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Square Yards Q2 Revenue Up 60% To Rs 225 Cr; 12-Mth Revenue Crosses $100mn 

New Delhi, October 18, 2023: Square Yards, on Wednesday announced its Q2, FY24 results clocking Rs 225 Cr revenue, up 60% Y-o-Y. The Gross Transaction Value (GTV) stood at Rs 9169 Cr, up 77% Y-o-Y, while number of transactions grew 143% to Rs 40,757. 

With this, 1H revenue for FY24 now stands at Rs 398 Cr (~USD50mn) and GAAP revenue crossed USD100mn on a Trailing Twelve Months (TTM) basis putting the company firmly on track for Rs 1000 Cr+ year as 2H is normally 60% of full financial year because of seasonality factor in Real estate.

“The continued growth with improvement in economics is testament to ecosystem build up strategy. With this we have become first proptech player to cross USD 100mn milestone. However we believe its still day 0 and with the sector tailwinds, we continue to push the boundaries” said Tanuj Shori, Founder and CEO, Square Yards.

Financial Services with a run rate ~USD300mn loan disbursals/month continued to drive growth metrics for Square Yards. 

Square Yards’ search and discovery portal continued to gain market share with average traffic at ~8mn+ visitors/month with 50%+ growth in organic traffic.