Shilpa-promoted realty portal eyes to get Rs 100 cr

Mumbai: Bollywood actress Shilpa Shetty promoted realty portal  `Grouphomebuyers.com` today said it expects Rs 100 crore business in the next 12 months in terms of commissions and advertisements. The portal, owned by Groupco Infracom (partly owned by Shetty and her husband Raj Kundra), already has business in Dubai. It today introduced an India-specific site.

The Kundra Constructions owns 50 percent stake in the portal, with the rest of the stake being owned by Hem Tejuja, who is the managing director of Group Infracom. "Grouphomebuyers harnesses the power of group buying and empowers each individual home buyer to get significant discount which is almost unachievable individually," Tejuja said.

"There has been a significant dip in home buying deals after the increase in interest rates. We thought this was the right to time to cash in this opportunity. We expect to generate around Rs 100 crore revenue within the next 12 months by closing as many deals as possible," he said.

Grouphomebuyers.com has signed deals with developers for 20 projects in five cities- Mumbai, Pune, Chennai, Bangalore and Delhi and will soon be entering Ahmedabad, Hyderabad and Jaipur. Groupco joins companies including groffr.com, which are seeking to tap demand for homes.