The move will help Square Yards earn an additional revenue apart from its brokerage income from sale of properties and facilitating home loans. (Representative Image)
New Delhi: Property brokerage firm Square Yards, backed by Anil Ambani led Reliance group, Wednesday said the company will license its tech solution to real estate developers for managing their sales and marketing activities.
The move will help Square Yards earn an additional revenue apart from its brokerage income from sale of properties and facilitating home loans.
The enterprise technology solution 'Edge', enabled with artificial intelligence, will empower the sales and distribution functions of real estate developers and large property brokers in India and selected international markets, the Gurgaon-based firm said.
"Licensing our battlefield tested tech to enterprises provides us with an opportunity to gain a strong foothold within our principals' ecosystem. The goal is to equip them with best in class technology, help improve their sales velocity and make them more productive and efficient," Square Yards founder and CEO Tanuj Shori said.
He said the company's technology is already being implemented at some of the real estate organisations. "We foresee at least 100 such implementations by the end of this financial year," Shori added.
The full stack solution gives enterprises access to Square Yards' proprietary tools and automated workflows for their sales, marketing, transactions, mortgage and post sales service functions.
Square Yards reported 38 per cent growth in its 2018-19 revenue at Rs 220 crore on higher sales as well as fee income.