Square Yards ends FY21 with $50M revenue and $1.1B GTV, Q4 earnings up by 47 pc
Square Yards, a Gurugram-based integrated real estate platform, has announced its FY21 results with $50 million revenue, up 17 percent year-on-year, and EBITDA margins of 14.2 percent. The gross transaction value (GTV) stood at $1.1 billion, up 33 percent year-on-year.
The company said it registered its sixth consecutive profitable quarter in Q4, clocking a revenue of $17.2 million, a 47 percent year-on-year increase for the quarter with 15.2 percent in EBITDA margins.
Annualising last quarter in dollar terms, Square Yards now claims to be clocking $70 million revenue and $10 million EBITDA run rate.
“This has been a breakout year for us where we were able to outperform the property industry by more than 70 percent 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 $85-90 million revenue in FY22,” said Tanuj Shori, Founder and CEO, Square Yards.
According to the company, Indian real estate operations contributed 50 percent to the overall revenue, while 41 percent came from international business and the rest 9 percent from mortgage business. The global real estate segment witnessed its GTV jump 100 percent year-on-year, led by a higher increase in market share.
Square Yards also witnessed significant traction in the new business segments with marketplace listings platform scaling to reach 500,000 listings, 4 million website traffic, and 30,000 active broker relationships. Rentals touched 350+ monthly transactions, while Property Management Services acquired 1,500+ homes. The Interiors/Home furnishing arm registered $500,000 revenue in just two months of launch, while Enterprise SaaS revenue hit $100,000 monthly run rate.
Square Yards has been building an ecosystem of services across the real estate value chain. It has acquired three companies recently – PropVR, PropsAMC, and Azuro.
PropVR is an AI-based platform specialising in creating immersive digital property experiences using 3D, VR, and AR. PropsAMC is a leader in data intelligence and asset management, while Azuro is the largest rentals and property management platform in India.