PropTiger lays off 200 employees after merger with Housing.com

PropTiger.com is laying off nearly 200 employees as part of a restructuring exercise after its merger with Housing.com.

The realty portal handed pink slips to ensure optimal utilisation of resources in the combined entity.

Elara Technologies Pte, which now owns Housing.com, PropTiger.com and Makaan.com, announced a strategic restructuring aligned with its long-term business objective to become India's largest full-service online-to-offline real estate platform.

PropTiger.com CEO Dhruv Agarwala said, "We have made a restructuring exercise to integrate the operations of the two companies. Our headcount has come down by about 200 people from overlapping support functions of the two organisations."

Meanwhile, the joint entity received USD 55 million in fresh investment, which will be deployed to further strengthen the company's core capabilities and brand.

Elara Technologies offers full range of online and offline services in the real estate space such as personalised search, virtual viewing, site visits, legal and financial diligence, negotiations, property registration, home loans and post-sales service.