Year: 2023

Revenues Grew 16% Year Over Year in the First Quarter and Adjusted EBITDA was Positive

• Total revenues grew 16% to S$33 million in the first quarter 2023, with over 25% year over year growth in every segment except Vietnam
• The Company reaffirms its full year 2023 outlook for revenue of S$160 million to S$170 million and Adjusted EBITDA of S$11 million to S$15 million

Singapore – May 24, 2023 – PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or the “Company”), Southeast Asia’s leading¹, property technology (“PropTech”) company, today announced financial results for the quarter ended March 31, 2023. Revenue of S$33 million in the first quarter 2023 increased 16% year over year. Net loss was S$10 million in the first quarter and Adjusted EBITDA²was a positive S$0.2 million. This compares to a net loss of S$120 million³ and a positive Adjusted EBITDA of S$0.5 million in the first quarter of 2022.

Management Commentary

Hari V. Krishnan, Chief Executive Officer and Managing Director, said “Our first quarter results are a successful start to 2023.  As expected, performance in Singapore and Malaysia helped offset the challenging market conditions in Vietnam. In Singapore, our solutions performed well, effectively monetizing the strong sales market as well as taking advantage of rising rental rates. Malaysia continues to benefit from newly launched products and further execution of our dual brand strategy. Vietnam remains the primary challenge in the near-term, as governmental monetary policy has significantly impacted real estate transaction activity. We believe that these pressures will begin to abate in the latter part of 2023 and into 2024. We continue to proactively manage our operations to maximize performance while laying the groundwork to take advantage when the Vietnam real estate market recovers. In all of our markets, we are often reminded that the value of PropertyGuru solutions for our customers can be more visible when the property cycle transitions and macro-economic pressures intensify.

As we move into the middle of 2023, we remain positive in both our ability to deliver essential, differentiated property solutions to our agent and enterprise customers as well as the long-term health and opportunity that is characteristic of our Southeast Asian property markets. In the following quarters, we will be focused on helping consumers find, finance, and own their homes.  We continue to be excited about the fundamental opportunities available in the markets we operate in.”

Joe Dische, Chief Financial Officer, added “We are pleased with the 16% year over year revenue growth in the first quarter of 2023. The year has started off strongly despite the anticipated challenges in Vietnam due to monetary policy actions by the government in a targeted effort to cool real estate market activity. Given macro uncertainty, we continue to keep a close eye on costs, especially with respect to discretionary spending. Our Adjusted EBITDA this quarter was in-line with the first quarter of 2022 despite the inclusion of a full quarter of costs associated with being a listed entity. We remain confident in the underlying strength of our offerings and the opportunities in the Southeast Asian property markets. As a result, we are reaffirming our 2023 full year financial outlook for both revenue and Adjusted EBITDA. Lastly, we are encouraged by the types of strategic M&A opportunities we are seeing in the marketplace as we continue to explore and evaluate adjacent opportunities to deploy available capital.”

Financial Highlights – First Quarter 2023

• Total revenues increased 16% year over year to S$33 million in the first quarter.
• Marketplaces revenues increased 15% year over year to S$31 million in the first quarter, as continued strength in Singapore and Malaysia offset challenges in the Vietnam market due to governmental restrictions on credit.
• Revenue by segments:
  • Singapore Marketplaces revenue increased 26% year over year to S$19 million, as the number of overall agents and the Average Revenue Per Agent (“ARPA”) grew in the quarter. Quarterly ARPA was up 19% in the first quarter to S$1,124 as compared to the prior year quarter and the number of overall agents in Singapore was up over 200 from year-end 2022 to 15,765 agents. The renewal rate was 79% in the quarter.
  • Malaysia Marketplaces revenue increased 26% year over year to S$7 million, as the Company continues to leverage our two market leading brands (iProperty and PropertyGuru).
  • Vietnam Marketplaces revenue decreased 34% year over year to S$3 million, as governmental actions to tighten credit continue to impact the overall number of listings in the market. The number of listings was down 32% to 1.1 million in the first quarter as compared to the prior year quarter. The average revenue per listing (“ARPL”) was S$2.95, in-line with the first quarter of 2022.
• At quarter-end, cash and cash equivalents were S$294 million.

Information regarding our operating segments is presented below. It is noted that in 2023 the Company is no longer removing the ongoing cost of being a listed entity when calculating Adjusted EBITDA. As such, the 2022 comparative has been restated.

Strong Category Leadership Drives Long-Term Growth Opportunities

As of March 31, 2023, PropertyGuru continued its Engagement Market Share⁴ leadership in Singapore, Vietnam, Malaysia, and Thailand.

