HomeBusinessIndia's largest asset class is real estate: Abhilash Narahari, CEO of Ivy Homes

India’s largest asset class is real estate: Abhilash Narahari, CEO of Ivy Homes

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Speaking with TechGraph’s editorial team, Abhilash Narahari, Co-founder and CEO of Ivy Homes said, “Real Estate is the largest asset class in India.”

Read the complete interview:

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TechGraph: Could you help give a sense of how far Ivy Homes has come since its existence?

Abhilash Narahari: We launched Ivy Homes in January this year. Things have been coming along pretty well. We’re currently making over 200 offers every month and making sales of about $1Mn a month.

TechGraph: How is Ivy Homes facilitating the entire property buying and selling process entirely digitally?

Abhilash Narahari: Real estate is ages behind most industries when it comes to transacting digitally. There haven’t been too many improvements since the digital classifieds. At this point, we’re buying homes through an almost entirely digital experience.

We make our initial offer without a visit to the property entirely through the pricing and liquidity predicted by our data science model. Before we make the final offer, our team visits the property to assess on-site conditions

TechGraph: How is technology transforming the real estate sector? Do you think the trend had taken hold even before the pandemic-induced disruptions?

Abhilash Narahari: Technology is transforming real estate on multiple fronts.

  • Availability of data – Demand and supply data is available at a previously unseen scale. This has enabled multiple new business models to be built including that of Ivy Homes.
  • Virtual tours/ staging – Through VR, customers have a much better feel of properties before they make their physical visit.
  • Legal Tech – Property diligence has always been a bugbear for property transactions. ML-assisted due diligence along with digitized property records is making it faster and cheaper to do property due diligence.

A lot of this progress would’ve happened independently of the pandemic. However, Covid likely accelerated it in some cases – especially around virtual tours.

TechGraph: How do you see technologies namely Artificial Intelligence, and Cloud, with regards to their relevance across the sector? What does the future look like?

Abhilash Narahari: Artificial intelligence is just about beginning to make its mark on the real estate sector. There is tremendous more scope for using AI/ML. We have built Ivy Homes with a heavy focus on Machine Learning to price homes, build out our data infrastructure, and assess risk.

AI also has a very large use case for mortgage providers in assessing the value and risk of a property. I’ve also spoken earlier about the use of AI in Legal tech which should make diligence a lot easier.

TechGraph: What are the trends in house buyers and real estate?

Abhilash Narahari: Real Estate is (fortunately) one of those asset classes that have very little volatility. Since 2021, we’ve seen a steady increase in demand for homes – especially in Bangalore. We’ve seen this across configurations and micro markets.

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TechGraph: What is Ivy Homes’ growth trajectory?

Abhilash Narahari: At Ivy Homes, we’ve been able to hit a monthly run rate of $1Mn in under 10 months. We have aggressive plans for the next year and are targeting to grow 4x.

TechGraph: What is the roadmap for Ivy Homes, going forward?

Abhilash Narahari: Real Estate is the largest asset class in India. We’re barely scratching the surface in terms of building a transactional platform for Home sellers and buyers. We plan to expand to the top 10 within 2 years. In terms of our product, we’re looking to launch services across multiple adjacencies of the home-selling transaction.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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COP28 UAE: SANY Promotes Green Manufacturing Transformation, Takes Concrete Action to Tackle Climate Challenges

CHANGSHA, China, Nov. 23, 2023 /PRNewswire/ -- SANY Group, ("SANY"), a globally leading enterprise of the high-end equipment manufacturing industry, is accentuating advancing sustainable development and the green manufacturing transformation of the heavy machinery industry, ahead of the COP28 UAE, that is set to take place from November 30 to December 12 in Dubai. The theme of the 13-day program this year is "Actionism," calling for people to rise to meet the climate change challenges.

The COP28 will center on four major paradigm shifts – namely accelerating the transition from fossil fuels, agreeing on climate finance shifts, emphasizing the role of people and nature in climate action, and ensuring the summit is an inclusive event that women, indigenous people, local communities, youth, countries and more can all be a part of.

SANY is responding actively and positively to the summit's agenda with concrete actions to promote the transformation of green manufacturing, bringing sustainable solutions to the industries of mining, construction, wind power, and more.

Taking green actions to build a sustainable future

SANY is vigorously expanding the use of green energy (renewables such as solar and wind) in production processes to reduce the reliance on traditional energy sources, lower carbon emissions, and support climate change actions. It has adopted multiple initiatives, especially in accelerating the R&D and application of wind energy, hydrogen, and electrification solutions, and achieved significant results.

SANY's subsidiary SANY Renewable Energy has been investing in and constructing wind farms to boost the proportion of wind power in the energy structure, through intelligent upgrades in manufacturing and creating intelligent workshops. By doing this, SANY Renewable Energy has reduced the overall unit energy consumption and carbon emissions by 15 percent compared to pre-upgrade.

In 2022, SANY has added more than 3,000 energy metering connections. SANY built China's first intelligent mixing station park and invested 3.22 million yuan in photovoltaic construction that will produce 900,000 kWh of power annually. The park will cut 887 tons of carbon emission, 242 tons of dust emissions, 26.7 tons of sulfide, and 13.4 tons of nitric oxide to achieve synergetic development of intelligent manufacturing and environmental conservation.

A total of 11 subsidiaries of SANY have installed photovoltaic power generation equipment, with clean energy usage amounting to 16.013 million kWh.

SANY is actively engaged in the R&D of hydrogen fuel cell technology to improve battery efficiency, reduce cost, and boost the production and storage capabilities, while expanding the applications of hydrogen energy.

Innovation-driven climate action tackles industry bottlenecks

Through establishing a green supply chain, SANY adopts renewable materials and environmentally friendly technologies to reduce resource waste and improve the sustainability of the supply chain.

SANY continues to improve the long-term mechanism for pollution prevention and control, strengthen the control of waste emissions including water, gas, and other hazardous substances, and be cautious of business and operation actions that could damage the ecological environment. In 2022, the group's wastewater and gas emissions met the standard rate of 100 percent, with a 100 percent compliance rate for hazardous waste disposal.

The group is also pushing for using environment-friendly materials to minimize pollution, so that the carbon reduction throughout the product life cycle also includes materials. In 2022, its VOCs emission density was 0.0011 tons per million revenue, a 39.71 percent reduction from the base year.

Meanwhile, the continuous upgrade of production techniques and processes, promotion of energy conservation technologies, and advancement of low-carbon technology development are not only playing key roles in improving production efficiency, but also reducing carbon footprint and aims to reach the "dual-carbon" goals.

Calling for the public's participation

SANY has been carrying out training programs and campaigns centered on environmental protection for employees, while further raising community engagement in terms of green, low-carbon, community-friendly, and educational innovation agendas. In 2022, the company employees completed 687.4 hours of volunteer work, and SANY invested 9.75 million yuan in the year to support 15 public welfare projects.

SANY Construction Industry is leading the green technology application in urban infrastructure construction to accelerate the sustainable development of cities and building intelligent cities, green transportation systems, and energy-conserving architectures to reduce energy consumption, improving urban environment quality and people's livelihoods.

In terms of biodiversity and sustainable development, SANY emphasizes the conservation of soil, ocean, crops, and animals to create a better future, and advocates a circular economy to decrease the waste of resources.

In the context of increasingly severe issues of global climate change, SANY, as a leader in the green industry, is committed to promoting sustainable development and actively joining global efforts to address climate change through comprehensive initiatives such as green supply chains, green energy, and carbon emission reduction.

For more information about SANY Group, please visit www.sanyglobal.com or follow us on Facebook or YouTube.

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