Square Yards, the Gurugram-based integrated real estate platform, has achieved remarkable success under the leadership of its visionary CEO, Tanuj Shori. The company recently announced its FY21 results, reporting $50 million in revenue, marking a 17 percent year-on-year increase. Additionally, Square Yards achieved EBITDA margins of 14.2 percent, demonstrating its financial strength and profitability. One of the standout achievements of Square Yards in FY21 was the gross transaction value (GTV) reaching an impressive $1.1 billion, reflecting a substantial 33 percent year-on-year growth. Notably, the company marked its sixth consecutive profitable quarter in Q4, achieving a revenue of $17.2 million, representing a remarkable 47 percent year-on-year increase for the quarter, with EBITDA margins reaching 15.2 percent.
In annualizing the last quarter’s performance in dollar terms, Square Yards now claims a revenue run rate of $70 million and an EBITDA run rate of $10 million.
A Breakout Year for Square Yards:
Tanuj Shori, the Founder and CEO of Square Yards, expressed his enthusiasm about the company’s performance in FY21, characterizing it as a “breakout year.” Square Yards not only outperformed the property industry by over 70 percent but also gained substantial market share, all while maintaining double-digit EBITDA margins. Shori further outlined Square Yards’ ambitious growth projections, with expectations of achieving $85-90 million in revenue for FY22. These figures underscore the company’s growth momentum and its ability to continue delivering impressive results.
Diverse Revenue Streams and Strong Market Presence:
Square Yards derives its revenue from diverse sources, with Indian real estate operations contributing 50 percent to its overall revenue. An additional 41 percent comes from international business, while the remaining 9 percent is generated by the mortgage business. The company’s global real estate segment has experienced rapid growth, with GTV soaring by 100 percent year-on-year, a testament to its increasing market share. Square Yards has also made significant strides in its new business segments: Marketplace Listings Platform: Scaling to encompass 500,000 listings, attracting 4 million website visitors, and establishing 30,000 active broker relationships.
- Rentals: Achieving 350+ monthly transactions.
- Property Management Services: Acquiring more than 1,500 homes.
- Interiors/Home Furnishing: Generating $500,000 in revenue within just two months of launch.
- Enterprise SaaS: Reaching $100,000 in monthly revenue.
Square Yards has strategically expanded its service offerings across the real estate value chain, acquiring three companies—PropVR, PropsAMC, and Azuro. PropVR specializes in creating immersive digital property experiences using AI-based technologies like 3D, VR, and AR. PropsAMC is a leader in data intelligence and asset management, while Azuro is the largest rentals and property management platform in India. Under the dynamic leadership of Tanuj Shori, Square Yards has emerged as a force to be reckoned with in the real estate sector, continually innovating and expanding its reach. The company’s impressive FY21 results and its ambitious growth plans for FY22 solidify its position as a key player in India’s real estate landscape.