Propequity has been doing very well business wise, growing both their subscription and valuation vertical very well. Breakup between them can be seen below (CRM is their valuation business).
Longer term financials are below.
I am sharing notes from their recent annual report.
Financials
- Revenue breakup
- No income from future and options (vs 64 lakhs in FY22)
- Other expenses breakup
- Foreign exchange income: 90.5 lakhs
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Capex: 53 lakhs (vs 28 lakhs in FY22). Computers + servers
- Share investment: 6.16 cr. (HPCL, IOC, ITC, ONGC) vs 5.1 cr. in FY22
- Other cash equivalent: 59.64 cr. (vs 62.14 cr. in FY22)
- Net liquid resources: 65.8 cr. (vs 67.24 cr. in FY22)
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Receivables: doubtful of 1.2 cr. (vs 1.48 cr. in FY22)
General points
- 192 months of catalogued month-on-month real estate price data, requiring investment of 90 cr. Invest 6cr.+ annually
- 80% market share in residential B2B market
- 180+ institutional clients in subscription business (added 52 new clients which is highest since their inception). 80% retention
- Employees: 370+
- Standalone remuneration: Average increase in managerial remuneration was 6.75% & average increase in salary of employees other than managerial personnel was 10%
- FY20: Launched commercial leasing data product
- FY21: Launched retail valuation business vertical
- Planning to enter B2C Segment and YouTube Channel
- Banker: ICICI
Propedge:
- Sales: 8.66 cr., PAT: 1.64 cr., shareholding: 80%
- Expanded to 36 cities in 10 cities
- Serving 35 clients (vs 8 in FY22)
IPO utilization
Related party transactions
- Pays rent to Topaz IT Services Pvt Ltd (16.2 lakhs annually) for office space in Gurgaon
- IT related services to Marquest (3.94 lakhs)
Disclosure: Invested (position size here, no transactions in last-30 days)