PropertyGuru reports Q1 EPS (S$0.04) vs. (S$0.06) last year

Reports Q1 revenue S$36.52M vs. S$32.63M last year. Hari Krishnan, CEO and managing director, said “Across Southeast Asia, we have seen governments introduce robust policies and budgets to accelerate growth, resulting in uplifted property sentiment. In the first quarter of 2024, we delivered double-digit revenue growth, with the Singapore business showing particular strength. In Vietnam, we are seeing a gradual improvement in the property market towards the end of the quarter, with listings on our platform hitting a 12-month high in March. Despite near-term challenges, we see a positive outlook for the Malaysian market, with our latest consumer sentiment survey indicating that 1 in 3 Malaysians intend to buy a property in the next two years. We are encouraged to see agents in Singapore continue to adopt our AI supported product features to enhance the quality of their listings and engagements. Our new AI video feature, introduced in January, has close to 60% of agents using it after their first trial. As part of our efforts to assist an industry adopting increased professionalism, we rolled out our Professional Agent Verification process in Vietnam, which saw more than 500 agents verified in the first week. I am also proud to share that we have released our first sustainability report. This is supported by the recently launched ‘Gurus For Good’ program, our sustainability mandate. This year our solutions will play a bigger role in empowering our customers as we power communities to live, work, and thrive in tomorrow’s cities.”