Square Yards is now clocking USD 70 million revenue and USD 10 million EBITDA run rate.
Square Yards, India’s largest integrated real estate platform, declared its full financial year FY21 results with INR 350 crore revenue, up 17% Y-o-Y and EBITDA of INR 50 crore. The Gross Transaction Value (GTV) stood at INR 8112 crore up 33% Y-o-Y.
The company registered its sixth consecutive profitable quarter in Q4, clocking a revenue of INR 123 crore, a 47% Y-o-Y increase for the quarter with INR 15.2 crore in EBITDA margins. Annualizing last quarter in dollar terms, Square Yards is now clocking USD 70 million revenue and USD 10 million EBITDA run rate.
Tanuj Shori, Founder and CEO, Square Yards said “This has been a breakout year for us where we were able to outperform the property industry by more than 70% and win substantial market share with double digit EBITDA margins. All the new business segments have started showing strong traction and we are on track to deliver US$85-90mn revenue in FY22.”
Indian real estate operations contributed 50% to the overall revenue, while 41% came from international business and rest 9% from mortgage business. Global real estate segment of witnessed its GTV jump 100% Y-o-Y to INR 2914 crore, led by a higher increase in market share.
Square Yards witnessed significant traction in the new business segments with marketplace listings platform scaling to reach 500k+ listings, 4mn+ website traffic and 30k+ active broker relationships. Rentals touched 350+ monthly transactions, while Property Management Services acquired 1500+ homes. The Interiors/Home furnishing arm registered USD500k revenue in just 2 months of launch, while Enterprise SaaS revenue hit USD100k monthly run rate.