Square Yards Posts Stellar Revenue Feat for FY2022-23

Square Yards, India’s foremost proptech player, has confirmed revenue growth of 70% for 2022-23, posting Rs. 670.5 crore in total revenues, as compared to Rs. 395.6 crore in 2021-22. The India business contributed 77% of this tally, while the Gulf region accounted for 13%. The rest of the world also accounted for 10% of the total business of the company. Square Yards also posted 67% of growth by enabling home loans and properties of Rs. 22,870 crore in the year. 

Tanuj Shori, the CEO and Founder at Square Yards, stated that the company finished the year on a positive note with robust profitability and growth. He also mentioned how the company is now preparing to hit more than Rs. 1,000 crore in revenue with full-year profitability in 2023-24. He stated that the company should witness growth in operating leverage over the next couple of years with its focus on expanding its overall capacity with strategic investments and integrated solutions that span the entire real estate ecosystem. 

Square Yards gets 87% of its revenues from financial services and real estate, while newer categories such as home renovations, Metaverse solutions, property management, and fractional real estate are also doing well. They could become big-ticket businesses for Square Yards in FY24, based on their strong performance in the previous fiscal. The search and discovery portal of the company has also continued gaining market share, getting a whopping 8 million visitors per month, according to the company. Square Yards has raised $125 million so far in funding, with $65 million of this as debt capital and $60 million as equity.