It was a moment of pride and exhilaration, a spectacle that made our hearts swell with pride, when top developer EMAAR felicitated SQUARE YARDS with a grand illumination of its brand name atop the iconic Burj Khalifa, the world’s largest skyscraper.
EMAAR had a fruitful business relationship with Square Yards, clocking an industry-leading revenue for the global real estate property developer.
Elated by this prestigious honour, Tanuj Shori, our Founder and CEO reiterated,” It is a memorable moment for us. Our little precious start-up, which now employs over 3,000 people has expanded its footprint to 9 countries in such a short span of time. Also noteworthy is that every new market we enter, we raise the entire home-buying-experience bar. EMAAR’s recognition of this fact with such an iconic message reiterates the fact that all stakeholders in the Real Estate value chain trust Square Yards’ business playbook. We are deeply grateful to EMAAR for this show of faith. Both EMAAR and Dubai have constantly been in our top 3 markets and developers list respectively and we feel that they will remain our top priorities for a long time.”
Beating real estate market hurdles year on year, Square Yards has posted industry leading growth figures so far in this fiscal as well. At current levels, the startup’s annual Gross Transactional Value (GTV) should exceed USD 1 bn while its annual revenue should be north of USD 45 mn.
The start-up has also turned profitable, a quality that has over time become increasingly dear to the investor fraternity worldwide. Square Yards looks at the gulf region seriously in an effort to increase its market share and has been investing heavily in people and technology to ramp up its operations in this geography.
During Q3 of FY20, Indian real estate operations contributed 65% to Square Yards’ overall revenue, 24% came from international business operations, while the remaining 11% was generated by its mortgage arm, Square Capital. With 75% growth, Square Yards’ international markets and mortgage teams have had their best revenue quarter till date. On the principal side, top rated developers like EMAAR, WTC, Godrej and Gaur continued to be major bestsellers at Square Yards.