ASTRA will help maximize sales profitability; reduce marketing costs
ANAROCK will soon launch India’s first Artificial Intelligence & Machine Learning (AI/ML) PropTech solution ASTRA to boost primary housing sales by up to 15 per cent. It will be the first Indian real estate services firm to offer this cutting-edge digitech solution to its developer clients
Developed by ANAROCK and its Data Analytics partner G-Square Solutions, ASTRA accelerates housing sales and enhances revenue turnover by 12-15 per cent. The system's algorithm analyses customer behaviour data to yield highly accurate leads, thereby boosting marketing efficiency, reducing costs, and delivering an engaging user experience to developers and their customers.
Anuj Puri, Chairman, ANAROCK said, "We began developing the ASTRA Artificial Intelligence models in 2019, configuring multiple models across different types of real estate projects across India. Now in its final development stage, ASTRA will give developers a 20-fold return on their investment in this AI-driven platform.”
Sunil Mishra, Group Chief Strategy Officer, ANAROCK said, "To put it in numbers - when used by India's top players who command 50 per cent of market sales share, ASTRA will increase sales by at least 10 per cent. The additional 12,500 units thus sold will add Rs 6,000 crore of additional turnover annually. ASTRA uses predictive analysis that processes multiple consumer behaviours and data points to instantly provide the highest quality leads, while sales teams can thus focus their attention on enquiries with the highest conversion probability. But that's not all - ASTRA further analyses less-probable leads to isolating those likeliest to result in transactions."
According to Deloitte, PropTech start-ups raised as much as $43 billion in funding in 2012 and by 2018, this rose by a massive 82 per cent. Consumer data analysis firm Statista finds that the overall value of global PropTech deals from 2013-2020 was around $33 billion.
While ANAROCK will apply the basic ASTRA model as the firm’s primary sales driver going forward, developers can invest in advanced bespoke versions customised to projects mandated with ANAROCK. ASTRA will roll out for active commercial adoption by September 2021.