New Delhi, September 17: Having been in operation successfully for almost five years now, wealth and asset management start-up Indiassetz Infra Services, is planning to enter Singapore market next year. It already has operation in Dubai.
In the domestic market also they are looking for expansion. The Bangalore-based company will expand to Delhi and Mumbai market by October 2019 followed by Pune and Kolkata by March 2020, Shivam Sinha, CEO, Indiassetz Infra Services told Outlook Money in an interview.
Indiassetz is basically into wealth and asset management and manage over 4,000 high net-worth individuals (HNI) and their assets worth over Rs 3,500 crore.
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HNI investments can be divided into two parts – cash wealth and real estate. Sinha said almost 80 per cent of their investments are in real estate.
Indiassetz manage these real estate properties for NRIs and HNIs in India by giving them advisory, management and execution solutions. Its portfolio has 50 per cent domestic clients and 50 per cent NRIs.
The company that started with Rs 2 lakh now has a topline of $2 million, said Seema Harsha, Chief Operating Officer, Indiassetz Infra Services. It is expected to grow 5 per cent in 2019-20.
The company has tieups with wealth management companies and banks.
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Talking about the impact of demonetisation and implementation of Real Estate Regulatory Authority, Sinha said both had helped their business. Lots of NRI and professionals in India do not want to buy or sell properties by cash.
“Real estate sector in India has so far remained builder driven. We are looking forward to presence of strong RERA,” he added.
Both of them mentioned that the company is agnostic to any particular ticket-size of a client while registering the client.
Since the company is replicating banking model for their operations, they are building a software like the banks.
“It will be very easy for the clients once it is built. Once they login with the id and the password they can find papers of all their properties in one destination,” said Harsha.
