India’s foremost real estate brokerage platform Square Yards has officially announced its foray into the home interiors and furnishing sector as part of its blueprint towards offering full-stack solutions to customers.
Square Yards touched revenues of Rs. 350 crore for FY2020-21 and has established its subsidiary entity named Interior Company for venturing into this new market category. The company has launched its new platform that offers these interior and furnishing services for homes as per its latest statement.
The new subsidiary has already established its offices in Mumbai, Bengaluru and Delhi-NCR and is seeking to scale up its operations throughout the country and also in the Middle East with a view towards creating an integrated platform that provides home interior and furnishing solutions. The Founder & Chief Executive Officer at Square Yards, Tanuj Shori, stated that the company always witnessed indicators of strong demand for interior and furnishings solutions from existing customers and some of India’s foremost developers along with the network of 200,000+ brokers. He also confirmed that the company has built the entire capacity for these solutions in-house and within only 2 months from the beta launch, Shori confirmed that it had posted more than $0.5 million in monthly revenue run rate.
The company is now aiming at becoming a leading player in this category within its first 12 months of functioning. Interior Company will be initially emphasizing upon buyers of new homes in the primary real estate category. It is creating modular and standardized solutions for projects nearing possession along with ready to move in properties in some of the leading projects by developers throughout key metro cities. Square Yards is already offering a wide range of solutions through its platforms including transactions, search and discovery, home interiors, mortgages, property management, rentals and after-sales services. Square Yards has posted increase in revenues of 17% at Rs. 348.8 crore in the last fiscal year. This touched Rs. 298.2 crore for FY2019-20. Real estate operations in India contributed 50% to overall revenues at Square Yards while 41% came from global business and 9% came from the mortgage business.
For a detailed report on this read the articles we were featured in:
The Economic Times – https://bit.ly/3uyyWtP
moneycontrol.com – https://bit.ly/2SEcBOc
Outlookindia – https://bit.ly/3i0WxB4
Construction Week Online – https://bit.ly/3wJjY63
Your Story – https://bit.ly/3yLtpU3
BW Businessworld – https://bit.ly/3fq6zdg
Published Date: May 27, 2021
