In a fast-paced world, finding a home or property can be challenging. However, 99acres.com, India’s No.1 Property Portal, has revolutionised the process. With its user-friendly interface, extensive database, and valuable property insights, 99acres.com simplifies property searches and connects buyers and sellers seamlessly. It saves time, offers convenience, and helps individuals find their dream homes effortlessly.
Highlights Of 99Acres
| Startup Name | 99acres |
| Headquarters | Noida, Uttar Pradesh, India |
| Sector | Real Estate |
| Founder | Sanjeev Bikhchandani |
| Founded | 2005 |
| Parent Organization | Info Edge |
| Website | 99acres.com |
About The Company – 99Acres
Founded in 2005 by Sanjeev Bhikhchandani, a renowned entrepreneur and recipient of the Padma Shri award, 99acres.com has emerged as a premier real estate search portal in India. It offers comprehensive assistance in buying, selling, and renting residential and commercial properties and facilitates the search for upcoming real estate projects, PGs, co-working spaces, and co-living spaces. With 99acres.com, users can also quickly locate dealers in specific areas, making it a versatile platform for all real estate needs.
99acres.com – Founder
Sanjeev Bikhchandani
Sanjeev Bikhchandani is a highly respected figure in the Indian business community. Born in 1964 in Delhi, he pursued an Economics degree and is an alumnus of IIM Ahmedabad. With a passion for entrepreneurship from a young age, Bikhchandani ventured into various small businesses before conceptualising and launching Naukri.com, India’s pioneering job search portal. Starting with just Rs 2000 and operating out of a small servant quarter above a garage, Bikhchandani transformed Naukri.com into the first dot-com company listed on the Indian stock exchange. Alongside Naukri.com and 99acres.com, he founded other successful websites such as Shiksha.com, Naukrigulf.com, and Jeevansathi.com. In recognition of his remarkable contributions to the Indian economy and business, Bikhchandani was honoured with the prestigious Padmashri award in 2020, among other accolades.
99acres – Business Model & Revenue Model
The business model of 99acres.com is straightforward yet effective. It serves as a platform that connects real estate buyers, sellers, house owners, and tenants. Sellers, house owners, and property dealers can list their properties on the website, upload pictures, and connect with interested buyers and tenants. While a certain number of listings are free, users must pay for additional listings once the limit is reached.
99acres.com generates revenue through various channels, including property listing charges, subscription fees, charges for marketing real estate properties and new projects on the platform, advertising fees, and for promoting and featuring builders and dealers on the website. These revenue streams contribute to the sustainability and growth of the platform while providing valuable services to both property seekers and sellers.
99acres – Growth
99acres.com has played a significant role in the growth of its parent company, Info Edge. In the second quarter of 2019, Info Edge’s revenue experienced a notable increase from ₹265 crores in the same period of the previous year to ₹316.6 crores. This growth was supported by 99acres.com, which witnessed a 20% increase in revenue and billing during the same quarter. However, the real estate market slowdown and the COVID-19-induced lockdown had an adverse impact on 99acres.com.
In the fourth quarter of FY 2020, billings declined by 24% YoY to INR 50.7 Cr, while revenue increased by 3.6% YoY to INR 56.4 Cr. Annually, billing and revenue for FY 2020 increased by 3.5% and 18.8%, respectively. Despite the challenges, traffic to 99acres.com is gradually recovering after experiencing a decline during the lockdown period.
FAQs
Who is the owner of 99acres?
The founder and owner of 99acres.com is Sanjeev Bikhchandani.
Is 99acres Free?
A limited number of listings is free in 99acres. 99acres is entirely free for property searchers.
Is 99acres Profitable?
Regarding profitability, in Q1 of FY 2020, 99acres.com reported a loss before tax of Rs 3.4 Crore. In comparison, in Q1 of FY 2019, the platform recorded a loss before tax of Rs 12.86 Crore.
