Square Yards, a well-known real estate firm, has reported an EBITDA profit of INR 22 crore for the third quarter of the financial year 2025. The overall revenue for the same time period is INR 358.6 crores, with a 45% Y-o-Y growth. With these earnings, the company’s total 9-month revenue for the 2024 financial year has reached INR 938.4 crores. These figures highlight an impressive 46% year-on-year growth, reinforcing the ongoing upward trend in demand for real estate properties. Especially in India, where the firm’s revenue grew faster than 50%.
Tanuj Shori, the founder and CEO of Square Yards, recently stated that the firm expects to close the annual revenue at over USD 170 million. This will position the firm at more than three times the size of any other proptech platform in the country, while remaining the only profitable company in its field. He announced, “This would mark our 2nd consecutive year of profitability and the first year of operating cash flow break-even.”
Shori remarked, “This achievement would also reflect a 55% CAGR over the last 4 years. Additionally, we anticipate operating leverage to continue improving, with the next FY projected to achieve EBITDA margins in the range of 15%.” The Gross Transaction Value (GTV) for the quarter made an impressive 54% Y-o-Y jump, reaching up to INR 16,271 crores.
This is 2% higher than the overall GTV growth witnessed in the first 9 months of FY 2024. According to the order book, these stats account for a 44% year-on-year growth. The third quarter of this financial year was a big one, with gross profit reaching INR 90 crores, with a margin of 6% and a gross margin of 25%. The EBITDA for the period amounted to ₹22 crore.
Square Yards’ impressive 58% growth in performance was fueled by its fintech platform, Urban Money, which is expected to wrap up the year with a GTV of USD 5.5 billion. The company seems likely to continue this upward trajectory of revenue and GTV next year as well. This is attributed to a 41% growth in the order book for real estate properties and a 50% increase in demand for home renovations.
Read more through the links below to uncover the key trends and market leaders driving this growth:
Business Standard– https://bit.ly/42uquRf
The Economic Times– https://bit.ly/4aDBqhp
The Week– https://bit.ly/4hAiP85
Realty & More– https://bit.ly/42wIsCq
Realty+ – https://bit.ly/40yVn4q
Press Trust of India – PTI- https://bit.ly/40zLhjC
Published Date: 28 Jan, 2025
