Sunday, February 9, 2025

Square Yards growth and profitability surge in Q3 FY2025; on track for a strong finish to financial year

Square Yards, India’s largest integrated real estate platform, today announced its Q3′ FY25 results continuing its upward trajectory, marked by 45% year-on-year (Y-Y) revenue growth and a return to profitability with INR 22cr EBITDA (6% margin). Revenue for the quarter stood at Rs 358.6cr and Gross Transaction Value (GTV) stood at Rs 16,271 Cr, up 54% Y-o-Y. With this, company’s 9M revenue for FY24 now stands at Rs 938.4 Cr up 46% Y-Y.

Tanuj Shori, Founder & CEO of Square Yards, expressed his enthusiasm for the company’s progress: “This would mark our 2nd consecutive year of profitability, andfirst year of operating cash flow break even. We expect to close at USD 170mn+ revenue for FY that would put us at more than 3x the size of any other proptech platform in the country (and the only profitable platform). It would also entail a ~55% CAGR over the last 4 years. We also expect operating leverage to continue to increase, with next FY to be in the range of 15% EBITDA margins. 

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Key Achievements in Q3FY25

Square Yards demonstrated impressive growth across all key metrics in Q3FY25. Gross Transaction Value (GTV) grew by 54% for the quarter and 52% for the first nine months of the fiscal year, driven by a healthy 44% year-on-year increase in the order book. Overall revenue for the 9M FY25 period surged 46% year-on-year, with revenue from the India business growing even faster at 50%. Gross profit for Q3 reached INR 90 crore, representing a 25% gross margin, while EBITDA stood at INR 22 crore, reflecting a 6% margin. Financial services led the company’s growth with a 58% year-on-year jump, supported by fintech platform Urban Money, which is expected to close the year with USD 5.5 billion in GTV. Real estate recorded a 41% year-on-year rise in the order book, and the home renovations platform maintained its upward momentum with over 50% year-on-year growth. With strong fundamentals and diversified growth across its core verticals, the company is well-positioned to maintain its leadership in the proptech industry.

About Square Yards

Square Yards is India’s largest Integrated real estate marketplace, with category leadership presence across multiple touchpoints of consumer home ownership journey. With Urbanisation and rising disposable incomes as the core theme, Square Yards is the largest and asset light proxy play to the growing residential demand story of India. One of the few Indian start-ups to taste global success with presence in 100+ cities across 9 countries, Square Yards is at the forefront of tech adoption in the sector, with multiple patents across VR/AI domains.

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