Business

Square Yards ends FY21 with $50m revenue


Last updated on May 11, 2021 at 04.39 pm
Read more...

Square Yards, India’s largest integrated real estate platform today declared its full financial year results with $50 million revenue, up 17 per cent year on year and EBITDA margins of 14.2 per cent. The Gross Transaction Value (GTV) stood at $1.1 billion up 33 per cent year on year.

The company registered its sixth consecutive profitable quarter in Q4, clocking a revenue of $17.2 million , a 47 per cent year on year increase for the quarter with 15.2 per cent in EBITDA margins. Annualising last quarter in dollar terms, Square Yards is now clocking $70 million revenue and $10 million EBITDA run rate.

Tanuj Shori, founder and CEO, Square Yards said: “This has been a breakout year for us where we were able to outperform the property industry by more than 70 per cent and win substantial market share with double digit EBITDA margins. All the new business segments have started showing strong traction and we are on track to deliver $85-90 million revenue in fiscal year 2022.”

Indian real estate operations contributed 50 per cent to the overall revenue, while 41 per cent came from international business and rest nine per cent from mortgage business. Global real estate segment of witnessed its GTV jump 100 per cent Y-o-Y, led by a higher increase in market share.

Square Yards witnessed significant traction in the new business segments with marketplace listings platform scaling to reach 500k+ listings, 4 million plus website traffic and 30k+ active broker relationships.

Rentals touched 350+ monthly transactions, while Property Management Services acquired 1500+ homes. The Interiors/Home furnishing arm registered $500k revenue in just 2 months of launch, while Enterprise SaaS revenue hit $100k monthly run rate.

Square Yards has been building an ecosystem of services across the real estate value chain. It has acquired three companies recently – PropVR, PropsAMC and Azuro. PropVR is an AI based platform specialising in creating immersive digital property experiences using 3D, VR & AR.

PropsAMC is a leader in data intelligence and asset management while Azuro is the largest rentals and property management platforms in India. With the launch of the interior design platform, Square Yards offers an integrated consumer experience and covers the full stack real-estate journey from search and discovery, transactions, mortgages, home interiors, rentals, property management and post-sales services.

— sandhya@khaleejtimes.com