The Future of Commercial Real Estate Investing
- Founded by BITS Pilani graduates, PropReturns uses AI and a user-friendly platform for buying, selling, and renting commercial properties in India.
- PropReturns provides over 3,000 listings and market insights.
- Launched in 2021, PropReturns has facilitated transactions worth more than Rs 100 crore and secured funding from prominent investors.
PropReturns offers a transparent and data-driven strategy for buying, selling, and renting commercial properties in India. Founded in 2021 by BITS Pilani graduates Somil Mathur, Jayant Panwar, and Kenish Shah, PropReturns aims to be India's largest commercial real estate ecosystem.
One of the sectors that experienced a decline in 2020 was the real estate market. Somil observed this and saw an opportunity to pull investors into real estate.
“We, as a team, are very passionate about real estate. It still seems to be the most sought-after asset class in India. Whenever anyone amasses some chunk of money, they think about buying a property,” says Somil.
Using AI to simplify commercial real estate investing
The commercial real estate market in India is fractured and lacks transparency. PropReturns uses AI-based algorithms and a proprietary database to provide over 3,000 listings through an accessible platform.
The platform's “CADET” values ensure a user-friendly experience:
Customer First, Accessibility, Data Driven, Empower, and Transparency.
PropReturns provides users with market insights allowing them to make better, informed decisions based on current market trends rather than assumptions or intuition.
The platform caters to investors seeking passive income and businesses looking for commercial space to rent. Developers and landlords can list properties for free and reach potential buyers and tenants.
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PropReturns' Early Users and Transactions
PropReturns launched in April 2021. By September 2021, the platform had over 2,000 users and had facilitated 15-20 transactions.
In December 2021, PropReturns received investments of $1.2 million from Y Combinator, Goodwater Capital, and Soma Capital.
Funding from Prominent Investors
In July 2022, PropReturns received an undisclosed amount of funding from prominent figures including Kunal Shah of CRED, Gokul Rajaram of Coinbase, and Karan Virwani, CEO of WeWork India. Other investors also participated in the round.
The funds acquired would help PropReturns add more asset classes, increase its investor base, and strengthen partnerships with real estate brokers, developers, and property owners.
“In just one year of operation, PropReturns has conducted transactions worth more than Rs 100 crore through the platform. Our execution and vision for PropReturns has helped us onboard leading angel investors, founders, and real estate veterans in this strategic round, all of whom align with our business,” Jayant Panwar, cofounder of PropReturns, said.
Expansion Plans Beyond Mumbai and Delhi-NCR
PropReturns plans to establish a presence in Pune, Hyderabad, and Bengaluru, expanding beyond Mumbai and Delhi-NCR.
PropReturns has conducted transactions worth more than Rs 100 crore through its platform and secured funding from prominent investors.
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