Dhruv Agarwala resigns as CEO of REA India that owns Housing.com
REA India, which is part of Australia's publicly listed firm REA, is a full-stack real estate technology firm and owns classified advertisement platforms.
Dhruv Agarwala, the CEO of REA India, that owns real estate classified platform Housing.com, has resigned from the company to pursue his own entrepreneurial journey.
In 2011, Agarwala co-founded proptech firm Elara Technologies which owned PropTiger, one of the leading housing brokerage firms in the country. Later in 2017, he acquired Housing.com from Softbank and others.
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Australia's REA Group acquired Elara Technologies in 2020 and took control of Housing.com and PropTiger.
In a statement on Thursday, Australia's REA Group announced that Agarwala has decided to step down as CEO of REA India after 14 years with the business.
"Agarwala will remain with the business to support the appointment of his successor and ensure a smooth leadership transition before departing. A comprehensive process to appoint a new CEO is underway," it added.
REA Group CEO Owen Wilson noted that Agarwala's leadership has been a key driver of REA India's growth.
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"Dhruv is an exceptional entrepreneur and has harnessed the rapid expansion of digital real estate in India to build a high growth business. He has created a culture of innovation and developed a talented team who have delivered a market-leading audience and significant revenue growth in a highly competitive market. He leaves behind a considerable legacy that will have a lasting impact," Wilson said.
Commenting on his decision to step down, Agarwala said it has been a privilege leading REA India.
"From founding PropTiger in 2011 to growing Housing.com into India's foremost digital real estate platform, it has been an amazing journey. Now feels like the right time for me to step away and create space for new leadership to take the company forward," he said.
Agarwala said REA India is in great shape – with a clear strategy, a strong team, and a powerful brand that's changing the way people experience property in India.
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REA India posted a 46 per cent growth in its revenue to 64 million Australian dollar ( ₹357 crore) in the first half of 2024-25 fiscal year ending June, helping it to reduce losses.
The company's revenue grew 31 per cent to ₹563 crore in 2023-24 fiscal (July-June), from ₹430 crore in the preceding year.
REA India, which is part of Australia's publicly listed firm REA, is a full-stack real estate technology firm and owns two online classified advertisement platforms Housing.com and Makaan.com as well as housing brokerage platform PropTiger.
