SUMMARY
- Square Yards has reported a 52% rise in its revenue from operations to Rs 261 crore in Q1 FY25 from Rs 172 crore in Q1 FY24.
- The company reported a gross profit of Rs 25 crore with a negative EBITDA margin of Rs 32 crore in Q1 FY25.
- The proptech noted Rs 1,004 crore in revenue with an EBITDA profitability in FY24.
Proptech Square Yards has shared its financial results for Q1 FY25, indicating a 52% rise in its revenue from operations to Rs 261 crore, with a gross transaction value of Rs 10,053 crore. This marks a big leap from the revenue of Rs 172 crore and gross transaction value of Rs 6,674 crore seen in the same quarter of the previous fiscal year.
The Gurugram-based firm’s financial statement for FY24 noted Rs 1,004 crore in revenue with an EBITDA profitability. However, Square Yards faced net losses of Rs 216 crore in FY24.
The financial services and real estate services sectors accounted for 83% of the firm’s total operating income, showing a 48% YoY increase in the former and a 61% YoY increase in the latter. Additionally, the firm’s digital services sector saw a 145% growth during this period.
Square Yards operates as a full-service Proptech platform, interacting with customers at every stage of the property journey, from searching and discovering properties to transactions, mortgages, home furnishings, rentals, and property management. The firm has over 8 million monthly visitors and a gross transaction value of approximately $5 billion, with a presence in over 100 cities across nine countries.
In the quarter under review, Square Yards reported a gross profit of Rs 25 crore, though it had a negative EBITDA margin of Rs 32 crore aginst a gross profit of Rs 15 crore and a negative EBITDA margin of Rs 29 crore in Q1 FY24.
The company anticipates a revenue of Rs 1,506 crore for FY25, an increase from the revenue of Rs 1,004 crore from FY24, alongside a positive EBITDA of Rs 101 crore.
