Square Yards, India’s largest integrated real estate platform, has reported a 52% year-on-year revenue increase in Q1 FY25. The company’s revenue from operations amounted to ₹261 crore for the first quarter of the ongoing financial year. This result signifies over 50% year-on-year growth for the 12th time in the past 13 quarters. Emphasising Q1’s contributions to the overall business, Tanuj Shori, the founder and CEO of Square Yards, remarked, “Q1 has consistently contributed 16-18% of our overall revenue, and based on this trend, we project revenue for FY25 to align with our forecast of ₹1,506 crore (USD 180 million).” The UAE-based company’s revenue for FY24 was ₹1,004 crore.
Gross Profit for the first quarter of Q1 FY25 stood at ₹ 25 crore, recording a 66% increase and an 80 basis point improvement. “We anticipate maintaining gross margins above 25% and EBITDA margins around 7% at the corporate level. Overall, we have been on track for over 50% growth this fiscal year, targeting revenue that reflects a robust four-year CAGR of 50%. More importantly, we expect to remain EBITDA and operating cash flow positive throughout the year.”
The real estate platform’s Gross Transaction Value (GTV) also registered a 51% year-on-year increase for Q1 FY25. In addition, a 40% growth in its order books reflects steady and speedy business growth. The real estate giant continued its successful run from the last year:
| Parameter | Q1 FY25 | Q1 FY 24 |
| Total Revenue | ₹ 261 Crore | ₹ 172 Crore |
| Gross Profit | ₹ 25 Crore | ₹ 15 Crore |
| Gross Transaction Value | ₹ 10,053 crore | ₹ 6,674 crore |
| EBITDA Margin | ₹ 32 crore (negative) | ₹ 29 crore (negative) |
Sector Wise Development
The company’s real estate services grew by 48%, financial services by 61% and digital services by 145% on a Y-o-Y basis. Urban Money, the company’s financial arm, continues to be its leading performer. Economic and real estate services amounted to roughly 90% of the company’s revenue. Square Yards’ Total Group Revenues amounted to $31 million, of which 83% were contributions from India ($26 million). India’s business further recorded a 49% growth, reaching ₹217 crore.
Order bookings for Square Yards also increased by 33%. The company’s strong performance across multiple sectors has positioned it for stable and consistent future growth. In addition to its revenue growth, the proptech company is committed to achieving EBITDA positivity and generating positive operating cash flow.
About Square Yards
Square Yards is India’s largest integrated platform for Real Estate and Mortgages. Its unified real estate services include property search, interiors, home loans, property management, rentals, and more. Square Yards is also one of the world’s fastest-growing proptech brands. The company has successfully used Data Analytics and VR Tools to offer distinguished customer services. Intending to revolutionise the real estate market, Square Yards aims to build India’s first MLS system.
Presently, the company is in 9 countries and over 100 Indian cities. It features monthly traffic of over 8 million and an Annual Gross Transaction Value of more than $5 billion. Some of its other B2C subsidiaries include Square Capital, Interior Company, Azuro, PropVR and PropsAMC.
Read more through the links below to uncover the key trends and market leaders driving this growth:
The Economic Times – https://bit.ly/3ZawZa7
Business Standard – https://bit.ly/3AXprgI
Entrackr – https://bit.ly/3XuaJqD
Rediff.com – https://bit.ly/4cQtGrC
Devdiscourse – https://bit.ly/3Z8athY
Published Date: 28 Aug, 2024
