India foremost real estate platform Square Yards (headquartered in Gurugram), has officially confirmed a whopping 33% of growth in GTV (gross transaction value) on a year-on-year basis for FY21, touching $1.1 billion. Revenues hit $50 million, witnessing 17% of growth (year-on-year) while EBITDA margins stood at 14.2%. 47% growth was clocked by the company (year-on-year) for Q4 with revenues of $17.2 million and EBITDA margins of 15.2%. This was Square Yards 6th consecutive quarter that was profitable!
Once annualized in terms of the dollar, the company has stated that it is posting $70 million in revenues with an EBITDA run rate of $10 million. Tanuj Shori, CEO & Founder, Square Yards, highlighted how this was a breakout year for the company, while indicating that the company outperformed the whole industry by more than 70% while earning considerable market share, growing all its new business divisions and touching double-digit EBITDA margins. He talked of how Square Yards remains firmly on course towards hitting $85-90 million in revenues for FY22.
Square Yards Indian division contributed 50% of total revenues with 9% coming from the mortgage division and 41% from the international real estate business. The latter witnessed GTV jumping up by an incredible 100% (year-on-year) owing to higher growth in overall market share. Square Yards also saw handsome growth in its new business divisions. With 500,000 listings, 30,000 active broker relationships and 4 million in website traffic, the marketplace listings platform saw substantial growth for the period. Rentals hit 350+ transactions each month while 1500+ homes were acquired by Property Management Services. The Home Furnishings/Interiors business took off with $500,000 in revenues within only two months of its launch. Enterprise SaaS revenue also touched a handsome $100,000 monthly run rate in this time.
For building and bolstering its real estate ecosystem, Square Yards acquired PropVR, Azuro and PropsAMC recently. PropsAMC is a market leader in asset management and data intelligence while PropVR offers immersive digital real estate experiences on its AI-based platform courtesy of VR, AR and 3D. Azuro is a market leader in property management and rentals in India.
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.