IPO · Real Estate & PropTech

Square Yards hires bankers for $200-300 million IPO

By Startup Enthusiast · 28 June 2026

What they do

Square Yards is an integrated real estate platform offering property search, transactions, home loans, interiors, and property management

It appointed Axis Capital, JP Morgan, and BofA Securities to manage its IPO, targeting $200-300 million at a ~$2 billion valuation

The company also raised ₹900 crore in a pre-IPO round anchored by EAAA Alternatives, with participation from Muzinich & Co

Square Yards appointed Axis Capital, JP Morgan, and BofA Securities to manage its IPO.
The IPO target is $200-300 million, with a valuation of about $2 billion.
The IPO will combine fresh equity and an offer for sale by current investors.
The IPO is planned for the next financial year (2027-28).
Square Yards also raised ₹900 crore in a pre-IPO round anchored by EAAA Alternatives, with participation from Muzinich & Co.
The ₹900 crore will fortify the balance sheet, fuel expansion, and strengthen tech infrastructure.
The company plans to close another $50-60 million funding round over the next quarter.

Square Yards' FY26 revenue grew 48% to ₹2,086 crore, and EBITDA jumped 3.7x to ₹176 crore.
The company benefits from tailwinds like rapid urbanisation, an expanding middle class, and a digital shift in property transactions.
It competes with players like ANAROCK, PropTiger, Magicbricks, NoBroker, and Livspace.

Square Yards operates in India, UAE, Australia, and Canada.
Its portfolio includes Urban Money (mortgages), Azuro (rentals & property management), and Interior Company (home interiors).
It also runs a data intelligence platform for property valuation and title search, and PropVR (AI-powered 3D/VR tool).
India business contributed 88% of revenue, overseas 12%.
FY26 revenue was ₹2,086 crore, gross profit ₹476 crore, and EBITDA ₹176 crore.

Square Yards plans to launch its IPO in the next financial year (2027-28).
It also plans to close another $50-60 million funding round over the next quarter.
New capital will strengthen the tech backend, fund expansion, and shore up the balance sheet.

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