Homesfy: Revolutionizing Property Transactions as India's First Listed Real Estate Brokerage
If you order a pizza, you instantly think of Domino’s or Pizza Hut. But if you want to buy or sell a home—one of the largest financial decisions of your life—can you think of a single national brand you can blindly trust? Ashish Kukreja, the Founder of Homesfy, identified this "trust gap" a decade ago. Today, Homesfy is not just a leading proptech firm; it is India's first listed real estate brokerage, proving that the unorganized world of property agents can be institutionalized through technology, transparency, and a relentless focus on customer experience.
An MBA in Finance with a background at Kotak Securities, Kukreja's journey from Karnal, Haryana, to the floor of the NSE is a masterclass in market-first evolution. Starting in wealth management in 2011, he pivoted entirely to real estate advisory by 2013. Alongside his team, he has built a dual-engine business: Homesfy for direct consumer brokerage and MyMagnet.io for empowering the millions of small "Mom and Pop" brokers across India. With a successful IPO in early 2023 and an expanding footprint in Dubai, Homesfy is leading the "LeapFrog" movement in Indian proptech.
The Complexity Moat
In India, property choices change every mile. You can see a $100,000 property next to a $10 million one on the same street in Mumbai. This lack of standardization is exactly what makes the market ripe for disruption. By navigating this complexity with data-driven advisory, Homesfy turns a fragmented market into a scalable opportunity.
Institutionalizing the "Broken" Sector
Kukreja describes the Indian brokerage sector as being in an "early stage," despite its size. Unlike mature markets in Singapore or Dubai, India lacks top-tier national brands with a strong technology backbone. "A broker out there is seen as a contrarian thing... but we are like doctors," Kukreja explains. "If you go to a doctor and believe you can't trust them, you won't spend a minute there. In real estate, you need that same sincere, high-quality advice."
This "doctor-patient" trust model is the core of the Homesfy strategy. By focusing on "institutionalization"—which means running a clean, transparent business with a rigorous value system—Homesfy secured its listing on NSE Emerge. They were one of the fastest to get approval, receiving the green light in just one and a half months, a testament to the clean business processes they had built over a decade.
"The day we got listed and the bell was ringing at the exchange, I felt it was Day Zero. Everything we did so far was just to get us to the starting line. We are starting fresh from here, and there is a long way to go."
The Dual-Engine Model: Homesfy & MyMagnet
Recognizing that he couldn't solve the entire industry's problems alone, Kukreja built two distinct yet complementary businesses:
The Proptech Growth Engine
- Homesfy: A high-touch, tech-enabled direct brokerage that handles primary inventory (new projects) for end consumers. It relies on digital marketing, high-quality advisors, and post-sales support.
- MyMagnet.io: A tech platform designed for small, individual brokers and freelancers. It provides them with technical training, advanced CRM tools, and transaction support.
- The Synergy: By distributing their learnings to the wider market via MyMagnet, Homesfy takes a "small pie" of the overall industry growth while professionalizing the entire ecosystem.
Navigating the Supply-Demand Puzzle
Unlike many marketplaces, Homesfy's supply side is inherently sorted. By focusing on the primary market (large project developers), they have access to massive inventories looking for professional sales partners. The real challenge—and Homesfy's competitive advantage—is the demand side.
Using a mix of organic digital marketing, referrals, and BTL events, Homesfy reaches customers at the crucial moment of decision-making. Kukreja predicts that within the next 2-3 years, India will have 2-3 dominant brands that families will reach out to instinctively for property needs. "You will say to your family, 'Let's reach out to Homesfy because they stand for these things,'" he envisions.
Homesfy: Key Milestones (Jan 2026)
- Listing Status: India's first real estate brokerage listed on NSE Emerge (Jan 2023).
- IPO Success: Raised ₹15.86 Crores with one of the fastest approval cycles.
- Global Reach: Operational in Dubai, servicing the NRI audience and local potentials.
- Market Cap: A leader in the Indian SME proptech segment.
The Dubai Window: Capturing the NRI Opportunity
Homesfy's first international stop is Dubai. This move is two-fold: first, to service the massive Indian diaspora who want to "buy back home" in India, and second, to capture the local potential of the booming Dubai property market. "Indians are everywhere," Kukreja notes. By building a local franchise in Dubai, Homesfy is establishing itself as a global player in property advisory.
Founder's Wisdom: Lessons in Resilience
Confidence is Basic: If you are getting into something, you need to be very, very confident about yourself and your sector.
Invest in People: You are nothing without a team. If you don't invest in people policies and building a great team, you will always suffer.
Embrace the Block: Every challenge, including COVID-19, should be seen as an opportunity. Without that difficulty, we wouldn't have seen what we were truly made of.
The Meaning of a "Natural Progression"
For Ashish Kukreja, entrepreneurship wasn't a sudden "Eureka" moment. It was a natural progression of his mindset. Even when working in a corporate job at Kotak Securities, he treated his role as his own business. He credits his motivation to a deep-rooted love for reading and the support of a few key people who backed him early on.
As Homesfy continues to scale, Kukreja remains grounded. He believes that success is a combination of many things coming together—the team, the sector, and a due respect for luck. "Be humble, be grounded... and take care of your health. Your energy levels are critical for you to build businesses," he concludes. In the world of Indian real estate, Homesfy is no longer just a participant—it is the brand setting the institutional rules for the game.
About the Guest
Ashish Kukreja is the Founder and CEO of Homesfy Realty Ltd. and MyMagnet.io. With over 17 years of experience in real estate brokerage and private wealth management, Ashish has been a pioneer in professionalizing the property advisory sector in India. An alumnus of IIT Bombay and an MBA in Finance from Hyderabad, he previously held leadership roles at Kotak Securities and Unicorn Investment Solutions. In 2023, he led Homesfy to a historic listing on the NSE Emerge platform, making it the first listed real estate brokerage in the country. He is a passionate advocate for proptech innovation and sustainable business growth.
Homesfy Realty Ltd. is a premier Indian proptech company headquartered in Thane, Maharashtra. Specializing in real estate broking services, the firm provides end-to-end transaction support for residential and commercial properties. Through its direct sales arm and its broker-enablement platform MyMagnet.io, Homesfy combines cutting-edge technology with high-quality advisory to bring transparency and trust to the real estate market. The company is listed on the NSE SME exchange and operates across major Indian cities and international markets like Dubai.