India\u2019s foremost property and home loan brokerage platform Square Yards has officially reported steady growth in gross profits for the September quarter. Profits went up by a handsome 14% for Q2 FY2020-21, touching Rs. 26.5 crore in all. Gross profit touched Rs. 23.2 crore in the year-ago period as per reports. Revenues, however, came down by 8% to stand at Rs. 69.4% for the second quarter. They stood at Rs. 75.5 crore in the year-ago period as per the company. <\/p>\n
Out of overall revenues, 94% was derived from the real estate business while the remainder came from the mortgage division. Sale of properties situated outside India and particularly in the Gulf region, accounted for a whopping 47% of overall revenues. Close to 14% of income for the company was derived from the sale of properties in India to NRIs (non-resident Indians). GTV (gross transaction value) went up by 5% to touch Rs. 1,537.9 crore in the period between July and September, 2020. This was considerably higher than Rs. 1,470.3 crore achieved in the year-ago period. <\/p>\n
In the first 6 months of FY2020-21, gross profits went up by a whopping 58% for Square Yards to stand at Rs. 54.2 crore as compared to Rs. 34.3 crore in the year-ago period. Revenues went up to Rs. 136.4 crore, indicating growth of 1% in the period between April and September, 2020. The figures for the same period last year stood at Rs. 135 crore. GTV increased by 8% to touch a whopping Rs. 2,892.3 crore in comparison to the year-ago figures of Rs. 2,673.8 crore. <\/p>\n
Founder and CEO at Square Yards, Tanuj Shori, stated that revenues should expectedly touch Rs. 320 crore for the current fiscal. Total revenues increased for Square Yards in FY2019-20 and touched Rs. 298 crore as compared to Rs. 220 crore achieved for the preceding financial year. Square Yards has raised $50 million in equity till date and more than $25 million by way of debt financing ever since its inception in the year 2014.<\/p>\n
For a detailed report on this read the articles we were featured in:<\/strong><\/p>\n The Hindu \u2013 <\/a> Published Date: 16 November 2020<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" India\u2019s foremost property and home loan brokerage platform Square Yards has officially reported steady growth in gross profits for the September quarter. Profits went up by a handsome 14% for Q2 FY2020-21, touching Rs. 26.5 crore in all. Gross profit touched Rs. 23.2 crore in the year-ago period as per reports. Revenues, however, came down […]<\/p>\n","protected":false},"author":11,"featured_media":24575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[234],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/24571"}],"collection":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/comments?post=24571"}],"version-history":[{"count":7,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/24571\/revisions"}],"predecessor-version":[{"id":65441,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/24571\/revisions\/65441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media\/24575"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media?parent=24571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/categories?post=24571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The Economic Times \u2013 <\/a>
Outlook India \u2013 <\/a><\/p>\n