Asset manager 360 One buys stake in realty firm Anarock

Asset manager 360 One buys stake in realty firm Anarock

Investment firm 360 One Asset Management has recently acquired a stake of less than 20% in Anarock, a six-year-old real estate consultancy firm based in Mumbai. This strategic investment values Anarock at Rs 1,000 crore. Anarock, founded by Anuj Puri and Rohin Shah, initially focused on residential services but has since diversified into commercial real estate, investment banking, research and valuations, app-based flexible workspaces (acquiring myHQ), and society management agency services (taking over ApnaCity).

The founders, Puri and Shah, retain ownership of over 80% of Anarock. This marks 360 One’s first investment in the real estate consultancy segment, with the $8-billion fund having prior exposure to the broader realty sector through investments such as Neoliv, a residential platform founded by former Godrej Properties MD Mohit Malhotra.

The move comes at a time when the Indian real estate consultancy sector is undergoing formalization, driven by regulatory requirements for transparency and accountability, advancements in technology facilitating digital listings, virtual tours, and online transactions, and the entry of international firms encouraging consultants to enhance their service standards.

Anarock’s founders, Puri and Shah, bring significant industry experience to the table. Before establishing Anarock in 2017, both had worked at Jones Lang LaSalle (JLL), a leading global property consultant. Puri led JLL’s local unit in 2007, while Shah had a long-standing career with the company since 1986. After leaving JLL, they founded Chesterton Meghraj, which later became Trammell Crow Meghraj. In 2007, JLL merged its India business with Trammell Crow Meghraj, appointing Puri as the head, leading to Shah’s exit from the real estate advisory business.

Anarock, currently operating in 19 cities in India with over 2,200 employees, also has a presence in the Middle East. The investment by 360 One is a testament to the growing potential of the real estate sector in the coming years.

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