India Sotheby’s International Realty raises USD 2 million for expansion
India Sotheby’s International Realty, which is into advisory services for luxury properties, has raised USD 2 million from high net worth individual to expand its operations in Bengaluru, Kolkata and Gurgaon as it expects demand for premium housing to rise. The company, an exclusive master franchisee of US-based Sotheby’s International Realty, had few months back entered into an equity deal with Bennett Coleman and Company Ltd (BCCL) worth USD 7 million.
“We have raised USD 2 million from HNI. The fund will be used for expansion in three new cities. We currently have presence in Delhi and Mumbai,” India Sotheby’s International Realty CEO Amit Goyal told.
The company would also increase headcount to about 50 from the current around 30, he said, adding that the company plans to set up India desk at Singapore, New York and Canada to market Indian properties among NRIs.