Singapore: 82% – 5.6x the closest peer                Thailand: 54% – 2.2x the closest peer

Vietnam: 83% – 5.1x the closest peer                    Indonesia: 26% – 0.4x the closest peer

Malaysia: 93% – 13.9x the closest peer

Full Year 2023 Outlook

The Company reaffirms its full year 2023 outlook of revenues between S$160 million and S$170 million and Adjusted EBITDA between S$11 million and S$15 million.

In the short term, the Company may be impacted by several factors outside of its control. These factors include actions by the government of Vietnam to rein in the availability of consumer credit, residual political uncertainty in Malaysia, property taxation and stamp duty increases in Singapore as a mechanism for prioritizing affordable home ownership for Singaporeans, a lack of clarity in global fiscal policy stemming from rising interest rates, greater inflationary pressures, and global supply chain issues. Longer-term, the Company remains bullish on its growth trajectory, prospects for improving profitability, and the fundamental opportunity that exists in our core markets.

Conference Call and Webcast Details

The Company will host a conference call and webcast on Wednesday, May 24, 2023, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company’s financial results for the first quarter of 2023 and full year 2023 outlook. The PropertyGuru (NYSE: PGRU) Q1 2023 Earnings call can be accessed by registering at:

https://propertyguru.zoom.us/webinar/register/WN_TlifVd2DS4SqGghTyijfvw

An archived version will be available on the Company’s Investor Relations website after the call at https://investors.propertygurugroup.com/news-and-events/events-and-presentations/default.aspx

About PropertyGuru Group

PropertyGuru is Southeast Asia’s leading¹ PropTech company, and the preferred destination for over 37 million property seekers⁵ to connect with almost 60,000 agents⁶ monthly to find their dream home. PropertyGuru empowers property seekers with more than 2.9 million real estate listings⁷, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

Contact Information:

Key Performance Metrics and Non-IFRS Financial Measures

Our priority markets comprise Singapore, Vietnam, Malaysia and Thailand. Our core markets comprise Singapore, Vietnam, Malaysia, Thailand and Indonesia.

Engagement Market Share is the average monthly engagement for websites owned by PropertyGuru as compared to average monthly engagement for a basket of peers calculated over the relevant period. Engagement is calculated as the number of visits to a website during a period multiplied by the total amount of time spent on that website for the same period, in each case based on data from SimilarWeb. Engagement Market Share is based on the prevailing SimilarWeb algorithm on the date the Company first filed or furnished such information to the U.S. Securities and Exchange Commission (“SEC”).

Number of agents in all core markets except Vietnam is calculated for a period as the sum of the number of agents with a valid 12-month subscription package at the end of each month in a period divided by the number of months in such period. In Vietnam, number of agents is calculated as the average monthly number of agents who credit money into their account within the relevant period. When counting in aggregate across the PropertyGuru group, in markets where PropertyGuru operates more than one property portal, an agent with subscriptions to more than one portal is only counted once.

Number of real estate listings is calculated as the average number of listings created monthly during the period for Vietnam and the average number of monthly listings available in the period for other markets.

Average revenue per agent (“ARPA”) is calculated as agent revenue for a period divided by the average number of agents in that period, which is calculated as the sum of the number of total agents at the end of each month in a period divided by the number of months in such period.

Number of listings in Vietnam is calculated as the sum of all listings created in each month over the relevant period (other than listings from promotional accounts). Number of listings is used to calculate average revenue per listing, which is described below.

Average revenue per listing (“ARPL”) is calculated as revenue for a period divided by the number of listings in such period.

Renewal rate is calculated as the number of agents that successfully renew their annual package during a period divided by the number of agents whose packages are up for renewal (at the end of their twelve-month subscription) during that period.

This press release also includes references to non-IFRS financial measures, namely Adjusted EBITDA and Adjusted EBITDA Margin. PropertyGuru uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. PropertyGuru believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS or GAAP results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as net loss and loss before income tax.

Adjusted EBITDA is a non-IFRS financial measure defined as net profit/loss for year/period adjusted for changes in fair value of preferred shares, warrant liability and embedded derivatives, finance costs, depreciation and amortization, tax expenses or credits, impairments when the impairment is the result of an isolated, non-recurring event, share grant and option expenses, loss on disposal of plant and equipment and intangible assets, currency translation profit or loss, fair value profit or loss on lease modifications and contingent consideration, business acquisition transaction and integration cost (including contingent consideration), the cost of listing or IPO activities.

Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.

