PropTiger.com Co-Founder Prashan Agarwal Exits

New Delhi, May 30, 2015: Rupert Murdoch-backed website PropTiger.com on Friday said its co-founder Prashan Agarwal has exited the company after over four years of association to pursue other entrepreneurial opportunities.

The Noida-based firm has also announced other leadership changes to build on its recent growth and expansion.

It has appointed Sunil Mishra as chief business officer, while Rohit Hasteer and Neeraj Chaturvedi have joined the firm as chief human resources officer and chief marketing officer, respectively.

“As we embark upon our next phase of growth, we need to have a strongly defined alignment of roles and responsibilities that will help drive speed and intensity of execution,” PropTiger.com co-founder and CEO Dhruv Agarwala said.

Asked if Prashan Agarwal has sold his stake in the firm, Mr Agarwala declined to comment, saying, “It is a private matter and I am not at liberty to share the information”.

PropTiger.com has mandated Mr Mishra, who will be based in Mumbai, to lead the company’s new homes business including business development, sales and collections.

He was previously the CEO of Karvy Private Wealth and has been associated with Bharti Airtel, Reliance Communications, WorldTel and KPMG Consulting.

Mr Hasteer will handle human resources including talent acquisition and leadership development, while Mr Chaturvedi will be responsible for building the company’s brand and leveraging its new acquisitions.

Last month, PropTiger.com had acquired rival Makaan.com for an undisclosed amount, to ramp up its presence in the secondary property market.

It is aggressively expanding its presence, especially after News Corp took a 25 per cent stake in Elara Technologies Pte Ltd, which owns PropTiger.com, for $30 million (Rs 185 crore) in November 2014.

Other key investors in Elara include SAIF Partners and Accel Partners.

Founded in February 2011, PropTiger.com helps customers through the entire process of buying a home, including search, property identification, price negotiation, documentation, home loan facilitation and post sales services.

It has eight offices in the country with employee strength of around 500. Since 2011, around 12,000 homes worth $1.2 billion have been purchased through PropTiger’s web platform.

PropTiger.com also provides real estate consulting and data services to real estate developers, private equity investors and banks. Business Line