New Delhi, 28th Jan, 2025: Square Yards, India’s largest integrated real estate platform, today announced its Q3’ FY25 results continuing its upward trajectory, marked by 45% year-on-year (Y-Y) revenue growth and a return to profitability with INR 22cr EBITDA (6% margin). Revenue for the quarter stood at Rs 358.6cr and Gross Transaction Value (GTV) stood at Rs 16,271 Cr, up 54% Y-o-Y. With this, company’s 9M revenue for FY24 now stands at Rs 938.4 Cr up 46% Y-Y.
Tanuj Shori, Founder & CEO of Square Yards, expressed his enthusiasm for the company’s progress: “This would mark our 2nd consecutive year of profitability, and first year of operating cash flow break even. We expect to close at USD 170mn+ revenue for FY that would put us at more than 3x the size of any other proptech platform in the country (and the only profitable platform). It would also entail a ~55% CAGR over the last 4 years. We also expect operating leverage to continue to increase, with next FY to be in the range of 15% EBITDA margins.
Key Achievements in Q3FY25
Square Yards demonstrated impressive growth across all key metrics in Q3FY25. Gross Transaction Value (GTV) grew by 54% for the quarter and 52% for the first nine months of the fiscal year, driven by a healthy 44% year-on-year increase in the order book. Overall revenue for the 9M FY25 period surged 46% year-on-year, with revenue from the India business growing even faster at 50%. Gross profit for Q3 reached INR 90 crore, representing a 25% gross margin, while EBITDA stood at INR 22 crore, reflecting a 6% margin. Financial services led the company’s growth with a 58% year-on-year jump, supported by fintech platform Urban Money, which is expected to close the year with USD 5.5 billion in GTV. Real estate recorded a 41% year-on-year rise in the order book, and the home renovations platform maintained its upward momentum with over 50% year-on-year growth. With strong fundamentals and diversified growth across its core verticals, the company is well-positioned to maintain its leadership in the proptech industry.