Gurugram-based real estate platform Square Yards has concluded FY21 on a strong note with revenues of $50 million, indicating growth of 17% (year on year) and EBITDA margins of 14.2%. The GTV (gross transaction value) for the platform touched $1.1 billion, growing by a whopping 33% (year on year). Square Yards has confirmed this as the 6th profitable quarter in succession, i.e. Q4 with $17.2 million in revenues, 47% year on year growth for the quarter and EBITDA margins of 15.2%.
Square Yards has annualized the previous quarter in dollar terms, thereby posting $10 million EBITDA run rate and $70 million in revenues. CEO and Founder at Square Yards, Tanuj Shori, stated that FY21 has been a breakout year for the company and it has exceed performance of the real estate industry by more than 70% while earning considerable market share and achieving EBITDA margins in double digits. He talked of how all new business divisions are witnessing sizable traction with the company on course towards generating $85-90 million in revenues for FY22.
Square Yards has confirmed that 50% has been contributed to total revenues by the Indian real estate division while 41% has come from international business. 9% has been contributed by its mortgage division. The international realty segment witnessed GTV increasing by 100% (year on year), spurred by higher growth in overall market share. Square Yards also found sizable traction for its new business categories with its marketplace listings platform growing to touch 500,000 listings and 4 million website traffic along with creating 30,000 active broker relationships. Rentals scaled to more than 350 monthly transactions while 1,500+ homes were acquired by Property Management Services. Its Interiors/Home Furnishings division saw revenues of $500,000 within only two months of launch while $100,000 in monthly run rate was achieved by Enterprise SaaS revenue.
Square Yards has been creating a whole ecosystem of solutions and services throughout the entire property value chain. The company recently acquired three entities, namely PropsAMC, a leader in asset management and data intelligence, Azuro, one of the biggest Indian platforms for property management and rentals and also PropVR which specializes in building immersive digital real estate experiences courtesy of its AI-based platform and with the usage of VR, 3D and AR.
For a detailed report on this read the articles we were featured in:
The Economic Times: https://bit.ly/2RGw8xb
Khaleej Times: https://bit.ly/2RMmvgq
Published Date: May 11, 2021