Operational cities
Hyderabad, Delhi, Bangalore, Jaipur, and other cities
RentRoomi Logo | Rental Startups in India
RentRoomi helps search for accommodations avoiding fake listings and endless site visits. The company is working to solve the problem of Generation Y by letting them find suitable accommodation in cities with the roomies of their choice. RentRoomi currently operates in Hyderabad, Delhi, Bangalore, Jaipur, Pune, Mumbai, Kolkata, and Chennai. Nitin Sharma is the founder and CEO of RentRoomi. An engineer by qualification, Nitin worked in a software development company as a project planning and business developer before starting RentRoomi.
99acres
Founders
Sanjeev Bikhchandani
Founded in
2005
Operational cities
Across India
99acres Logo | Rental Startups in India
99acres is an Indian real estate platform founded in 2005 by Sanjeev Bikhchandani. It allows users to search for properties and land to buy, sell and rent, all through the comfort of their mobile phones. The company caters to almost all Indian cities and is a behemoth in the online real estate market. Over 10,000 properties are listed every day.
Magicbricks
Founders
The Times Group
Founded in
2006
Operational cities
Bangalore , Chandigarh , Chennai, Delhi NCR, and other cities
Magicbricks Logo | Rental Startups in India
Magicbricks is a division of Times Internet Group Limited. The platform allows buyers and sellers to locate properties in India. Magicbricks provides all the information about the property it lists and let people buy or rent the same through its website. It has over 15,00,000 active property listings. Founded in 2006, it has its headquarters in Noida.
NestAway
Founders
Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev
NestAway is an online home rental marketplace for individuals and families. It provides fully furnished and well-maintained rooms and flats for rent without brokerage fees. NestAway has headquarters in Bengaluru, and its services are across 13 cities, including Noida, Pune, and Mumbai.
Room rental Startups
Airbnb
Founders
Brian Chesky, Nathan Blecharczyk, and Joe Gebbia
Founded in
2008
Operational cities
220+ countries and regions
Airbnb Logo | Rental Startups in India
Airbnb is a California-based startup for arranging and offering to lodge. Airbnb focuses on temporary homestay and tourism. It provides rooms for the home stay to people, and homeowners can easily list their properties on their platform using the Airbnb app or website. Airbnb acts as a broker, receiving a commission for each booking made from its platform.
OYO rooms
Founders
Ritesh Agarwal
Founded in
2012
Operational areas
Europe, Asia and United States
OYO Logo | Rental Startups in India
OYO, a Gurgaon-based company, is the biggest platform in India and one of the world’s fastest-growing hotel chains for booking hotel rooms at pocket-friendly prices. The parent company of OYO is Oravel Stays Private Limited. Its services are available in 35 countries. Under Ritesh Agarwal, OYO is rapidly building its dominance outside India through an acquisition spree.
TRIVAGO
Founders
Rolf Schrömgens, Stephan Stubner, Peter Vinnemeier, and Malte Siewert
Founded in
2005
Operational areas
190 countries worldwide
trivago Logo | Rental Startups in India
A Germany-based company, trivago specializes in Internet-related services and products in the hotel, lodging, and meta-search fields. trivago, founded in Germany in January 2005, offers research and compares facilities for over 5 million hotels by leveraging information from over 300 hotel booking sites and other types of accommodation in over 190 countries.
Medical Equipment Rental Startups
PrimedeQ
Founders
Shanthi Mathur and Achudhan Mani
Founded in
2016
Operational areas
250 hospitals across 6+ states and 65+ cities
PrimedeQ Logo | Rental Startups in India
PrimedeQ, India’s first comprehensive B2B eMarketplace for Products and Services related to medical equipment & devices, provides access to multiple affordable, good-quality medical equipment for rent. It aims at bringing down selling costs for sellers through its virtual platform. Hospitals can buy, sell or rent equipment, get medical equipment serviced, and purchase spares & accessories–both new and used. Shanthi Mathur and Achudhan Mani are the founders of PrimedeQ. Shanthi Mathur is the CEO of PrimedeQ, whereas Achudhan Mani is the director of PrimedeQ.
Portea
Co-Founder and Chairperson
Meena Ganesh
Founded in
2013
Operational cities
Bangalore, Mumbai, Chennai, Pune, Hyderabad, and other cities
Portea Logo | Rental Startups in India
Portea provides healthcare equipment rental services in over 40 cities in India. In addition to medical equipment, it lists healthcare professionals’ services like attendants, nurses, and doctors. One can place an order for medical equipment(s) on Portea’s website and get the same delivered to their doorstep. Portea also provides a lab test facility at home.
Conclusion
Renting is not only cheaper but also gets rid of the tension that comes bundled with ownership. There has been a seismic shift toward the renting culture, especially among the millennials. The craze for tourism and exploration has only bolstered this shift.
FAQs
Which are the top Rental Startups in India?
Some of the top Rental Startups in India are:
Myles
Zoomcar
99acres
NoBroker
Magicbricks
Housing
Fairpockets
NestAway
OYO
trivago
Airbnb
RentRoomi
PrimedeQ
Portea
Which are the sites for rental homes in India?
99acres, NoBroker, Magicbricks, and NestAway are the best site for rental homes in India.
Is Zoomcar a good option?
With Zoomcar, you can hire a rental or self-drive vehicle of your choice for a reasonable price. The cars have all-India permits, and Zoomcar offers many stations across the nation from where you can pick up your preferred vehicle. So it is a good option.
Which is the site to sell property in India?
99acres, NoBroker, Magicbricks, and NestAway are among the best sites to sell property in India.
Which are the sites for hotel booking in India?
OYO rooms and trivago are the hotel booking sites in India.
Which are Medical Equipment Rental Startups in India?
PrimedeQ and Portea are among the best Medical Equipment Rental Startups in India.
Using celebrities as brand ambassadors have always been a great concept for any business. An ambassador’s entire appearance is designed to capture customer attention, which is why companies are increasingly turning to celebrity brand ambassadors to sell their products. Incorporating a well-known celebrity into a brand enhances the chances of it getting recognised. Advertisers would benefit from using celebrities because they are well-known, and usually have a large following, so it’s reasonable that they would use them to connect with the larger part of their target population.
