The Naspers-owned horizontal has witnessed monumental growth and recognizes real estate as its primary sector going forward. Revenue from the company’s real estate business doubled last year, according to its latest financial report. Premium developers have also doubled their spend over the last year.
VP of OLX India’s real estate category Sunny Kataria (LinkedIn profile) said the company hopes to transform the way real estate is traded online. “We will scale our presence across residential and commercial properties listed on OLX in 2019,” he added.
The company posted an impressive 94 percent surge in year-over-year profits for FY2018. The auto vertical is its primary revenue driver. It recently adopted a c-to-b business model and ventured into offline operations — in partnership with Frontier Car Group — in a bid to further solidify its dominance in the Indian used car market.
OLX has also strengthened its recruitment vertical with the acquisition of Mumbai-based jobs marketplace AasaanJobs in January.