NoBroker fair market valuation at $275 mn

Bengaluru-based NoBroker Technology Solutions’ fair market valuation stands at around $275 million as on July 31, 2019. The company owns and operates property classifieds platform NoBroker. 

As per a valuation report from the company in a regulatory filing, the company’s fair market valuation of equity shares is at Rs 55,302.71 a share. The valuation, accessed by an independent valuer, is derived from projected income for the next six years and eight months till October 2026. 

As per NoBroker’s estimates, the company is expected to post a net loss of Rs 54 crore for the period between August and March 2020, and Rs 50.8 crore for the financial year 2020-21. It also has an expected capital expenditure requirement of Rs 95 lakh and Rs 1.75 crore for 2020 and 2021, respectively.  

The company expects to consistently post profits from FY22.

The valuation report is part of the $51 million raised by the company in a Series C round led by General Atlantic, a company spokesperson told TechCircle.

NoBroker has till date raised a total of $222 million. In October 2019, it got $50 million in a Series D round led by US-based venture capital firm Tiger Global Management along with returning investor General Atlantic.

NoBroker has till date raised a total of $222 million. In October 2019, it got $50 million in a Series D round led by US-based venture capital firm Tiger Global Management along with returning investor General Atlantic. Four months before that, it raised $51 million in a Series C round led by General Atlantic.

Founded in 2013 by IIT alumni Amit Kumar Agarwal, Akhil Gupta and Saurabh Garg, NoBroker provides solutions for real estate transactions, including rental, sale or purchase of properties. It was one of the first few startups to connect landlords and tenants, without a broker. The platform also provides allied services like loans, packers and movers, legal documentation and online rent payment.  

Agarwal was earlier an analyst at Cognizant Technologies, principal consultant at PricewaterhouseCoopers (PwC) and associate director at Australia New Zealand Bank. Gupta was an application engineer at Oracle. Garg co-founded Four Fountains De-Stress Spa, a chain of scientific health spas, and has also worked with the Hindustan Unilever and myDaily Meal.

As per the latest data provided by NoBroker, it hosts over 30 lakh properties on the platform and over 70 lakh individuals have used its services. The company started operations in Hyderabad in August last year and also operates in Mumbai, Bengaluru, Pune, Chennai, Hyderabad and Gurugram.

Earlier this week, NoBroker acquired society management firm Society Connect in an all-cash deal. The latter provides solutions to 500 residential projects such as DLF, Omaxe, Unitech and Belmonte.

NoBroker competes with well-funded firms such as CommonFloor, QuikrHomes, MagicBricks, 99acres and PropTiger. News Corp, the main investor in the company that operates PropTiger, also owns the parent of TechCircle.