News update
- byStartup Story | January 6, 2024
In a significant move in the real estate sector, Blox, an AI-enabled real estate services provider founded in 2020, has acquired a controlling stake in Justo, a prominent real estate brokerage firm. Although the specific transaction amount was not disclosed, sources said the acquisition was done at an enterprise value of 350 million rupees.
Blox founder and CEO Aditya Jhaveri expressed his enthusiasm for the acquisition and highlighted its strategic importance. He said the move underscores Blocks’ dedication to expanding its presence across India and making advanced AI technology available to all participants involved in the real estate buying and selling process. emphasized.
Mr. Jhaveri further elaborated that the combined entity, which currently consists of Blox and Justo, is poised to make a significant impact on the market. The group aims to capture around 10% of the primary real estate market share in India’s top seven real estate cities within the next 12-18 months.
This acquisition marks a pivotal moment for Blocks, which is poised for significant growth and influence in the Indian real estate industry. With the addition of advanced AI capabilities and Justo’s expertise, Blox plans to redefine the dynamics of the real estate industry and provide enhanced services and experiences to its customers.