“Heropanti” movie gave Kriti Sanon her first break in Bollywood, and since then she went on to become a well-known actress with a large following. Her large fan base and influence make Sanon an ideal brand ambassador, and many brands and advertisers can benefit from her popularity and influence. It could be a smart move to have Kriti Sanon endorse a brand because she will bring the brand to the attention of her enormous audience and fan base. Businesses would love to recruit her as the face of their brand because of her popularity.
Kriti has appeared in a number of commercials, some even before her big Bollywood debut. She used to be a model and has been in commercials for companies such as Amul, Samsung, and Himalaya. Kriti Sanon launched “The Tribe” on May 23, 2022, a fitness startup, which is the first startup that Kriti Sanon founded. Cofounded along with Anushka Nandani, Karan Sawhney, and Robin Behl, Kriti Sanon mentioned that “The Tribe” will launch its app next year.
The Tribe – A startup founded by Kriti Sanon
The Tribe “believes in motivating you to become the best and the fittest version of yourself- Be it with in-studio, group/personal or virtual sessions”, said its Cofounder and Bollywood actress Kriti Sanon. The Tribe currently offers virtual and ‘in-studio’ products, which include training workshops and tailor-made nutrition plans.
Now that she is a well-known celebrity, she has signed deals with a large number of companies to be the face of their products. In this article, we will talk about all the advertisements she has done so far.
Kriti Sanon Tv Commercials | Brands endorsed by Kriti Sanon
List of Brands endorsed by Kriti Sanon
Below is the list of brands that have been endorsed by Kriti Sanon:
Fossil
Kriti Sanon has been roped in by the American watches and accessories firm Fossil as its brand ambassador on September 13, 2021. Fossil is an upper-tier brand of watches and accessories that has been a rage in ecommerce websites and stores in India. While onboarding Kriti Sanon, Johnson Verghese, the Managing Director of Fossil Group, India, said, “Kriti’s chic, vibrant fashion sense perfectly expresses her authenticity, aligning with Fossil’s brand ethos and commitment towards being true to oneself.” Here’s the Fossil advertisement where Kriti Sanon is featured along with her Bollywood costar Varun Dhawan, who is also famous for his brand endorsements.
Joy
Kriti Sanon Endorsed brand- Joy | Brand Ambassador of Joy
In 2019, the leading skincare brand Joy hired Kriti Sanon as its brand ambassador with a launch of its Honey and Almond body lotion. Poulomi Roy, Chief Marketing Officer, RSH Global, elaborated on the product marketing, saying, “The Honey and Almond body lotion campaign is centred on the mother brand philosophy of JOY “Beautiful by nature.” This campaign was one of the top viral campaigns that year, which was built around the idea that “consumers are evolving”.
Cadbury Fuse
Cadbury Fuse- Kriti Sanon Endorsed brands
Kriti appeared in a Cadbury Fuse commercial as herself at the beginning of 2018. Kriti does an interview on a talk show in the commercial. Someone on set opens a bag of peanuts, chocolate, and caramel-filled Fuse, which she hears. She sheds all grace, tosses her shoes aside, and dashes to receive a taste of the candy. A Bhojpuri song is going on in the background.
Kriti Sanon endorsed brand- Cadbury Fuse
Parachute Advanced Jasmine
Parachute Jasmine- Kriti Sanon Endorsed brands
For almost four years, Kriti has been the ambassador of this product. On July 28, 2014, she revealed her partnership with Parachute on Twitter. Kriti had a great 2014. After Heropanti’s success, she bagged a lot of projects, and Parachute signed her as the face of its Jasmine line.
Boro Plus
Boro Plus Face Wash – Kriti Sanon Endorsed brands
Boro Plus produced a TV commercial featuring Kriti in the center in October 2017. Boro Plus is an antiseptic cream that is widely used in India and around the world. It is owned by Emami which is an Indian multinational conglomerate based in Kolkata, India.
Bata
Bata – Kriti Sanon Endorsed brands
The goal behind the ad was to expand on the surprise concept of the 2019 TVC, in which Kriti shows how style and comfort can unexpectedly coexist in the new Bata 9 to 9 line. Digital, internet, networking, influencers, retail, print, public, and Bata’s CRM channels are among the campaign’s components.
Magicbricks
Magicbricks – Kriti Sanon Endorsed brands
In August 2019, online real estate company Magicbricks signed Bollywood celebrities Ayushmann Khurrana and Kriti Sanon as endorsers. Given the image they have in the common consciousness as a result of their individual bodies of work, Ayushmann and Kriti’s enormous audience reach and mass appeal fit nicely with the advertising narrative.
Whirlpool
Whirlpool – Kriti Sanon Endorsed brands
In March 2018, Kriti Sanon was seen in an ad film with Sushant Singh Rajput supporting Whirlpool air conditioners. Whirlpool is counted among one of the top 9 consumer durable companies in India 2022, which chose Kriti Sanon and Sushant Singh Rajput as its major endorsers because they have a large following of young people, and Whirlpool wanted to appeal to them.
Vivel
Vivel – Kriti Sanon Endorsed brands
In March 2020, ITC’s personal-care brand Vivel signed Kriti Sanon as its major promotional face. Vivel’s soaps and body washes are advertised by Kriti. Vivel was also one of the first ads in which Kriti Sanon appeared when she first started her career.
When Kriti was not as popular as she is now, she performed a TV advertisement for Himalaya Herbals Oil Balancing Face Wash Gel. Kriti has been in a number of advertisements during her modelling career, and this was one of them.
Way back, when Kriti was not as famous as now, she had appeared in a lot of commercials and one such commercial was for Amul Ice Cream back in 2011.
Kriti sanon endorsed brand- Amul Icecream
LG K10
Kriti performed an ad video for LG Mobile Phones variation – K10 in 2017. Kriti also expressed her excitement to be associated with LG through a tweet to her fans. This brought more attention to the product.
Titan
Titan Raga – Kriti Sanon Endorsed brands
In 2017, Kriti posted on social media and also did an ad to advertise the Titan Raga watch line. Titan has launched a lot of new designs with Kriti as the face of the brand.
Boult Audio
Boult Audio is Indian audio and wearables brand founded by Varun Gupta. Where the most popular Indian wearables and audio brand Boat captured the highest (35.8%) market share of the Indian TWS market in Q3 2021, Boult Audio took the fifth spot for the first time ever, holding 5.3% shares of the same market. Kriti Sanon is recognised as the brand ambassador of this growing brand.
