Long before the era of global lockdowns, organizations had been transforming value chains and processes through technology products and global distribution networks to shield their business models and sustain from the downturn. India’s largest real estate platform, Square Yards has been diligently working to position itself across the ecosystem and diversifying its roots across locations, target segments and products to help leverage the synergies.
Square Yards backed by technology and a large global distribution footprint, has not only been able to continue its strong sales momentum through the current crisis but has also set outstanding record by achieving highest monthly transaction numbers amid the Lockdown. The prop-tech startup successfully sold over ~3100+ units online, worth INR ~1600+ crore, during the lockdown period. Its market share of various top developers’ distribution portfolios has exponentially moved from 5-20% to 60-70% over the last 3 months; while the overall market share has moved up from ~3% to ~15-18%.
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Square Yards since its inception has witnessed exponential growth and within the first few years became India’s largest Digital Real Estate brokerage and mortgage marketplace. Square Yards today ranks as a top 20 consumer tech start-ups in India in terms of GTV (~USD1bn+), top 50 in terms of revenue (~USD45mn) and is one of few Indian start-ups which has successfully expanded globally across 9 countries.
The proptech start-up was recently featured in the Financial Times ranking of 500 High Growth companies in APAC and among the top 50 Fastest Growing Companies in India by Economic Times – Statista.
Square Yards’ tech, uses a combination of search and discovery tools like heatmaps, recommendation engines, advanced 3D visual aids, virtual sales offices in mobile apps, bird’s eye views of neighbourhoods, enabling real estate sales personnel to easily conduct property showings remotely through integrated video conferencing.
On the transaction front, Square Yards facilitate fully secured online payment gateways that make bookings and future instalment payments more secure, while digital signatures, enabled on all soft legal Property ownership paperwork make the process easier than conventional sales.
Square Yards continues to work hard and position itself as a leader in consolidating this fragmented market through technology, passion and a core philosophy of action over ideas.
Published Date: 11th Jun 2020
