Square Yards ends FY21 with Rs 350 Cr revenue and Rs 50Cr EBITDA; Q4 revenues up 47% at Rs 123 Cr
by Shrutee K/DNS
New Delhi, May , 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.
About:Square Yards is India’s largest integrated platform for Real Estate & Mortgages and one of the fastest growing Proptech platform in Middle East, Australia & Canada. Square Yards offers an integrated consumer experience & covers the full stack real-estate journey from search & discovery, transactions, mortgages, interiors, rentals, property management and post-sales services. Its’ enterprise solutions cater to all stakeholders in the real estate value chain like agents, real estate developers and banks. This alliance is expected to add significant value to Square Yards’ B2C and B2B stakeholders and mark the company’s entry into the data intelligence domain. Globally the real estate data intelligence space is dominated by companies like Costar & Corelogic that have become multi-billion dollar businesses over the past few years as the housing market participants, including consumers, real estate agents, developers, banks and other entities need, more than ever, greater data insights and better tools to make decisions.