Property management company Propdial to expand to Mumbai, Chennai and Kolkata

Property Management and Maintenance company Propdial is in talks to raise Rs two crore to expand its operation to Mumbai, Chennai and Kolkata as demand for property management has increased with NRIs unable to come to India due to COVID induced restrictions.

The company is also in talks with society management apps and brokerage firms to put such properties on rent.

“70% of property under management are of NRIs and mostly they used to ask relatives to check and maintain the property. With COVID, they have realised it is not a long term solution. This has lead to growth in our business,” said Vinay Prajapati, co-founder and CEO, Propdial.


End to end Property Management Service is a new category in Proptech space and many existing players also started this as a new revenue vertical.

“We are targeting for 5-6 times year-on-year growth in revenue and plan to reach out to 12 States/30 Cities in next 2-3 years, with deeper presence,” said Prajapati.

The company signs the management agreement for one year for residential properties and offer services such as bill payment, maintenance, cleaning and services related to tenant.

“As we see a huge surge in demand post partnerships as well growth in organic traffic, we need to scale our sales and operation functions, while also improving tech stack. We are planning to raise pre-Series A funds so that we can fuel the growth, while a larger fund round (Series A) is planned to raise in H2,” said Prajapati.