Kriti was seen in an advertisement for Samsung Hero mobile phones alongside Amir Khan over eight years ago.
Conclusion
Kriti Sanon has made a name for herself and is a well-known actress with a long list of achievements. She has a major fan base filled with loyal followers and brands know how profitable it is to hire Kriti to endorse their products. She has done a lot of commercials and has always been a part of big brands’ adverts since her modeling days.
Are you looking for a more manageable home? A dream home? Or want a place you and your family can call home? Want a rental estate? Don’t know where to get the best area to dwell? Are these questions bothering you a lot? Real estate is usually the best investment choice for you. It can produce endless passive earnings and be an excellent long-term investment if the price rises over time.
Magicbricks is India’s leading online portal for buying, selling, and renting Properties. The company also solves issues and concerns related to real estate investments. Founded in 2006, the real estate portal is owned and managed by Times Group ( Bennett, Coleman & Co. Ltd.)
Magicbricks has been validated by consumers and several industries. It has been granted Super-brand status in the most recent survey by the Super-brands organisation. Lets get an insights on business model of Magicbricks and learn about how Magicbricks make money?
How to make money from real estate | Business Models
About Magicbricks
Magicbricks is an online forum for both estate buyers as well as sellers. The corporation is a division of Times Internet Limited. It’s a fully-owned assistant of Bennett, Coleman & Co. Ltd. It also gives all kinds of sources and information about all property-related matters.
Keeping this aside, there is a report column called “Property Pulse” which comprises estate news, household loan concerns, legal and taxation matters, and estimation of the properties.
Areas of operation
Magicbricks Provides its services in India and Globally
There are more than 200 estates vacant for sale in Mumbai. Located at the main sites of Mumbai with easy connectivity to close hotspots, these estates promote premium facilities and large interiors. With an incredible site, massive connectivity, and luxurious conveniences, these are decent places to discover residential estate, mainly in Mumbai. It provides its services in 60+ cities in India.
Key Products and Services
Magicbricks.com is a high-end estate portal that caters to an international market with unique and special services and novel online details. Since its launch in 2006, Magicbricks has quickly climbed to be the No. 1 Estate Portal in India. The Magicbricks design is based on strict exploration, distinct product developments, and creativity which the users have ratified. In a trial to serve the users, captions on the Magicbricks portal are often developed, analyzed, and promoted.
Apart from buying, selling, and hiring properties in India, users have entry to the services. The announcement column of Magicbricks “Property Pulse” comprises estate news, home loans interests, legal & taxation matters, authority viewpoint, and proper analysis of estate trends. The Buyer’s Guide is a real estate eBook that covers all the essential steps and stages entailed in property buying and contains answers, quick tips, and expert advice on what to look for and how to manage property buying.
Target Audiences of Magicbricks
Magicbricks.com is compatible with internationally praised estate fairs. It’s here that the top-notch estates of major Indian metros are showcased for audiences in India and abroad. Magicbricks.com has successfully hosted 75 households and over 15 multinational property shows around the world.
Ever wonder how companies work? What exactly goes on behind the scenes? How does it make money? Every business obeys a particular technique of working. And that technique is its business model. First, defining here the business model of Magicbricks. Real estate Firms like Magicbricks, 99acre and others have also got a similar business prototype:
Their source of income involves rates for documenting a specific estate. This means it is better than free documenting.
Magicbricks implicates the person promoting a quantity for a premium, documenting the publicity for particular products.
There are many properties at Magicbricks. So for them, they promote the properties with various shades.
The real estate business company gives perfect locality data with real locality pictures.
Advertisements are a very familiar word. Everyone has come through it once, twice, thrice, or even more. It receives money from the pennants as well. Of course, it’s an online portal so, from those searches too, it collects money. It gives suffering of a lot of facilities to their users. Most importantly, it also delivers a feature. It is a luxury online website. Personalized services such as Vaastu, Astrology are yet included within it. Thus, people don’t have to ruin money on these aspects. And in this way the company makes money.
What Is So Unique About Magicbricks?
Magicbricks gives you a culture that is all about creation and winning. It challenges you and brings the absolute best out of you. The dynamism here is such that it draws the next level in you, releasing your actual ability and proficiency vastly better than you have ever thought. This will finally turn you into a high-performer who is full of impressions, outcomes, and unmatchable willingness.
The business has plucked many buyer’s eyeballs towards it. The Real property online portal, MagicBricks has recorded 74% advancement in the second quarter. And the first quarter saw a 48% advancement. But the second one is massive, as mentioned above.
The portable app is better. It’s more than 10 million downloads. It has earned itself the only one of its type to attain the landmark. The firm is experiencing massive improvement day by day. This was much expected as in the last three years, and there was a deceleration in the development process.
MagicBricks is a real-estate portal that makes its money primarily from Producers, who spend a lot to expand their new operations. Another income stream is selling leads to dealers. And ads are just a minor portion of it. Magicbricks and other related portals have better than one income source. First, the Subscription-based model, every dealer on the forum spends some amount upfront to list out properties on the portal. Also, If the dealer is prepared to pay a slight premium, his properties are given appreciation over other properties as a result.
Secondly, Space selling or Media Deals, Traffic on the site is also leveraged by the firm. Banner space is sold to big players who want to promote their brand to the audience who explore the website. For massive construction programs, they also do earn promotion fees. So, they promote your estate for payment and then receive potential leads from buyers.
Property listings website Magicbricks has extended thirty crores from its parent company, Times Internet Ltd. The firm will utilize this budget for brand-building enterprises. Product advancement and seller improvement activities will take place soon. The firm says that it notices itself playing a much more significant role as a consumer. With this capital, more effort will be put into the forum. They are also striving towards having nearly 85% of all the available properties to be documented on their site.
The objective of this business is to give rise to a better and clear place for its laborers with a primary modification. The laborers invade the maximum areas. And the Senior Executives usually receive glass compartments. But these things are gonna shift very shortly.
Now productivity would no longer be an obligatory matter. The corporation will be promoting art and creativeness a lot. Their work techniques and the workplace’s flexibility will be the fundamentals of advancement. Further specialized items will be set into the app as well as the site.
