Blox acquires 11 pc stake in property brokerage firm Guardians for USD 12 mn

New Delhi, Nov 12 (PTI) Digital real estate platform Blox has acquired 11 per cent stake in real estate brokerage firm Guardians for USD 12 million.
     The company plans to increase its ownership to 50 per cent over the next three years, it said in a statement.
     "This acquisition solidifies Blox and Guardians as India's largest real estate seller, managing annual sales of approximately 25,000 homes with a consolidated gross transaction value (GTV) of USD 2 billion in the primary residential market," Blox said.
     The company aims to grow its GTV five-fold to USD 10 billion over the next 3-5 years.
     The platform caters to direct-to-consumer (D2C) and business-to-business-to-consumer (B2B2C) models.
     Founded in 2020 by Aditya Jhaveri and Shivani Karia Jhaveri, Blox platform allows homebuyers to purchase properties entirely online.
     Supported by USD 35 million in funding from prominent investors like Kunal Shah (founder of CRED) and Justin Mateen (co-founder of Tinder), Blox combines advanced AI with a broker-led B2B2C approach to deliver a seamless real estate experience.
     Founded in 2016, Guardians has done 174 project launches and sold 23,000 units sold, with a sales value of USD 5.54 billion.
     "Our vision at Blox is to transform the Indian real estate market by creating a seamless, transparent experience that brings value to buyers, brokers, and developers alike," Blox Founder and CEO Aditya Jhaveri said.
     "By integrating Guardians, we're not only enhancing the homebuying process but also establishing India's first platform capable of supporting both D2C and broker-led B2B2C sales. This dual-pathway model is a game-changer for India's real estate sector, offering developers unprecedented reach and flexibility," he added.
     Jayesh Rathod, Director of Guardians, said the partnership with Blox is set to reshape the real estate market in India.
     "By combining Guardians' market expertise and with Blox’s technology, we're setting a new benchmark for transparency, efficiency, and service," Rathod said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)