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99acres.com expects to see its revenue grow by 200% in 2008

Info Edge India’s real estate portal 99acres.com expects to grow this year by 200 per cent in terms of revenue. “We have not yet broken even, and should do so by Q4 2008. We expect phenomenal growth because people are getting online and we expect the market to evolve,” Hitesh Oberoi, COO and director, Info Edge, has told Indian Express in an interview. An excerpt:

What is the size of the online property market currently?

Info Edge India’s real estate portal 99acres.com expects to grow this year by 200 per cent in terms of revenue. “We have not yet broken even, and should do so by Q4 2008. We expect phenomenal growth because people are getting online and we expect the market to evolve,” Hitesh Oberoi, COO and director, Info Edge, has told Indian Express in an interview. An excerpt:

What is the size of the online property market currently?

Online portal business, excluding property fairs, would not be more than Rs 25 crore. This is the business of the big 4-5 players. The market size should double or triple every year. The top two players have captured most of the market. That would be us and MagicBricks.com.

What are the revenue sources for 99acres?

About 50 per cent of the revenue is from listings and 50 per cent from display ads. About 45,000 listings out of 1 lakh are paid. We also provide leads to brokers, for a charge. They can get from us email and phone numbers of people looking for a particular type of property. And we don’t sell one lead to more than a couple of people.

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