IPO · Financial Services

Square Yards plans $250-300 Mn IPO

What they do

Square Yards is a real estate brokerage and fintech platform

It plans an IPO of $250-300 Mn and targets listing by 2027-28

The company reported ₹2,086 Cr revenue in FY26 with positive EBITDA

Square Yards is planning an IPO of $250-300 Mn.
The company is appointing bankers and targeting a listing by 2027-28.
CFO Piyush Bothra said the company is in a formidable position to go public by next year.
Square Yards has raised over $114 Mn from Reliance Group, ADM Capital, and BCCL.
It also raised $35 Mn from Smilegate VC at a pre-money valuation of $900 Mn.
The company reported FY26 revenue of ₹2,086 Cr, up 48% year-on-year.
It posted positive EBITDA of ₹176 Cr for six consecutive quarters of operational profitability.

The IPO will help Square Yards raise capital for expansion and reduce dependence on debt.
Its fintech arm Urban Money contributed ~60% of total revenue in FY26.
The company competes with NoBroker, MagicBricks, and 99acres.
Square Yards targets ~40% top-line growth next year and aims to double EBITDA margin from 8%.

Square Yards is a real estate brokerage and fintech platform founded in 2014.
Its fintech arm Urban Money offers home loans, loans against property, business loans, and personal loans.
Mortgage loans make up 86% of Urban Money's gross transaction value (GTV) of ₹87,831 Cr in FY26.
The company does not lend from its own balance sheet; it partners with 95+ banks, NBFCs, and financial institutions.
Its blended take rate on loan distribution is 1.5%.
Square Yards has an active partner network of ~70,000 microentrepreneurs (brokers, agents, advisors).
Its home loan attach rate is 55%.
Real estate GTV in FY26 was ₹13,236 Cr.
The company operates in the Middle East, Australia, and Canada, which drive 12% of global revenue.
Indian market revenue is growing at 57%, faster than the blended 48%.

Product: based proptech startup
Customers: Home buyers, property developers, real estate brokers, and loan seekers
How it makes money: Earns commissions on primary real estate sales and mortgage disbursements, plus interior design fees
What sets it apart: Full-stack integration covering real estate listings, mortgage distribution, and post-possession interior solutions