FAQs
Is MagicBricks Indian company?
Magicbricks is India’s leading real estate portals for property buying, renting, and selling.
Which is the best real estate portal in India?
Some of the best real estate portal in India are:
MagicBricks
99Acres
Housing
Common Floor
OLX Homes
Sulekha Properties
Makaan
Quickr Homes
Homes247.in
What are the business structure for real estate?
There are 4 main types of business structures for real estate:
Sole proprietorship
Partnership
Corporation
Limited Liability Company, or LLC.
Who are the top competitors of MagicBricks?
Some of the top Competitors of MagivBricks are:
99acres
Makaan.com
Housing.com
Commonfloor.com
Homes247.in
Who is the founder of MagicBricks?
Sudhir Pai is the founder of MagicBricks.
What is MagicBricks’ revenue?
Magicbricks Realty Services Limited’s operating revenues range from INR 100 cr to 500 cr in a financial year.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by NestAway.
The home rental has been a pretty rigid segment, particularly in India. Homeowners have qualms about hiring tenants and it’s not a smooth sail for the latter either. Unrealistic advance deposit demands, lack of proper amenities and facilities, and turbulent rental agreement fiasco are just some of the problems that hamper the entire process.
NestAway, a Bengaluru-based startup has identified this crisis and is now setting things right. This is a detailed article about NestAway, how the startup came into being, and how it is operating to simplify the process of finding rented accommodation.
January 19, 2021 – NestAway sold off the society and apartment management platform, ApnaComplex to Anarock Group within a year of its acquisition.
About NestAway
NestAway is a concept. It’s a solution. It’s fixing something that’s grossly wrong. Actually, it’s a concoction of the three. It is a new concept for homeowners, a solution for tenants, and it’s fixing the youth housing crisis in cities.
Founded in 2015, NestAway Technologies Pvt. Ltd. is headquartered in Karnataka. It is an online aggregator of fully furnished and well-maintained rooms and flats for rent. NestAway homes are present across 16 cities in India, including Bangalore, Delhi, Faridabad, Ghaziabad, Noida, Greater Noida, Gurgaon, Hyderabad, Mumbai, Navi Mumbai, Pune, and Thane.
The app helps the users find, book, and move into a rental home of their choice across various Indian cities. One can move in, ask for services from tap leakage to broken door locks, pay rent, and finally move out. The Nestaway app is available for Android and iOS.
NestAway has also forayed into the co-living segment. In 2019, it officially announced the launch of its independent subsidiary, Hello World. Hello World, focuses on co-living and student housing and is present in 15 Indian cities. Hello World claims to have 10,000 beds and 90% occupancy rate. It will be led by NestAway co-founder Jitendra Jagadev.
NestAway was co-founded by Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev in 2015. It was an aggregator of shared and furnished apartments for bachelors in the beginning before adding full homes for families in its catalog.
NestAway Founders
Amarendra Sahu
Amarendra Sahuis the CEO of NestAway. He is a Computer Science engineer from NIT Surathkal and has an MBA from IIM-B. Amarendra has past experience of working at Alcatel-Lucent, Juniper Networks, and Cisco as a Software Engineer and Senior Software Engineer after which he co-founded BrizzTV Media Labs Pvt Ltd. Sahu is now a Co-founder of BrizzTV along with serving as a Co-founder and CEO of NestAway.
Jitendra Jagadev
Jitendra Jagadev is currently known as the Co-founder and Board Member of NestAway and has earlier served as the COO of the startup. Hegraduated from NIT Karnataka and has previously worked with companies like Philips, Cisco, and Ojas Venture Partners, before joining the founding team of NestAway. Jagadev is also the CEO of Helloworld Technologies India Pvt. Ltd.
Smruti Parida
Smruti Parida was the Co-founder of NestAway, and had also served as the CTO of the startup. Smruti is an IT graduate from NIT Karnataka. He was with Microsoft and United Online and worked as the Software Design Engineer and Program Manager 2 and Senior Software Engineer respectively before devoting himself to the company. Smruti quit NestAway on October 23, 2019. Smruti had also co-founded Zero Heights Technologies Pvt Ltd. previously and is currently working as a Founder at AutoSave.
Deepak Dhar
Deepak Dhar is an IT graduate from NIT Karnataka. Being a co-founder, Deepak was responsible for the product and user experience divisions at NestAway before leaving the startup in June 2019. Before joining NestAway, he worked with companies like Aceva Technologies, Fidelity Investments, and Royal Bank of Scotland. He also led Citruspay (acquired by PayU) as a Founding Member and Operations Head. Deepak Dhar quit Nestaway in June 2019 to startup a fintech venture but he will continue to be a director in the company. He co-founded Repute in October 2019.
NestAway owners Amrendra, Smruti, Deepak, and Jitendra are all serial entrepreneurs. Amrendra and Jitendra co-founded Brizztv, Deepak was a part of the founding team of Citrus Payment Solutions, and Smruti founded ‘Sen6’—an art marketplace. NestAway has anywhere between 200-500 employees, according to the latest records.
When Amarendra Sahu came to Bangalore in 2004, he had trouble finding a house to rent. Unmarried individuals are never the first choice of the house owners. Besides, renting in decent localities is not always reasonable.
Amarendra wanted to solve this problem and went about setting up NestAway with the help of friends. In June 2014, his friend Jitendra Jagadev’s house in Whitefield became the site of an experiment.
Amarendra recollects, “We took furnishing from Furlenco, took some pictures of the house, and posted it on Facebook. There were four beds in the 2 BHK – all sold in a day. Out of the seven girls who came to visit, six wanted it and four got it.”
This was the story behind NestAway’s inception which has established itself in a surprisingly short amount of time.
NestAway – Mission and Vision
Nestaway’s core vision is “to provide young people value-for-money spaces with convenient solutions and amenities.” The steering vision was to make living easy and hassle-free.
Nestaway is fueled with a mission to provide homes for everyone, without discrimination. The mission of the company was not just to find homes, but to help the youth set up in a new city without any hassles.
NestAway – Name, Tagline and Logo
With the onset of the new year 2022, NestAway has come up with a new tagline that goes “New Year, New Home.”