A reconciliation of net loss to Adjusted EBITDA is provided as follows. It is noted that in 2023 the Company is no longer removing the ongoing cost of being a listed entity when calculating Adjusted EBITDA. As such, the 2022 comparative has been restated.

Forward-Looking Statements

Forward-looking statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. These statements include statements regarding our future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of PropertyGuru, market size and growth opportunities, competitive position and technological and market trends and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “goal,” “objective,” “seeks,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; competitive pressures in and any disruption to the industry in which PropertyGuru and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; the Group’s ability to implement its growth strategies and manage its growth; customers of the Group continuing to make valuable contributions to its platform; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to produce accurate forecasts of its operating and financial results; the Group’s ability to attract traffic to its websites; the Group’s ability to assess property values accurately; the Group’s internal controls; the impact of rising inflation and interest rates on the Group’s business, real estate markets and the economy in general; the impact of government and regulatory policies on real estate or credit markets in the countries in which the Group operates; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) of the countries in which the Group operates; general economic conditions in the countries in which the Group operates; political instability in the jurisdictions in which the Group operates; political unrest, terrorist activities and other geopolitical risks, including the ongoing military action between Russia and Ukraine; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic on the business of the Group; the Group’s ability to integrate newly acquired businesses or companies and the success of the Group’s strategic investments and acquisitions; changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; unanticipated losses, write-downs or write-offs; restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required subsequent to, or in connection with, the consummation of the Group’s completed business combination; technological advancements in the Group’s industry; and other risks discussed in our filings with the SEC.

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by PropertyGuru or any other person that the events or circumstances described in such statement are material. Undue reliance should not be placed upon the forward-looking statements.

Industry and Market Data

This press release contains information, estimates and other statistical data derived from third party sources and/or industry or general publications, including estimated insights from SimilarWeb and Google Analytics. Such information involves a number of assumptions and limitations, and you are cautioned not to place undue weight on such estimates. PropertyGuru has not independently verified such third-party information, and makes no representation as to the accuracy of such third-party information. 

PROPERTYGURU GROUP LIMITED AND ITS SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

PROPERTYGURU GROUP LIMITED AND ITS SUBSIDIARIES UNAUDITED CONDSOLIDATED BALANCE SHEETS

PROPERTYGURU GROUP LIMITED AND ITS SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

SINGAPORE – PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or “the Company”), Southeast Asia’s leading[1] property technology company, today announced that it will report its first quarter 2023 financial results on Wednesday, May 24, 2023. Management will host a conference call and webcast on Wednesday, May 24 at 8:00am Eastern Standard Time (EST) / 8:00pm Singapore Standard Time (SGT), following the release of its earnings materials, to discuss the Company’s financial results and outlook.

What: PropertyGuru Group Limited First Quarter 2023 Earnings Call

When: Wednesday, May 24, 2023

Time: 8:00 am Eastern Standard Time / 8:00 pm Singapore Standard Time

Register here: https://propertyguru.zoom.us/webinar/register/WN_TlifVd2DS4SqGghTyijfvw

An archived webcast of the conference call will be accessible from the “Events & Presentations” section of the Company’s Investor Relations website at: https://investors.propertygurugroup.com/news-and-events/events-and-presentations/default.aspx.

For more information, please visit: https://investors.propertygurugroup.com/

 About PropertyGuru Group

PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 41 million property seekers[2] to connect with more than 63,000 agents monthly[3] to find their dream home. PropertyGuru empowers property seekers with more than 3.2 million real estate listings[4], in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Vietnam, Malaysia, Thailand, and Indonesia.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

Contact Information

Media
PropertyGuru Group
Sheena Chopra
+65 9247 5651
[email protected]

Investor
PropertyGuru Group
Nat Otis
+1(860) 906-7860
[email protected]

[1] Based on SimilarWeb data between July 2022 and December 2022.

[2] Based on Google Analytics data between July 2022 and December 2022.

[3] Based on data between July 2022 and December 2022.

[4] Based on data between July 2022 and December 2022.

BUYERS MAINTAIN A POSITIVE VIEW OF THE MARKET’S LONG-TERM OUTLOOK

SINGAPORE — The PropertyGuru Asia Property Awards (Singapore) programme is now open for entries for its 13th edition in 2023.

Organisers of the 13th annual PropertyGuru Asia Property Awards (Singapore), supported by Mitsubishi Electric Asia Pte Ltd., now challenge the country’s leading and emerging development companies and design practices to compete for recognitions that showcase and provide an international platform for their exemplary, outstanding achievements.

