By Staff Reporter
New Delhi, May 10, 2021: Square Yards, India’s largest integrated real estate platform today declared its full financial year FY21 results with Rs 350 Cr revenue, up 17% Y-o-Y and EBITDA of Rs 50 Cr. The Gross Transaction Value (GTV) stood at Rs 8112 Crs up 33% Y-o-Y.
The company registered its sixth consecutive profitable quarter in Q4, clocking a revenue of Rs 123 Crore, a 47% Y-o-Y increase for the quarter with Rs 15.2Cr in EBITDA margins. Annualizing last quarter in dollar terms, Square Yards is now clocking USD 70mn revenue and USD 10mn 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% 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 US$85-90mn revenue in FY22.”
Indian real estate operations contributed 50% to the overall revenue, while 41% came from international business and rest 9% from mortgage business. Global real estate segment of witnessed its GTV jump 100% Y-o-Y to INR 2914 Crore, 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, 4mn+ 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 USD500k revenue in just 2 months of launch, while Enterprise SaaS revenue hit USD100k 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 specializing 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 is one of the few real estate platforms globally that offers an integrated consumer experience & covers the full stack real-estate journey from search & discovery, transactions, mortgages, home interiors, rentals, property management and post-sales services.