Justo Realfintech portfolio: Justo Realfintech aims to grow portfolio nearly 3x in 2 years

Justo Realfintech aims to grow portfolio nearly 3x in 2 years

SECTIONSJusto Realfintech aims to grow portfolio nearly 3x in 2 yearsBy Kailash Babar, ET BureauLast Updated: Feb 03, 2024, 02:30:00 PM ISTRate StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsis

Justo Realfintech plans to expand its sales portfolio to 8.5 million sq ft over the next two years, focusing on new markets like Hyderabad, Bengaluru, Andhra Pradesh, Karnataka, and Tamil Nadu. The expansion will also include key eastern Indian cities and international forays, starting with the Dubai property market. The company's current portfolio spans over 3 million sq ft and has sold over 8,500 apartments with 4.5 million sq ft of residential space across 80 projects.

Real estate services company Justo Realfintech is looking to grow its sales portfolio nearly three times to 8.5 million sq ft over the next two years led by foray into new markets including Hyderabad, Bengaluru, tier II cities of Andhra Pradesh, Karnataka, and Tamil Nadu.

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Along with this, the expansion plan will also include a few key cities of eastern India and international foray starting with the Dubai property market.

“Our expansion into new metro markets and tier II locations is based on internal evaluation of untapped growth potentials in these locations. As a standard process, we collaborate with developers and take responsibility for accentuating their growth by helping them in functions of sales & marketing strategy execution, CRM and regulatory matters and in handling the customer journey,” said Pushpamitra Das, Founder & Director, Justo Realfintech.

Currently, the company’s portfolio is spread over 3 million sq ft with presence in property markets of Mumbai, Pune, rest of Maharashtra and Orissa. The gross market value (GMV) of its current portfolio is Rs 3,500 crore and the company is looking to grow this to Rs 12,000 crore.

Started in 2019, Justo has sold over 8,500 apartments with 4.5 million sq ft of residential space across 80 projects. The value of this sold inventory is over Rs 8,000 crore.

The company has inventory of Rs 3,000 crore under execution and pipeline of Rs 12,000 crore. It is aiming to grow annual revenue to over Rs 180 crore in 2025-26 from current Rs 80 crore, Das said.

Out of total Rs 12,000 crore, the company expects GMV of its portfolio from existing markets to be around Rs 7,000 crore in the next two years and new markets of Dubai and Karnataka including Bengaluru to add GMV of Rs 4,000 crore.

Justo currently sells around 350-400 apartments per month and expects to grow the business to sell 1,000 units per month in the next two years.

The company was recently acquired by artificial intelligence-powered proptech company Blox. Das expects the partnership to help in combining resources, add new project mandates, technology implementation and channel partner management, among other synergetic factors.

“The demand for residential properties is currently soaring in the top seven markets with Mumbai and Pune alone contributing to nearly 50% of the demand. Mumbai is currently in the lead, boasting the highest number of redevelopment projects, while the Thane-Kalyan-Ambernath belt and Pune markets are experiencing a surge in demand,” Das said.

According to him, the robust economy and swift infrastructure development like Atal Setu (MTHL) and the proposed coastal road of Mumbai will significantly contribute to the widening gap between real estate demand and the supply of new locations. Given the present scenario, he anticipates a sustained and robust growth momentum in the upcoming financial year.



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