Results · Financial Services
Square Yards posts 73.7% revenue jump in FY23
By Startup Enthusiast ·
- Date
- Company
- Square Yards
- What it does
- Housing and home loan brokerage
- Kind
- Results
- Founded
- 2014
- Sector
- Financial Services
What they do
Square Yards is a real estate and home loan brokerage platform
What happened
It reported FY23 revenue of Rs 663.68 crore, up 73.7% from the previous year
Why it matters
The company is likely to file for an IPO and expects its first full year of profitability in FY24-25
The details
- Square Yards reported FY23 revenue of Rs 663.68 crore, a 73.7% increase from Rs 382.13 crore in FY22.
- The company's GTV (gross transaction value) for FY23 was Rs 22,870 crore, up 67% year-on-year.
- Transactions saw a two-fold jump in FY23.
- The India market contributed 77% of total collection, Gulf countries 10%, and the rest of the world 13%.
- Square Yards processed $3 billion in GTV and has a monthly traffic of over 8 million.
- The company operates in over 100 cities across 9 countries.
- Total expenditure in FY23 was Rs 926.68 crore, up 49.5% from the previous year.
- Losses in FY23 were Rs 256.17 crore, up 13.8% from Rs 225.1 crore in FY22, but the Q4 FY23 (Jan-Mar 2023) quarter was profitable.
The bigger picture
- Square Yards has a strong investor roster and is gaining market share in an expanding market.
- The company is likely to deliver an IPO and expects FY24-25 to be its first full year of profitability.
- Its unit economics show it spent Rs 1.4 to earn Re 1 of operating revenue.
About the business
- Square Yards deals in housing and home loan brokerage.
- Real estate and financial services contribute ~87% of overall revenue.
- Employee benefit cost was 49.21% of overall cost, at Rs 456.03 crore in FY23, up 42.8%.
- Commissions to agents were Rs 156.6 crore in FY23, up 2.59X from Rs 60.44 crore in FY22.
- Finance cost was Rs 127.9 crore in FY23, up 47.9%.
- Advertising cost added Rs 33.88 crore in FY23.
- Legal-professional cost added Rs 19.47 crore in FY23.
What happens next
- Square Yards is likely to deliver an IPO.
- The company expects FY24-25 to be its first full year of profitability.
About Square Yards
- 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
More on Square Yards
- Square Yards partners with IIM Bangalore for property index17 July 2026 · Partnership
- Square Yards targets 40-50% revenue growth in FY275 July 2026 · Results
- Square Yards hires bankers for $200-300 million IPO28 June 2026 · IPO · ₹900 crore
- Square Yards raises $95M, becomes unicorn23 June 2026 · Funding · $95M (₹900 Cr)
- Square Yards plans $250-300 Mn IPO11 May 2026 · IPO · $250-300 Mn
- Square Yards reports strong FY26 revenue growth1 May 2026 · Results
- Square Yards achieves ₹1,417 Cr revenue with 55% CAGR in real estate services5 March 2026 · Results · INR 1,417 Cr
- Square Yards raises $35m from Smile Gate Group27 November 2025 · Funding · $35M