Based on knowledge from Zapkey (seen by Moneycontrol), in 2022, 12 of India’s priciest property offers had been bagged by startup executives.In the meantime, solely six startup executives purchased these properties in 2023. This displays the tightening belts within the startup ecosystem.
How startups market declined in 2023
The report additionally claims a 62% drop in ESOP cashout occasions, plummeting from 42 in 2022 to a mere 16 final 12 months. This exhibits the dramatic crash in startup funding, which nosedived from $2.4 billion in 2022 to $814 million in 2023.
Sandeep Reddy, co-founder of Zapkey, defined, “The larger property offers additionally jumped in value final 12 months. Transactions within the Rs 100-300 crore vary noticed a big rise, whereas startup of us usually stick with the sub-Rs 50 crore phase.”
As the posh housing market in India continues to thrive, the startup crowd has been relegated to the sidelines. The report means that the ESOP cashouts and lavish property acquisitions have dimmed for now and has been changed by a cautious, cost-conscious strategy.
Startup executives who purchased unique properties in 2023
In 2023, notable property acquisitions inside India showcased numerous funding profiles. Radhakishan Damani, founding father of DMart, led the pack with a considerable buy valued at Rs 1,238 crore. In the meantime, Bhanu Chopra, managing director of Rategain, made probably the most important purchase inside the startup ecosystem, however at a relatively decrease worth of Rs 127.48 crore.
However, Peyush Bansal, the chief of Lenskart and the only real unicorn founder within the rankings, made an Rs 18 crore property acquisition in Delhi’s Neeti Bagh.
