Top Story

e4m_logo.png

Home >> Digital >> Article

MagicBricks posts strong 30% YOY growth in Q4 revenues

12-June-2017
Font Size   16
MagicBricks posts strong 30% YOY growth in Q4 revenues

MagicBricks, on Monday, announced strong Q4 performance the first full quarter after demonetization, posting an impressive growth of 30% on Rs 36 crore Q4 revenue. The company also reported FY’17 revenues of Rs 132.6 crore. The company stated that these figures are online revenues from operations and excludes any group company revenues. 

“While there has been short term pressure on the pace of growth post demonetisation, we saw search queries recovering strongly in the January-March’17 quarter, indicating consumer sentiment revival. We beat the slowdown through a series of initiatives across product innovation, traffic growth, channel initiatives and partnership alliances,” said Sudhir Pai, CEO of MagicBricks.

In the new fiscal year, the company plans to grow by launching a series of new business lines around commercial real estate, luxury, rental and NRI segments as well as by integrating products such as home loans, experience centres and assisted selling services on its platform. Basis the FY’17 revenue figures, the company believes that it is now 20% bigger than its closest competitor on revenues.

As per comScore data, MagicBricks had 43% traffic market share by unique visitors in the January-March’17 period. In this period, MagicBricks had 74% more unique visitors than the No 2 player.

Tags

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

The Managing Editor of Public TV gives insights about the struggle the Kannada news channel endured during its nascent stage and what led them forward to the second position that they occupy right now in what is a rather crowded marketplace

The unveiling of the Pitch Madison Advertising Report 2018 event was held on February 15, 2018. Over the years, the report has become a benchmark in the industry. Here are some pictures from the event...

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing...

Jake Dyson, Chief Engineer and Member of the Dyson board, spoke about the innovations and technology that they plan to bring to India