Results · Real Estate & PropTech

Square Yards crosses Rs 1,000 crore revenue in FY24

What they do

Square Yards is a full-stack proptech platform covering search, transactions, mortgages, and home furnishing

It crossed Rs 1,000 crore revenue in FY24, up ~50% from Rs 663 crore in FY23, with no external fundraise in two years

The company expects Rs 1,500 crore revenue in FY25 and double-digit margins in coming years

Square Yards crossed Rs 1,000 crore in total revenue for FY24.
Total revenue grew ~50% from Rs 663 crore in FY23.
Operating revenue was Rs 996.13 crore.
Mortgage and real estate services contributed 88% of revenue; interior and digital products contributed 12%.
Gross transaction value (GTV) was Rs 40,828 crore, up over 76% from Rs 22,871 crore in FY23.
The company completed 1.66 lakh transactions, up 50% from 1.08 lakh in FY23.
It achieved EBITDA profitability (adjusting for ESOPs) in Q4 FY24.
Operating cash flow turned breakeven in H2 FY24 after a negative Rs 56 crore in H1 FY24.

Square Yards did not raise any external funds in FY23 and FY24, showing self-sustaining growth.
Its valuation at the last equity fundraise in 2019 was about $300 million; revenue has quadrupled since then.
The company expects Rs 1,500 crore revenue in FY25 and double-digit margins in coming years.

Square Yards is a full-stack proptech platform covering search, discovery, transactions, mortgages, home furnishing, rentals, and property management.
It operates in 100+ cities across 9 countries.
It has 150,000 agent partners and over 8 million monthly visitors.
Its mortgage vertical is called 'Urban Money'; its home renovation vertical is called 'Interior Company'.

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