Entry submissions are accepted online until 1 September 2023 via: asiapropertyawards.com/

The Singapore property market is off to a promising albeit slower start in 2023. The housing market remains resilient despite uncertain geopolitical and macroeconomic conditions, rising inflation, and increasing interest rates, according to the PropertyGuru Singapore Property Market Report Q1 2023.

Defying economic downside pressures, property prices climbed in 2022, partly due to tight supply, amid declining sales volumes across all property types. Despite the increased cost of acquiring homes, many buyers maintain a positive view of the market’s long-term outlook.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “Singapore developers continue to lead the way with designs and concepts that are not only deserving of international recognition, but also set a high standard for Southeast Asia. We are confident that this year’s entries will be just as exemplary, displaying Singaporean prowess in creating sustainable built environments and aspirational developments where people can live, work, and thrive.”

Kristin Thorsteins, chairperson of the PropertyGuru Asia Property Awards (Singapore) and head of partnership growth for APAC at IWG PLC (Singapore), said: “In recent years, Singapore developers have demonstrated remarkable resilience and flexibility, responding to changes by creating more sustainable spaces and integrating nature into their projects. As we look ahead, we anticipate witnessing further benchmark-setting innovations among our entries this year, as Singapore continues to adapt to post-pandemic societal changes and prepares to face any challenge with unwavering determination and vigour.

“With a robust infrastructure ecosystem and a commitment to green-building technologies, Singapore is at the forefront of sustainable development, leading the way in reducing energy and water consumption, as well as carbon emissions. We are confident that Singapore’s developers will continue to drive innovation in the real estate industry, creating spaces that are not only resilient, but also sustainable and in harmony with nature.”

The black-tie gala dinner and presentation ceremony of the 13th PropertyGuru Asia Property Awards (Singapore) will take place at The Ritz-Carlton, Millenia Singapore ballroom on Friday, 27 October 2023.

Key dates for the 2023 edition:
1 September 2023 – Entries Close
11-29 September 2023 – Site Inspections
3 October 2023 – Final Judging
27 October 2023 – Gala Dinner and Awards Ceremony in Singapore 
8 December 2023 – Regional Grand Final Gala Presentation in Bangkok, Thailand

The public are encouraged to submit their nominations before the deadline of entries on 1 September 2023 here: asiapropertyawards.com/nominations

Led by Thorsteins, an independent panel of judges, comprising experts in diverse fields such as real estate consultancy, architecture and interior design, and sustainable development, will participate in a rigorous process selecting the award recipients.

The resulting shortlist of nominees will be able to showcase their companies and projects to a wide network of property seekers, real estate agents, banks and valuers, and other enterprises served by PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company.

Supervised by HLB, the global network of independent advisory and accounting firms, the awards programme makes full use of a professionally run and fully transparent judging system, with an established reputation for fairness, credibility, and integrity.

Excellent Asian companies

Main winners from the 2023 edition of the PropertyGuru Asia Property Awards (Singapore) will qualify to compete with other excellent companies across the region for the ‘Best in Asia’ honours at the 18th PropertyGuru Asia Property Awards Grand Final in Bangkok, Thailand on 8 December 2023.

Singapore companies scored several regional wins at the 17th PropertyGuru Asia Property Awards Grand Final 2022. GuocoLand was named Best Luxury Developer (Asia) and Best Sustainable Developer (Asia) while UOL Group Limited was named Best Hospitality Developer (Asia).

UOL Group Limited also won Best Hotel Development (Asia) for Pan Pacific Orchard. Park Nova by Shun Tak Holdings gained the Best Condo Architectural Design (Asia) title while Artyzen Singapore by Artyzen Hospitality Group won Best Hospitality Interior Design (Asia).

Established in 2005, the PropertyGuru Asia Property Awards continue to reward high-calibre work within the industry, encompassing property development, construction, architecture, interior design, and sustainable building practices. The series initially covered Southeast Asia and has expanded over the years to include the region’s dynamic property markets, including Australia, China, Greater Niseko in Japan, and India.

The 13th PropertyGuru Asia Property Awards (Singapore) are supported by gold sponsor Mitsubishi Electric Asia Pte Ltd.; official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; media partner d+a Magazine; and official supervisor HLB.

For more information, email [email protected] or visit the official website: AsiaPropertyAwards.com.

–END–

NOTE: Use of the PropertyGuru Asia Property Awards logo is limited to the publication of this article only.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: [email protected]   

Media & Partnerships:
Nate Dacua, Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: [email protected]

Sponsorships:
Kanittha Srithongsuk, Regional Manager, Awards Sponsorship
M: +66 93 293 9794
E: [email protected]

Sales & Nominations:
Alicia Loh, Awards Manager (Singapore)
M: +65 8382 0078
E: [email protected]

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:
PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair and transparent. 

