PropEquity (PROPEQUITY) Q4 22/23 earnings summary

Executive summary

• FY23 consolidated revenue rose 21% YoY to ₹2,905.38 lakh; EBITDA reached ₹1,455.77 lakh and PAT ₹1,060.65 lakh.

• Subscription growth, the expansion of valuation services, and a record 52 new subscription clients supported the year; total subscription clients reached 180.

• The platform covers 44 cities, 1.63 lakh projects and 45,000+ developers, with 16+ years of historical data.

Financial highlights

• Consolidated revenue from operations was ₹2,905.38 lakh vs ₹2,400.89 lakh in FY22; total income was ₹3,230.66 lakh vs ₹2,580.64 lakh.

• Consolidated EBITDA increased to ₹1,455.77 lakh from ₹1,269.61 lakh; PBT was ₹1,421.50 lakh vs ₹1,232.08 lakh.

• Consolidated PAT was ₹1,060.65 lakh vs ₹938.52 lakh; EPS was ₹10.12 vs ₹10.76.

• Website subscription revenue reached ₹1,888.61 lakh vs ₹1,625.65 lakh; professional services revenue was ₹866.08 lakh, compared with nil in FY22.

• Standalone revenue from operations declined to ₹2,039.29 lakh from ₹2,390.62 lakh; standalone EBITDA was ₹1,236.41 lakh vs ₹1,259.89 lakh.

Outlook and guidance

• Plans include entering the B2C segment, launching a YouTube channel, and introducing new products and partner alliances.

• The business aimed to reach a larger share of developers in major metros by March 2024; management expected real estate supply and sales momentum to remain healthy.

• New supply and sales volumes in the real estate sector were expected to stay upbeat over the following two years.