BY Staff Reporter
New Delhi, 27th May 2021: Square Yards, India’s largest integrated real estate platform, announced that it has launched a new platform offering Home furnishing and home interior services. The subsidiary called “Interior Company” has already setup offices in Bangalore, Mumbai, and Delhi-NCR and is looking to scale operations pan India and Middle East, and build an integrated technology platform for end to end interiors design & execution.
Commenting on the launch, Tanuj Shori, Founder & CEO of Square Yards said, “We always had very strong demand signals for interior services from our existing ecosystem of real estate customers, some of the country’s top developers and a 200,000+ strong broker network. We decided to build this capability inhouse with the same ethos and building blocks of a startup like Square Yards. Within just 2 months of the beta launch, it is clocking over $0.5mn of monthly revenue run rate. With strong vendor partnerships and powerful tech integrations, we aim to emerge as a formidable player in this space within the first 12 months of operations.”
Interior Company will initially focus on new home buyers in the primary real estate segment who simply want beautiful interiors at an affordable cost but typically get a painful experience. It is building standardized and modular solutions for near-possession and ready to move inventory in some of top developer projects across major metro cities.
The company is investing in building an integrated tech platform that provides high quality 3D visualization of spaces with immersive VR experience, allowing customers to literally experience the final product with a “What you see is What you get” assurance. The platform further includes end-to-end designer workbench, auto bill of material generation, order and logistics management with vendors, thereby giving real time status updates of their project to the customer and a complete peace of mind around timely delivery.
Square Yards had recently declared its full financial year FY21 results with Rs 350 Cr revenue and EBITDA of Rs 50 Cr. In addition to its primary real estate brokerage business, its’ new business segments have started showing strong traction and are on track to deliver strong revenue in FY22. 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.