In 2023, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2023. 

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP:
PropertyGuru is Southeast Asia’s leading¹ PropTech company, and the preferred destination for over 41 million property seekers² to connect with more than 63,000 agents³ monthly to find their dream home. PropertyGuru empowers property seekers with more than 3.2 million real estate listings⁵, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio of leading property marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance; and a host of enterprise solutions now under PropertyGuru For Business, including a high-quality developer sales enablement platform, FastKey, DataSense, ValueNet, Awards, events and publications across Asia.  

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

¹ Based on SimilarWeb data between July 2022 and December 2022.

² Based on Google Analytics data between July 2022 and December 2022.

³ Based on data between July 2022 and December 2022

⁴ Based on SimilarWeb data between July 2022 and December 2022.

⁵ Based on data between July 2022 and December 2022.

Singapore – April 26, 2023 – PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or “the Group”), Southeast Asia’s leading^[1], property technology (“PropTech”) company today announced the appointment of Helen Snowball as Chief People Officer (CPO). As the CPO, Helen will lead the People & Culture function, managing the full scope of HR functions and support the Group’s next phase of growth in Southeast Asia with a focus on employee experience and talent management. Helen is part of PropertyGuru’s Group Leadership Team (GLT) and will report to the CEO and Managing Director, Hari V. Krishnan.

Helen brings over two decades of rich experience in human resources, sales and commercial, having held various leadership roles in global organisations. Prior to joining PropertyGuru Group, Helen served as the Global Head of People Solutions & Experience at Jones Lang LaSalle in Singapore, where she led the formation of a new global employee experience function to re-imagine the future of work, implemented a new digital HR experience that enhanced productivity and business performance and drove initiatives that enhanced employee experience. Previously, she worked at Coca-Cola Euro-Pacific Partners, Australia, as the Head, HR Sales & Marketing and at Kraft Heinz Company, UK.

At PropertyGuru, Helen will provide strategic direction and expertise for all things related to team and talent, with a particular focus of taking forward the culture of trust that PropertyGuru Group aspires to deliver to its team. In addition, she will champion an equitable workplace as a driving force behind the Group’s success. Today, 50% of PropertyGuru’s GLT and 33% of its Board of Directors is composed of women leaders, and 65% of its total workforce is female. With over 30 nationalities in its workforce and strong diversity central to its success to date, the Group is emphasizing equity and inclusion in its next phase of growth.

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group, said, “We are excited to have Helen join us as our Chief People Officer. She has solid experience in leading successful transformations within People and Culture organisations and driving digital employee experiences. We are in PG3 – the third phase of our evolution as an organisation – guided by our vision to power communities to live, work and thrive in tomorrow’s cities. Helen’s skillset and energy will be essential as we continue to invest in our talent.”

Helen Snowball, Chief People Officer, PropertyGuru Group, said, “I am thrilled to join PropertyGuru Group. My focus will be to foster the amazing culture the organisation has built and enable employees to bring their best selves to work, each day. I look forward to working with the diverse and highly skilled Gurus across Southeast Asia to strengthen PropertyGuru’s position as an employer of choice for top talent.”

Helen joins PropertyGuru’s seasoned Group Leadership team, which recently welcomed Disha Goenka Das as Chief Marketing Officer, and expanded Manav Kamboj’s role to include Managing Director, Fintech, in addition to his current role of Chief Technology Officer. These strategic leadership appointments bolster PropertyGuru’s capabilities as the Group ramps up investments and innovations in its marketplaces, data and software solutions, and fintech businesses.

About PropertyGuru Group

PropertyGuru is Southeast Asia’s leading¹ PropTech company, and the preferred destination for over 41 million property seekers^[2] to connect with more than 63,000 agents^[3]  monthly to find their dream home. PropertyGuru empowers property seekers with more than 3.2 million real estate listings^[4], in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio of leading property marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance; and a host of enterprise solutions now under PropertyGuru For Business, including a high-quality developer sales enablement platform, FastKey, DataSense, ValueNet, Awards, events and publications across Asia.  

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.  

Media Contact Information:                                                 

Archetype Singapore                                                

Anushka Shrivastava / Annabell Woon                 

[email protected]

PropertyGuru Group

Sheena Chopra / Divya Ravalie Kuchimanchi

[email protected] / [email protected]

[1] In terms of Engagement Market Share based on SimilarWeb data.

[2] Based on Google Analytics data between July 2022 and December 2022.

[3] Based on data between July 2022 and December 2022.

[4]  Based on data between July 2022 and December 2022.