Magicbricks CEO Sudhir Pai resigns after 15 years: Report

Sudhir Pai has resigned as chief executive of Magicbricks after more than 15 years at the helm of the Times Internet-owned property portal, according to an exclusive report by Inc42.

Inc42 reported that Pai tendered his resignation and informed employees through an internal email. “The last 15 years at MB have been frenetic and I’ve never had time to think for myself; I intend to reflect/recalibrate,” Pai wrote, adding that the company was at a “stable juncture” with a full leadership team in place.

Pai declined to comment to Inc42 on his resignation, while Magicbricks did not respond to the publication’s queries.

As of Thursday morning, Pai’s LinkedIn profile continued to list him as Chief Executive Officer at Magicbricks (Jan 2011–Present).

Pai has led Magicbricks since 2011. Under his tenure, the company expanded beyond a pure-play listings marketplace towards a broader full-stack proptech model, investing in software-led solutions to support discovery, sales enablement and broker productivity.

His reported departure comes as the company accelerates acquisitions to bolster growth. In December 2024, Magicbricks acquired PropViz to integrate 3D visualisation features such as virtual walkthroughs and interactive tours. Earlier, it bought AI-powered CRM platform ReadPro to provide brokers with more efficient tools to replace manual workflows.

In October last year, Pai told Business Standard that Magicbricks had been profitable for four consecutive years and was evaluating an initial public offering within two to three years.

Founded in 2006, Magicbricks operates a marketplace for buying, selling and renting residential and commercial property. It competes with NoBroker, 99acres and Housing.com. The company is a wholly owned subsidiary of Times Internet, the digital arm of Bennett, Coleman and Co Ltd.

Times Internet has streamlined its portfolio in recent years. In 2024, it sold MX Player to Amazon and divested ET Money to wealth management firm 360 One.

The timing of Pai’s exit raises questions about succession planning and the company’s next phase, particularly as consolidation gathers pace in India’s proptech sector and Magicbricks weighs a potential public listing.