Square Yards Growth, Profitability Surge in Third Quarter of FY2025

New Delhi, January 28, 2025: Integrated real estate platform Square Yards continues its upward trajectory, marked by 45 per cent year-on-year (YoY) revenue growth and a return to profitability with INR 22 crore EBITDA (6 per cent margin) in its Q3 FY25 results. Revenue for the quarter stood at INR 358.6 crore and Gross Transaction Value (GTV) stood at INR 16,271 Cr, up 54 per cent YoY. With this, company’s 9M revenue for FY24 now stands at INR 938.4 crore, up 46 per cent YoY.

Tanuj Shori, Founder & CEO of Square Yards, expressed his enthusiasm for the company’s progress: “This would mark our 2nd consecutive year of profitability, and first year of operating cash flow break even. We expect to close at $170 million plus 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 per cent 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 per cent EBITDA margins.

Highlights of Q3FY25

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

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