PropertyGuru Group (PropertyGuru) has announced its results for the financial year ending Dec 31 2019. Delivering a 24 percent year-on-year growth, the Group has beaten its prospectus forecasts.
The Group has also recorded a strong top line growth with Group revenue of S$88.4 million and 64 percent increase y-o-y in EBITDA to S$8.6 million. The Group is operating a free cash flow of S$ 14.2 million.
“I am delighted to report these results for the Group. 2019 was our fourth straight year of strong business performance. As anticipated, we have seen strong top line growth across all our key markets and delivered further improved EBITDA and operating cashflow. Our unit economics look solid, execution was robust, and our strategy for the future is ambitious,” said chief executive officer and managing director of PropertyGuru, Hari V. Krishnan.
The Group over the last year had launched a mortgage marketplace in Singapore, a platform refresh in Vietnam as well as end-to-end sales enablement solution for property developers as part of its growth strategy.
In a press statement, the Group states that the platform remains the top online real estate marketplace in with 59 percent market share. While in Singapore, the Group leads with 75 percent market share and in Vietnam with 69 percent market share.
The Group had also developed a cloud solution, PropertyGuru FastKey, a digital feature designed to automate and streamline the entire property sales process from launch to close of sale. It currently serves over 500 developer projects in the region.
“As a data and technology driven Group, we continue to invest heavily in our platform to provide market leading features and functionality. Over the past three years, we’ve invested more than 170,000 development hours via our dedicated R&D staff.,” Hari said.
PropertyGuru’s mobile platform has also garnered over 5.7 million downloads, with 74 percent of their customers now accessing their platform from a mobile device.