Want to tap into India’s commercial real estate market? This startup stacks the odds in your favor

The Indian real estate market is expected to reach US$180 billion by 2020, up from US$121 billion in 2013, and increase seven-fold to hit US$853 billion by 2028. The commercial real estate (CRE) sector is a major contributor to this growth.  According to the Department of Industrial Policy and Promotion (DIPP), the construction development sector in India has received foreign direct investment (FDI) equity inflows amounting to US$24 billion between April 2000 and December 2014.

In order to tap this growth, you need the right set of tools, along with the right dataset. Mumbai-based startup called Propstack can help you with both.

Founded in 2013 by Raja Seetharaman, Shubhankar Dongre, and Sandeep Reddy, Propstack claims to be a key source of commercial real estate intelligence to corporates, banks, developers, HNIs, and brokers. It provides extensive market research data on India’s commercial real estate sector to its clients. The startup operates on a SaaS model and is equipped with analytical tools for trend-spotting and enhanced market knowledge. Using Propstack’s analytics software, users can compare their properties, spot trends in a market, or submarket. It also helps users spot rental trends.

Propstack recently raised US$3 million from DMG Information, the investment subsidiary of British media conglomerate Daily Mail & General Trust, along with New York-based data and analytics company Real Capital Analytics.

Dongre tells Tech in Asia that the money will be used for expansion and hiring purposes. It’s planning to enter seven new cities across India. The company is also launching a new listings and marketing platform for all real estate stakeholders.

“[Propstack] has created a disruptive product and a business model that can change the way commercial real estate information is consumed and used to make actionable decisions. The team is solid and comes from relevant real estate and technology experience. The CRE information space is wide open for a player like Propstack to take early first mover advantage,” Tej Kapoor, country head for DMG India, tells Tech in Asia.

“We bring not only cash but also knowledge of running similar businessis in other countries like the US; Xceligent and RCA are examples. We will guide Propstack as it grows,” he adds.

DMG Informations intends to invest in three to four more ventures in India in this financial year. It looks to invest in data and technology businesses in five key areas – real estate, energy, healthcare, education, and agriculture information businesses.

Gurgaon-based PropEquity is one of Propstack’s main competitors in India. PropEquity is an online subscription-based real estate data and analytics platform. Propstack however believes that it’s different from others and claims to be the only tech company to focus exclusively on the commercial real estate sector.