Blox, a digital real estate platform, has acquired an 11 per cent stake in Guardians for USD 12 million, with plans to increase its ownership to 50 per cent over the next three years. This acquisition solidifies Blox and Guardians as India’s largest real estate seller, managing annual sales of approximately 25,000 homes with a consolidated Gross Transaction Value (GTV) of USD 2 billion in the primary residential market.
Looking ahead, Blox is set to grow its GTV fivefold to USD 10 billion over the next 3-5 years, aligning with the rapid expansion of India’s real estate market, which is projected to exceed USD 1 trillion by 2030. As India’s first platform to combine Direct-to-Consumer (D2C) and Business-to-Business-to-Consumer (B2B2C) models, Blox is positioned to transform the way developers, brokers, and buyers interact in the real estate space.
Founded in 2020 by Aditya Jhaveri and Shivani Karia Jhaveri, Blox is India’s platform that allows homebuyers to purchase properties entirely online. Supported by USD 35 million in funding from prominent investors like Kunal Shah (founder of CRED) and Justin Mateen (co-founder of Tinder), Blox combines advanced AI with a broker-led B2B2C approach to deliver a seamless real estate experience.
This hybrid model, unique to Blox, integrates brokers directly into the platform, while maintaining a smooth, D2C experience for buyers by listing and subsequently selling inventory directly from developer to the buyers.
Founded in 2016, Guardians has transformed Mumbai’s real estate landscape with 174 project launches, 23,000 units sold, and a total sales turnover of USD 5.54 billion. Guardians has developed strong relationships with 86 developers and a network of 18,168 channel partners. By partnering with Guardians, Blox accelerates its ability to reshape the real estate transaction process and expand its distribution capabilities at scale.
To enhance its focus on technology-driven growth, Blox is carving out its real estate development and management assets into a separate entity, streamlining operations to support sustained growth. With a projected EBITDA profitability of 20-30 per cent, Blox is poised to capture significant investor interest, paving the way for a potential IPO as it leads India’s digital real estate transformation.
“Our vision at Blox is to transform the Indian real estate market by creating a seamless, transparent experience that brings value to buyers, brokers, and developers alike,” said Aditya Jhaveri, Founder and CEO of Blox. “By integrating Guardians, we’re not only enhancing the homebuying process but also establishing India’s first platform capable of supporting both D2C and broker-led B2B2C sales. This dual-pathway model is a game-changer for India’s real estate sector, offering developers unprecedented reach and flexibility.”
Jayesh Rathod, Director of Guardians, added: “Our partnership with Blox is set to reshape the real estate market in India. By combining Guardians’ market expertise and with Blox’s technology, we’re setting a new benchmark for transparency, efficiency, and service.”
With an eye on scaling to USD 10 billion GTV over the next 3-5 years, Blox is strategically positioned to capture investor interest as it redefines India’s residential real estate market and approaches a public listing.
