Digital real estate platform said it has acquired an 11% stake in Guardians for $12 million, and further plans to increase its ownership to 50% over the next three years.
The acquisition solidifies the two companies as India’s largest real estate sellers, managing annual sales of around 25,000 homes with a consolidated gross transaction value (GTV) of $2 billion in the primary residential market, the company said in a statement.
“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,” said Aditya Jhaveri, Founder and CEO, Blox.
The dual-pathway model is set to be a game-changer for India’s real estate sector, offering developers unprecedented reach and flexibility, he added.
“By combining Guardians’ market expertise and with Blox’s technology, we’re setting a new benchmark for transparency, efficiency, and service,” said Jayesh Rathod, Director, Guardians.
Blox also said it would carve out its real estate development and management assets into a separate entity to streamline its operations and support sustained growth.
Projecting an EBITDA profitability of 20-30%, it plans to get investor interest and pave the way for a potential IPO, the company added.
The company said that Blox’s future plans include growing the company’s GTV 5X to $10 billion over the next three-five years.