NestAway is India’s fastest growing “Home Rental Network” which provides better rental solutions via design and technology. The units are ready-to-walk in homes and with different schemes based on the tenant’s requirement—a bed, a room, or a complete house. From 1 BHK flats to 8 BHK luxury villas with state-of-the-art facilities, the company caters to all kinds of customer needs. Homescome with cot, mattress, sofa, TV, fridge, washing machine, and a furnished kitchen. Besides, fully furnished apartments, semi-furnished and unfurnished apartments are also listed on NestAway.
Some major USPs of NestAway are:
Guided house visits: Tenants are given a guided tour of the house they are interested in.
Rent on time: Ensures timely rent every month.
Zero paperwork: The company does all the paperwork such as agreement creation.
House safety: The company ensures that the house stays in good condition.
House maintenance: It provides on-demand and periodic house repairs. By subscribing to NestAway Assure, house owners can avail the facility of 100% free maintenance, cleaning, and repairing services.
Marketing and promotion: It promotes the properties registered with it through ads and other rental platforms.
Easy move-in and move-out policy: NestAway allows easy move-in and move-out facilities to tenants. Tenants can simply visit the website or use the app and schedule move-in or move-out dates according to their convenience. The move-out policy allows tenants to leave before the license end date. They can shift to the new house by notifying just two days before the planned move-in date.
Zero Deposit: NestAway has tied up with agencies to provide zero deposit offers, whereby tenants can move in by paying the booking amount without any advance deposit.
Pet-friendly: It allows animal lovers to find pet-friendly homes.
Open guest-hosting policy: It allows tenants to host guests responsibly without causing inconvenience to fellow tenants.
The lock-in period is of 6 months. Unless mentioned otherwise in the agreement, the minimum stay is 6 months. However, this may vary in different cities. NestAway does not impose any move-out charges. However, if a person moves out before completion of the lock-in period, he has to pay one month’s rent as move-out charges.
The rent is determined considering the given factors:
Area and location of the house.
Tenancy type, i.e whether a full house, a room, or a bed is taken for rent.
Condition of the house.
Size of the house.
The best part for the homeowners is that the company ensures that the rent is paid before the 5th of every month.
NestAway has a sound business model. It is a one-stop service provider for tenants and house owners where neither has to pay any brokerage fee.
The company serves as a broker and property manager for homeowners by helping find tenants, collect rent, and manage the property over its lifetime in exchange for a percentage share of the rental stream.
Amarendra explains the business model, “You can rent just a room, or the whole house. Our area manager will arrange the visit according to your preference. Once you are satisfied with the house, you can book it online. If you stay in the house for three days and don’t like it for any reason, we refund with full deposit. NestAway’s popularity grew mainly through word-of-mouth, with digital marketing spend in the early days being less than 10 percent of total expenses.”
NestAway runs on a very simple revenue model. It manages a homeowner’s rental property throughout the rental life cycle, from showing the house to a prospective tenant and closing the rental agreement, to collecting rent on the owner’s behalf and assisting the tenant and owner during move-out.
For all these services, the company charges the owners a fixed percentage of 12.5% of the total rent generated from the home as its commission. NestAway does not charge any brokerage or charges from the tenants apart from rent
NestAway Technologies has raised over $109.1 Million in funding from 9 rounds of funding it saw to date. In the latest round, it raised a funding of $4.70 Million from Goldman Sachs on September 17, 2019.
Date
Stage
Funding Amount
Investors
September 17, 2019
Series D
$4.70 Million
Goldman Sachs
May 13, 2019
Series D
$10 Million
Tiger Global Management & Chiratae Ventures
October 17, 2018
Venture
Undisclosed
InnoVen Capital
August 7, 2018
Venture
Undisclosed
Epiq Capital
March 1, 2018
Series D
$51 Million
Goldman Sachs
April 15, 2016
Series C
$30 Million
Tiger Global Management
February 28, 2016
Venture
Undisclosed
Ratan Tata
July 21, 2015
Series B
$12 Million
Flipkart, Tiger Global Management
March 16, 2015
Seed
$1.2 Million
Undisclosed
Flipkart, Tiger Global Management, Ratan Tata, Goldman Sachs, InnoVen Capital, Epiq Capital, Chiratae Ventures are some of the Investors in NestAway. Also, NestAway is in talks with multiple investors including Fosun International and Shunwei capital for $100 Million that it might be seeing ahead.
According to Wikipedia, NestAway registered lower growth in revenue in 2017-2018 as compared to 2016-2017. Its revenue increased by 533% in 2016-2017 whereas, in 2017-2018, it increased by only 28.7%. As per ROC filing, its revenue from operation in FY 2018 is Rs 46.98 crores. Again, the losses increased from Rs 134.24 crore in 2016-2017 to Rs 203.79 crore in 2017-2018.
The company claimed to earn $2 million worth of revenue each month, as of 2019’s reports.
NestAway – Growth/Valuation
NestAway is currently present in over 16 Indian major cities, as of September 2020. It is managing over 60,000 homes across the country. Over 10,600 house owners and 72,400 tenants are registered with it. About 40% of the new bookings now come from the family segment with the ratio being at 65:35 for shared versus family rental houses.
In Bengaluru, where typically rental advances are of 10 months, the company offers homes on two-month deposits. The company claims to earn a monthly revenue of around $2 Million. NestAway gets a commission of 12.5% in each rental agreement.
After a Series D funding of $51 million raised in March 2018, NestAway’s valuation was at about $200 million. It raised two more rounds of funding after that. However, the exact net worth or valuation has not been confirmed by the company.
In 2019, NestAway ventured into the co-living and student housing segment by launching a new brand, ‘Hello World‘. ‘Hello World’ which began in May 2019, currently has a capacity of around 10,000 beds and is operational in 16 cities, including Bengaluru, Hyderabad, Delhi-NCR, Pune, Kota, and Dehradun. The startup boasts 90% occupancy rates. Hello World charges zero brokerage and one-month rent for a security deposit. NestAway has plans to introduce ‘Hello World’ in nine more cities, thus increasing the number of beds to over 50,000.
In the wake of COVID-19, Bengaluru-based home rental startup NestAway has taken a host of measures to support its users and property owners. To start with, the company has reduced the onboarding charges by 50% for anyone who had planned to move into Nestaway’s properties before the lockdown was put in place.
