Proptech startup Square Yards forays into home furnishing, interior services
Gurugram-based integrated real estate startup Square Yards has launched a new platform offering home furnishing and interior services.
The subsidiary, called Interior Company, has already set up offices in Bengaluru, Mumbai, and Delhi-NCR, and is looking to scale operations pan India and the Middle East. The startup said it plans to build an integrated technology platform for end-to-end interior design and execution.
Tanuj Shori, Founder and CEO of Square Yards, said:
“We always had very strong demand for interior services from our existing ecosystem of real estate customers, some of the country’s top developers, and a 200,000+ strong broker network. We decided to build this capability in-house with the same ethos and building blocks of a startup like Square Yards.”
“Within just two months of the beta launch, it is clocking over $0.5 million of monthly revenue run rate. With strong vendor partnerships and powerful tech integrations, we aim to emerge as a formidable player in this space within the first 12 months of operations,” Tanuj added.
In a media statement, the real estate firm said Interior Company will initially focus on new home buyers in the primary real estate segment who want beautiful interiors at an affordable cost. It is building standardised and modular solutions for near-possession and ready-to-move inventory in some of the top developer projects across major metro cities, the statement added.
The startup claims to be investing in building an integrated tech platform that provides high-quality 3D visualisation of spaces with immersive VR experience, allowing customers to literally experience the final product. The platform also offers end-to-end designer workbench, auto bill of material generation, order and logistics management with vendors, thereby giving real-time status updates of their project to the customer, it added.
Square Yards recently declared its FY21 results with Rs 350 crore revenue and EBITDA of Rs 50 crore. In addition to its primary real estate brokerage business, its new business segments claim to have started showing strong traction and are on track to deliver strong revenue in FY22.