The success story of PropTiger

PropTiger is an online real estate portal founded in the year 2011 by Dhruv Agarwala, Prashan Agarwal, and Kartik Varma. Before PropTiger, Kartik and Dhruv cofounded iTrust Financial Advisors and later sold it to the Karvy Group. After that, Dhruv joined GE’s Infrastructure business in India as the Chief Executive Officer, and Kartik joined Ziff Brothers Investments. Later, they joined hands with an IIT and ISB graduate – Prashan Agarwal, who had started an internet real estate brokerage business named ‘Allcheckdeals.’

As they all were not new to the business, so the previous experiences helped them to set up operations quickly this time. They started with opening sales offices in different cities across India where there was an abundant supply of newly constructed houses, and there they used their hybrid offline and online model to help the clients.

Soon, investors are starting noticing this new company in the market, and this way, PropTiger got its first funding of 5 Million USD from SAIF Partners and Accel Partners. In the year 2015, an online real estate marketplace – and a user interface design firm named Out of Box Interaction was acquired by PropTiger.

Currently, PropTiger has an employee base of more than 450 people spread across all its offices in 8 cities in India, working under different sections like sales, technology, marketing, customer service, and operations.

Presently, PropTiger has a client base of nearly 500 clients, who use their services every month and the company’s estimated crossed a GMV as of the year 2018 was Rs.2, 500 crores. The core business of PropTiger is profitable, and prospects seem to be stronger and better.

The company uses the following three metrics to keep track of the monthly performance to improve their efficiency and profitability:

  • Cost of lead generation
  • Conversion cost
  • The productivity of a single sales representative

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