{"id":42822,"date":"2022-05-16T15:15:00","date_gmt":"2022-05-16T09:45:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=42822"},"modified":"2022-05-16T15:12:57","modified_gmt":"2022-05-16T09:42:57","slug":"biz-reloy-revenue","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-reloy-revenue\/","title":{"rendered":"HDFC-backed proptech startup Reloy aims 3-fold jump in revenue to Rs 13 cr in FY23"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2494440146\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>HDFC-backed proptech firm Reloy is targeting a three-fold jump in its revenue to Rs 13 crore this fiscal, helped by expansion to new cities and the addition of more real estate clients.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1236928182\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Founded by Akhil Sharaf in 2018, Reloy, erstwhile Loyalie IT Solutions, has been working closely with top builders to create the perfect home-owning journey through their customer loyalty programmes.<\/p>\n<p>In May, HDFC acquired a 7.2 per cent stake in Loyalie IT Solutions Pvt Ltd (now Reloy) for Rs 1.1 crore.<\/p>\n<p>Reloy had in January raised Rs 5 crore from investors, including Inflection Point Ventures, to expand and grow its business.<\/p><div class=\"trade-content_5\" id=\"trade-2167926186\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;Our overall turnover in the last fiscal year more than doubled to Rs 4.3 crore as against Rs 2 crore in the preceding year despite the Covid pandemic,&#8221; Reloy founder and CEO Akhil Sharaf told PTI.<\/p>\n<p>With the help of recent fundraising, he said, the company will expand its presence in more cities and strengthen its technological capabilities.<\/p>\n<p>&#8220;With this fundraise, we are on track to grow three times this fiscal year to about Rs 13 crore of revenue,&#8221; he said.<\/p>\n<p>Saraf said the company has been reinvesting its sales revenue to expand exponentially.<\/p>\n<p>&#8220;We can choose to be profitable at our current scale, but the future of housing we dream of at Reloy requires a significant amount of reinvestment. So, we&#8217;re going to disproportionately reinvest to get there faster,&#8221; Saraf observed.<\/p>\n<p>In May, Housing Development Finance Corporation&#8217;s (HDFC) subsidiary HDFC Capital Advisors Ltd (HCAL) entered into a share subscription agreement to acquire 3,90,666 equity shares of Loyalie (now Reloy).<\/p><div class=\"trade-content-10\" id=\"trade-736641135\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The startup is engaged in the business of offering marketing schemes, loyalty\/reward bonuses proposed by its clients and providing real estate brokerage services as per its clients&#8217; requirements.<\/p>\n<p>The startup has a presence in more than 10 cities.<\/p>\n<p>&#8220;Housing as a product hasn&#8217;t evolved in the last decade. Our current volumes in the top 7 cities are still 30 per cent below 2013\/14 levels whereas India&#8217;s GDP has expanded by 55 per cent,&#8221; Saraf said.<\/p>\n<p>Post-Covid, he said, there is a resurgence in demand for the &#8216;hard assets&#8217; like housing.<\/p>\n<p>&#8220;Customers are clear \u2013 they want larger spaces, with more amenities and more conveniences.&#8221; The company&#8217;s aim is to use technology to connect homes to personal finance and a consumer&#8217;s lifestyle, Saraf said.<\/p>\n<p>&#8220;We are funded by HDFC Capital on one side and 50+ strategic angels who are founders and operators of some of the largest enterprises in the country,&#8221; he added.<\/p>\n<p>The fundamental premise of referral sales is that only happy customers refer, he noted.<\/p>\n<p>&#8220;So, we do everything in our power to make customers happier and feel more at home,&#8221; Saraf said.<\/p>\n<p>Reloy is primarily into managing the customer loyalty programme for several real estate brands like Godrej properties, Mahindra Lifespaces, Century Real estate, Piramal Realty, Gera developers etc via its ConnectRE app.<\/p>\n<p>Apart from this, Reloy also manages the Channel partner programmes through its platform WinnRE for several developers like L&amp;T Realty, Brigade group, Mahindra Lifespaces, Rohan builders etc.<\/p>\n<p>The ConnectRE Platform helps builders manage their customers easily from the time of booking an apartment right till possession. PTI MJH BAL BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-993216521\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>HDFC-backed proptech firm Reloy is targeting a three-fold jump in its revenue to Rs 13 crore this fiscal, helped by expansion to new cities and the addition of more real estate clients. Founded by Akhil Sharaf in 2018, Reloy, erstwhile Loyalie IT Solutions, has been working closely with top builders to create the perfect home-owning [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":40898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-42822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HDFC-backed proptech startup Reloy aims 3-fold jump in revenue to Rs 13 cr in FY23 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-reloy-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HDFC-backed proptech startup Reloy aims 3-fold jump in revenue to Rs 13 cr in FY23\" \/>\n<meta property=\"og:description\" content=\"HDFC-backed proptech firm Reloy is targeting a three-fold jump in its revenue to Rs 13 crore this fiscal, helped by expansion to new cities and the addition of more real estate clients. 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