Dhruv Agarwala resigns as CEO of REA India that owns Housing.com, PropTiger

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.

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.

REA Group CEO Owen Wilson noted that Agarwala's leadership has been a key driver of REA India's growth.

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.

REA India posted a 46 per cent growth in its revenue to 64 million Australian dollar (Rs 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 Rs 563 crore in 2023-24 fiscal (July-June), from Rs 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.