Also, Nestaway is allowing all the frontline workers to stay at its properties with 100% off on onboarding charges. For property-owners, which are tied-up for more than two years, the startup has set up an INR 50 Lakh fund to support them in these hard times.
For migrants struck in Kota, Nestaway has provided free stay and food under the ‘Hello World’ initiative. More than 30 migrants and 30 healthcare staff have lived at Hello World’s properties since the COVID-19 outbreak. One building in Kota has been dedicated to healthcare staff with food and basic facilities. Furthermore, NestAway has also extended canteen services for doctors and guards and hostel managers.
NestAway – Partners
NestAway uses Localitics, a real estate statistical data science platform that not only predicts where rental demand is going to grow, but also where new houses are going to spring up. Today, Localitics is used for evaluating all the cities in India where the company is present and churns out data to help them target the next set of cities.
NestAway has acquired 3 organizations. Their most recent acquisition was StayAbode on Mar 2, 2020. However, it has later sold ApnaComplex, which makes the proptech startup the owner of the 2 other companies, Zanify and StayAbode.
It acquired a smaller rival Zenify (City Synapse Information Pvt. Ltd) for an undisclosed amount in May 2017. This move will help them expand their offerings for families.
In February 2020, the company acquired the apartment management platform ApnaComplex. ApnaComplex is a 10-year-old startup and the platform offers tools to manage various aspects of the residential complexes like organizing public events, raising complaints, society billing/accounting, and much more. The company will now provide home services like cleaning, painting, pest control services, etc. to the registered users of ApnaComplex. However, within a year of its acquisition, the proptech startup decided to let ApnaComplex be acquired by Anarock on January 19, 2021.
Acquiree Name
Acquired Date
Price
StayAbode
March 2, 2020
–
ApnaComplex
February 13, 2020
–
Zanify
May 7, 2017
–
NestAway – Challenges
One of the major challenges for the company was finding the right investors because it was the first business in this arena and some skepticism. Now, it is one of the highest funded Indian startups.
In the initial stage, earning the house owner’s trust and convincing them to register was difficult. To solve this issue, it started offering a ‘rental default guarantee’ that guaranteed NestAway paying the house owner rent in case the tenant did not pay on time.
Some house owners don’t consent to give their house for rent with two months’ rent as deposit money and expect more. However, this scenario has been bettered with the arrival of NestAway where the users need to pay two months’ rent as the tenant and the company pays the difference.
NestAway – Competitors
There are many companies and websites like this that list properties for rent. The Major competitors of NestAway are:
What sets NestAway apart from its rivals is that it provides end-to-end solutions to tenants and house owners by taking care of everything—creating the rent agreement, rent collection, house maintenance, etc. In short, it mediates throughout the rental life cycle.
NestAway – Awards and Achievements
NestAway has been conferred upon a list of awards and recognitions throughout the years. One of the proudest moments for NestAway was when the founders of the company achieved the Comeback Kid Award on August 18, 2017.
NestAway – Future Plans
NestAway is planning to introduce ‘Smart Homes’ by launching the Smart Lock service for all homes. Smart Lock is a safety locking system that ensures security for people staying in their homes, especially for women. This service will be available on their app for both Android and iOS devices. The company is planning to venture into the women’s housing and senior housing sector by 2020.
Another area of focus for NestAway will be student housing. With 10.4 million migrant students and only 6.1 million beds as the current official supply, there is an increase in demand for student housing which continues to increase day by day. Cashing in on this opportunity, it is strongly focusing on student housing and aims to start operations in Kota (Rajasthan) followed by Delhi (North Campus), and Bangalore. NestAway is also looking to expand PAN India and conversations are going on with progressive builders for exclusive properties earmarked for students.
The brand continues to concentrate on the concept of co-living, wherein it takes up the entire building including the shared facilities such as gym, libraries, common areas, game room, and others. Through this concept, NestAway Technologies is trying to create a community for members with common interests to engage in yoga/salsa classes, have talk sessions from seasoned entrepreneurs/sportspersons, entrepreneurial knowledge sharing meets, and collaborate on other exciting avenues.
NestAway – FAQs
Who are the Founders/Owner of NestAway?
NestAway was co-founded by Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev in 2015.
What is NestAway?
NestAway is an online aggregator of fully furnished and well-maintained rooms and flats for rent. NestAway homes are present across 16 cities in India, including Bangalore, Delhi, Faridabad, Ghaziabad, Noida, Greater Noida, Gurgaon, Hyderabad, Mumbai, Navi Mumbai, Pune, and Thane.
Who is the CEO of NestAway?
Nestaway CEO and Co-founder is Amarendra Sahu.
Who are the Top Investors of NestAway?
Flipkart, Tiger Global Management, Ratan Tata, Goldman Sachs, InnoVen Capital, Epiq Capital, Chiratae Ventures are the Investors in NestAway.
How much Funding did NestAway raise till date?
NestAway Technologies has raised over $109.1 Million in funding from 9 rounds. In the latest round, it raised funding of $4.7 Million from Goldman Sachs in September 2019.
If we have to point out some of the worst fights online, the fight between 99acres Vs. MagicBricks will be one of them. The two have been in real estate for years, but their fight has made more headlines than their achievements in the real estate business. The 99acres Vs. MagicBricks conflict surely has a deep impact on the customers. Even I was confused if I want to do something with my property or look for one which one should I choose? 99acres or MagicBricks? Both claim they are the best. But why? Through this article, we have listed out the points from both sides in the 99acres Vs. MagicBricks conflict for you to choose the winner in the end-
Performance of 99acres
Home purchasing feeling improved as open area banks and private players sliced home credit loan costs to a 15-year low. Below the list shows how 99acres have performed this year.
Pre-COVID Times
2020 took the inquiries up by 80% of the pre-COVID times.
Engineers detailed a 50 percent recuperation in the number of exchanges.
The resale portion stayed under tension with bargains shutting at a 2-5 percent limited rate overall.
With an expansion of more than 31,000 units in metro urban communities, new dispatches went up by 4.5 times.
Post the COVID-19 episode, 99acres saw a drop with around 33,000 units in Jul-Sep 2020
2.5 occasions of the deals detailed in Apr-Jun 2020, for example, 9,700 units. Mumbai and Delhi drove other metro urban communities regarding the deal volume and comprised around 29 percent and 22 percent of the absolute exchanges, separately.
