Square Yards Posts INR 261 Revenue, Registers 52% Y-o-Y Revenue Growth in Q1 FY25

India’s largest integrated platform for Real Estate and Mortgages, Square Yards, has entered the tenth year of its operations with soaring success. The company reported a total revenue of 261 Crore for Q1 FY25, marking a 52% year-on-year increase. Square Yards’ founder and CEO, Tanuj Shori, highlighted the importance of the first quarter in the company’s annual growth. “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 Rs 1,506 crore (USD 180 million)”, he remarked. The company has seen over 50% growth in 12 of the last 13 quarters. Square Yards’ revenue for the previous financial year amounted to Rs. 1,004 crore. 

In addition to total revenue, the proptech firm also recorded a 66% surge in its gross profits, which amounted to Rs 25 crore for Q1 FY25. An 80 basis point improvement accompanied this surge. Moreover, the Gross Transaction Value (GTV) also recorded a 51% year-on-year increase, while the order books grew by 40% during the same period. 

“We anticipate maintaining gross margins above 25% and EBITDA margins around 7% at the corporate level. Overall, we remain 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”, added CEO Tanuj Shori. 

The real-estate giant outperformed its Q1 performance compared to the last fiscal year. Here is a side-by-side comparison of the first quarters of the previous two fiscal years:

Segment-Wise Performance

In Q1 FY25, Square Yards' digital services grew by 145%, financial services by 61% and real estate services by 48% year-on-year. Order booking increased by an impressive 33%. Urban Money, the company’s financial arm, emerged as the biggest contributor to its business growth. The economic and real estate services comprise 90% of the overall business. 

The tech-based real estate firm showcased positive developments across multiple segments. Its Total Group Revenues amounted to $31 million. 83% of the Total Group Revenues, i.e. $26 million, came from the Indian market alone. India operations further noted a standalone 49% growth of Rs 217 crore. Square Yards’ consistent quarterly rise has put it in a strong position for long-term growth. With an impressive start to the year, it is well on its way to achieving this year’s annual targets. 

About Square Yards

Square Yards is India’s largest integrated platform for Real Estate and Mortgages, with a presence in nine countries and over 100 Indian cities. Its services include property search, home loans, interior design, property rentals, property management, and more. It is also the country’s leading proptech brand, with numerous AI/VR patents. The company aims to build India’s first MLS system using Data Analytics and VR technology. 

Square Yards has a network of over 2,000 developers and 100,000 customers. Its other B2C brands include Azuro, Interior Company, Square Capital, PropsAMC and PropVR. With a monthly traffic of 8 million+ and GTV of over US $5 billion, Square Yards stands at the forefront of India’s real estate revolution.