Anarock acquires apartment management platform ApnaComplex from NestAway

Homegrown property consultant Anarock on Monday said it has acquired society and apartment management platform ApnaComplex from Bengaluru-based NestAway Technologies.

The company did not disclose the deal value.

ApnaComplex platform is being used by over 22,000 apartment societies in over 80 cities across India. NestAway Technologies is a leading rental housing operator funded by Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital.

Anarock group said in a statement that it has acquired 100 per cent stake in ApnaComplex.

"From buying and selling homes to managing and maintaining them, real estate digitalisation is now a root concept.

"ApnaComplex is a pioneer in providing housing societies and households with a reliable and trustworthy tech platform for managing their properties. We are clear that the business will run independently and with a distinctive culture that the technology world demands," Anarock Chairman Anuj Puri said.

The company is ready to invest aggressively in this platform to bring in the required product features and to hire key talent.

"Our acquisition rationale is to extend innovative features and tech upgrades for homeowners, residents, society managing committees, as well as facility and security management teams," Puri said.

The advanced tech stack is hosted in the cloud, availed through an intuitive front-end mobile app/web portal and completely automates the day-to-day operations of societies, gated communities and apartment complexes.

It is a mini-ERP and security solution with major modules for billing & accounting, security and gate management, community engagement, resident services and facility management, combining to render a unique experience for residents.

Anarock clocked 36 per cent growth in its revenue at Rs 256 crore in the last fiscal despite demand slowdown in the Indian real estate market.

It provides various services, including residential broking and technology, retail (in partnership with Vindico), commercial, investment banking, hospitality (via HVS Anarock), land services, industrial and logistics, investment management, research, strategic advisory and valuations and project management services (in partnership with Mace).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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