Square Yards, the pioneering Gurugram-based real estate platform, has finished FY21 with a big bang! The company notched up $17.2 million in revenues for Q4 which is its 6th consecutive profitable quarter along with hitting 15.2% in EBITDA margins. For the fiscal, it achieved a handsome $50 million in revenues indicating 17% growth (year on year) and also 14.2% in EBITDA margins. GTV (gross transaction value) touched a considerable $1.1 billion, witnessing 33% of year on year growth. For Q4, the results showed growth of 47% (year on year) while annualizing the same, revenues touched $70 million with a $10 million EBITDA run rate.
Tanuj Shori, Founder and CEO at Square Yards, called it a successful and breakout year for Square Yards which outperformed the entire property industry by 70%+ while also winning sizable market share and accomplishing double digit EBITDA figures at the same time. He also highlighted how new business categories are already showing strong results for Square Yards which remains firmly on track towards delivering revenues of $85-90 million for FY22.
Real estate operations in India accounted for 50% of total revenues with 41% coming from the international real estate business, driven by a 100% jump in gross transaction value (GTV) owing to higher market share. 9% came from the mortgage business as well.
All new business segments did increasingly well; Rentals grew to more than 350 transactions a month while the interiors/home furnishing business saw $500,000 in revenues within just two months post launch. Enterprise SaaS revenues touched a monthly run rate of $100,000 while the Property Management Services division acquired more than 1,500 homes. The platform for marketplace listings scaled up to a whopping 4 million website traffic count, 500,000 listings and 30,000 active broker relationships. To further its ecosystem of real estate solutions, Square Yards has recently acquired PropVR, Azuro and PropsAMC. These are all market leaders in fields like property management, rentals, AI-based immersive digital real estate (based upon AR, VR and 3D), data intelligence and related sectors.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.