The provided property cost estimates stayed unaltered across urban communities. Notwithstanding, with offers, limits, and dealings on the table, exchanges shut at an adjusted cost of around 2-5 percent on a normal.
The most noticeably terrible influenced were Chennai and Delhi NCR, which endured the worst part of a high divergence popular and flexibility.
Bangalore and Hyderabad were the main business sectors that supported costs amid the pandemic and the resultant financial plunge because of the strength of end-clients and a positive interest flexibly condition.
99acres
New dispatches went up by 4.5 occasions with the expansion of around 31,000 units this quarter, as against 5,500 units in the past quarter.
The unsold stock plunged by a small one percent, YoY, and remained at 4.4 lakh units toward the finish of September 2020.
With the business sectors opening up around mid-June, a couple of engineers dispatched new undertakings, while the greater part centered around finishing and selling their continuous tasks. Homebuyers, be that as it may, stayed mindful of under-development tasks to limit the danger in their ventures. Prepared or close prepared units collected most extreme footing.
Performance of MagicBricks
With the Covid-19 pandemic having on a very basic level modified everyday connections for most, India’s land area has needed to zero in on highlights, for example, video walkthroughs and online rental installments, and even cashbacks and prizes to squeeze out development. Since the Covid-19 effect on the area has been grave, land tech new businesses would likewise have to have strong establishments to defeat the emergency.
magicbricks
One such organization is Times Internet-claimed land posting commercial center MagicBricks. As the organization plans for the post-COVID-world, it could cheer up from its to some degree improved monetary execution in the financial year finishing March 31, 2020, or FY20. Below the list shows how MagicBricks have performed this year.
As indicated by MagicBricks’ financials, and verified by Inc42, the organization recorded an income of INR 246.28 Cr in FY20, a 16% expansion from its income of INR 213.24 Cr in FY19.
The organization’s costs became 9%, from INR 221.13 Cr to INR 241.81 Cr.
While a year ago, the organization recorded a deficiency of INR 7.89 Cr. this year, it has figured out how to turn a thin benefit of INR 4.47 Cr.
Furthermore, with the conceded charge recorded down as a resource and added to the EBITDA, the organization has announced a general benefit of INR 49.63 Cr.
The expense of materials devoured, worker benefits cost, account expenses and devaluation, exhaustion and amortization cost saw an expansion.
Costs regarding upkeep, power, travel and other various costs, declined by 9%, from INR 117.92 Cr to INR 107.49 Cr.
Land tech organizations are focusing on highlights to fill the dispersion hole, especially for home viewings and documentation. The filings express that MagicBricks is hoping to add more highlights in its differentiated portfolio and that during FY20, the organization put resources into “land supplies of huge designers across India for capital appreciation.”
It is important that before this month, the Times Internet-possessed organization augmented its bundle of administrations to incorporate a scope of rental arrangements, for example, tenant contracts, inhabitant confirmation, and pay lease, as it broadens its property administrations commercial center.
Administrations for occupant confirmation and tenant contract can be profited at costs beginning INR 499. Inhabitants can likewise utilize MagicBricks’ Pay Rent stage to move leases up to INR 45,000 to their landowners by utilizing Mastercard and procure reward focuses, the organization said in a delivery.
A Brief Overview of Traffic in 99acres Vs. MagicBricks
Monthly visitors: MagicBricks wins
Average Daily visitors: MagicBricks wins
Clicks per visitor: MagicBricks wins
Total Minutes spent on the site by the visitors: 99Acres wins
Unique visitors: 99acres wins
Now several other aspects can be kept in mind like site accessibility, a total number of customers handled, successful and failed projects, etc. to conclude. In a nutshell, we keep it on the readers which one they prefer in their real estate related matters. As of this current month-
MagicBricks successfully has more than 1 Mln dynamic property postings, of which, 58% are available to be purchased and 42% for lease
2.1 lakh selective postings posted uniquely on its foundation by singular landowners from across 700 towns and urban communities.
In this case, MagicBricks wins, but as we already said, it’s up to an individual which one he/she prefers as in the conflict of 99acres Vs. MagicBricks, both have a lot to offer.
According to a survey done by top 10 real estate websites in 2017, 51% of the total home buyers found their home on the internet. In fact, people do depend and trust on real estate websites to make a purchase. So, here are the top 10 real estate websites that you can refer to before buying a property.
You can use these top 10 real estate websites if you are searching for a new real estate website provide. These sites will provide with resources to help potential buyers as well as sellers. Let’s get to know about these websites.
In India, 99Acres is one of the top real estate websites that provides for real estate agents, brokers and customers. It helps the user to find a property in more than 50 cities. With a user-friendly website and a mobile application, this website has won GSF Mobile Appies Award Winner 2015 under the real estate category. It also has become the 2nd largest property portal with an Alexa ranking of 140 in India.
MagicBricks
MagicBricks is not only one of the top 10 real estate websites but also deemed the most preferred property website in India. This has been reported by an independent survey. At present, this website has over 7000 properties for sale. A venture of Times Of India, this website is managed by Bennett, Coleman & Co. Ltd.
MagicBricks
It also features a number of new projects according to the user’s choice. Not only that, but the user can also get information about home loans, legal, taxation, home insurance, and government policies related to private properties.
Housing.com
Housing.com
One of the most verified property listing websites, it currently has over 1 lakh sellers on its website. Founded in 2012 and known to have a commanding presence in Mumbai, Maharashtra. As it supports both Android as well as iOS users, it is capable of catering a vast audience all over the country. It has presented over 40 cities in India with an Alexa ranking of 318.
Sulekha Properties
Sulekha Properties
With an Alexa rank 99, Sulekha Properties comes under the top 10 real estate websites to refer. Its features include regularly upgrading of their database. It also uses a few strategies to ensure smooth communication between brokers and home buyers. Learn about price trends as well as a few best investments projects in your chosen location.
NestAway claims themselves to be ‘India’s fastest-growing managed home network.’ It was founded in January 2015 by four Bengaluru based entrepreneurs Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Parida. They ensure the user a very easy and user-friendly way to find a living environment for everyone seeking for a house.
