Note: profit swings with gains/losses on investee stakes (e.g. Eternal/Zomato, PB Fintech) - FY22 includes a large Zomato-listing gain; 99acres (real estate) is a small part of revenue; Exposure here is 99acres only
Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Generates leads and closes sales for developers (typically 2-4% brokerage on new launches), lists resale and rental homes, and sells research and data to developers and investors.
Why it matters
Developers sell most new launches through brokers and online leads, so these firms see demand first - before it shows up in pre-sales.
Where the value pool sits
Portals with large traffic earn listing and lead fees at high incremental margins once scale is reached; brokerages are labour-heavy with thin margins and earn more in strong launch years.
Key drivers
New launch volumes
Shift of home search to online
Rental market growth in large cities
Potential bottlenecks
Fragmented, unorganised broker market
Developers increasingly sell through in-house teams and their own digital channels
Lead quality and fake-listing problems on portals
Investor metrics to watch
Portal traffic, paying listings and billings growth