Blox acquires realty sales & marketing co Plinthstone REMA for $1.5 million

Technology-enabled real estate buying platform Blox has acquired property sales and marketing company Plinthstone REMA for $1.5 million or Rs 11.6 crore. The new acquisition will be added to Blox as an extension of its portfolio and will be known as Blox Exclusive.

Plinthstone, now a part of Blox was founded in January 2021 as a multi-speciality realty advisory company offering services to the real estate sector. It has executed four mandates with over Rs 200 crore sales volume.

“Plinthstone is our first acquisition and brings us one step closer towards achieving our goal of being the biggest and best home buying ecosystem in India. We are using technology to bring eCommerce-type functionality to the home buying process and build trust and transparency with homebuyers,” said Aditya Jhaveri, Founder & CEO, Blox.

Plinthstone has a current order book of nearly Rs 1,000 cr with sales mandate over 3 projects located across the city and a future pipeline of Rs 1,500 cr of sales mandates that will go to market over the next year under Blox Exclusive. This is in addition to the Rs 3,000 crore order book of sales mandates that Blox currently holds.

Blox serves over 300 developers listed on its platform, and actively services around 700 projects in Mumbai and Thane.

Backed by Tinder founder Justin Mateen and other silicon-valley investors, Blox allows home buyers to browse perfectly verified inventory, directly listed by developers on the platform.