Quikr Homes
Quikr Homes
One of the top 10 real estate websites that have been a game-changer in the aspect of the realty business. The website offers its user to independently connect with buyers and sellers online. The versatile interface has made Quikr grow really fast. Besides real estate, Quikr also offers service in various other fields as well. An all-rounder, ready to serve with just a click.
CommonFloor
If you are looking to buy or rent a property in top tier cities, then CommonFloor is your option. It has a connection in cities like Bangalore, Mumbai, Pune and New Delhi.
CommonFloor
This one is relatively a new website founded by IITians it has an exclusive feature added. It allows the user to get an experience of the live visit to the properties. This feature is known as CommonFloor Retina, which is blended with a unique virtual reality technology. Selecting a property is much easier which makes it one of the top 10 real estate websites.
IndiaProperty
Another website in the list, IndiaProperty is also known for its unique way to serve the user. It ensures end to end assistance before buying the property. But this is not the end. They provide assistance even after you are done with your buying process.
IndiaProperty
IndiaProperty also enables its user to experience a built-in technology for 3D floor plans and virtual tours. These ensure that the buyers get a personalized feel while visiting their selected properties online.
Started as hotel website, Oyo is really growing its branches and has added its name among the top 10 real estate websites very quickly. It has offered a much versatile service and has updated accommodation for the users.
OyoLife
Currently, OyoLife has a presence around 11 cities in India. It provides the buyers with basic amenities like housekeeping, internet, kitchen, etc that are available in every house they provide.
PropTiger
PropTiger
One of the best home buying websites that allow its user to have the best experience to its clients. It also helps in assisting them with matchless guidance throughout the journey. Their basic services include discovering, buying, renting, selling and financing a home. They operate throughout the country. Although people finding a resident in places like Mumbai, Bangalore or Pune will get a better experience.
These top 10 real estate websites will help you reach up to the best and suitable property you are looking for. It is important to get acquainted with the features that are available in each site. Although all these websites are highly user-friendly, you will still get better options if you know how to browse into the corners to get the best results.
Still don’t have a dream home of your own? Want a rental property? “Oops, this is not in my budget!” Have such issues? Don’t know where to find the best place to stay? Suffering from selling issues? Chill! why do you worry?
Magicbricks is a platform that would help you find the best Real Estate Properties in India. To date, this is the best property site in India. As per the latest reports, 50% of people live in their own houses, 30% stay on rent, and 13% stay in their parents’ house in India. The new generation doesn’t want to tie down themselves with heavy loans. So, few opt for rent as well. Buying and selling both are very easy to do jobs here. Want to know more right? Read the magickbricks success story below
Magicbricks is an online platform for both property buyers and sellers. The company is a division of Times Internet Limited. It’s a wholly-owned subsidiary of Bennett, Coleman & Co. Ltd. It also provides all sorts of source information about all the property related issues. Apart from this, There is a news section called Property Pulse which includes property news, home loans concerns, legal and taxation issues, expert opinion and analysis of the property trends.
Magicbricks – Founder And Team
Sudhir Pai is the founder and the CEO of MagicBricks. Before that, he was the head of the sales department at Times Group. He was also the Corporate Manager at Citibank. He has also served Hindustan Lever Limited and Marico Ltd as the Area Sales Manager.
Sudhir Pai, Founder and CEO at MagicBricks
He started his career from Wipro as the Technical Engineer. He pursued his education from Goa Engineering College. After that, he pursued an MBA in Marketing and Systems. From the Symbiosis Centre For Management and Human Resource Development.
Magicbricks – Business Model
Companies like Magicbricks, 99acre. They have got the same business model.
Their source of revenue includes charges for listing a particular property. This way is better than free listing.
MagicBricks charges the person advertising an amount for a premium listing of the advertisement for particular products.
There are various properties at MagicBricks. For them, they highlight the properties with different colours.
The company provides very good locality information with the actual locality photographs.
“Advertisements” is a very common word. Everybody has come through it once, twice, thrice or more than that. It collects money from the banners as well. Of course, it’s an online portal. It also collects money from the searches made. It provides a hell lot of facilities to its users. Details are already mentioned above. It also provides a feature. It is the luxury section of the website. Personalized services like the Vaastu, Astrology is also involved within it. Hence people need not waste money after these aspects. And the company earns in this way.
Magicbricks – Tagline, Slogan And Logo
The tagline of the company is “Property Sahi Milegi Yahin”. This is the current one.
The logo of the company uses a white background. There is a lettering, ” magic bricks”. It’s written in small letters.
Magicbricks Logo
Magicbricks – Funding And Investors
Property listings website MagicBricks has raised a sum of Rs. 30 crores from its parent company Times Internet Ltd. This fund will be used by the company to brand building initiatives. Product development and seller development activities will take place soon. The company says that it sees itself playing a much greater role of a consumer. With this money, more efforts will be put on the platform. They are also aiming towards having almost 85% of all the available properties to be listed on their site.
Magicbricks – Growth
The company has grabbed many customer’s eyeballs towards it. The Real estate portal MagicBricks has reported 74% growth in the second quarter. The first quarter saw a 48% growth. But the second one is enormous as mentioned above. The mobile app has hit more than five million downloads. It has made itself the one and only in its category to achieve the milestone. The company is experiencing high growth day by day. This was much awaited. As in the last three years, there was a slowdown in the growth process.
The top competitors of the company are 99acres, HOUSING.com, and commonfloor.com
99acres is the top competitor of MagicBricks. Compared to MagicBricks the company generated less revenue. It is $11.3 million for 99acres.
Housing.com is the second competitor of MagicBricks. It is headquartered in Gurgaon, Haryana, India. This company generates 104% the revenue of MagicBricks.
Commonfloor is one of the top competitors of MagicBricks. It is a private company founded in 2007. It is headquartered in Bengaluru, Karnataka, India. Compared to MagicBricks this company has fewer employees.
Magicbricks – Future Plan
The goal of the company is to bring a better workplace for its workers. With a major transformation. The workers occupy the maximum spaces. And the Senior Executives usually get glass cabins. But these things are going to change soon. Productivity would no longer be a mandatory issue. The company will be encouraging creativity a lot. Work styles and the workplace’s flexibility will be the fundamentals of the evolution. More technological things will be inserted into the app as well as the site.
