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Property consultant Square Yards has reported a 41% increase in revenue, reaching INR 1,410 crore in the previous fiscal year, primarily due to higher brokerage income from housing sales and home loans. The company's revenue in the prior fiscal year was INR 1,001 crore. Square Yards revealed that its India revenue climbed 47% to INR 1,163 crore, up from INR 790 crore in the 2023-24 financial year. Additionally, gross profit surged by 52% to INR 316 crore, compared to INR 208 crore in the preceding year. The company's founder and CEO, Tanuj Shori, highlighted that Square Yards has positioned itself as a robust asset-light platform with a strong presence in both India and Dubai.
Square Yards, a prominent property consultancy, has announced a significant 41% rise in its revenue to INR 1,410 crore in the past fiscal year, driven predominantly by increased brokerage income from housing sales and home loans. The company's revenue in the preceding financial year stood at INR 1,001 crore. Advertisement
According to a recent statement, Square Yards reported that its India revenue surged by 47% to INR 1,163 crore, compared to INR 790 crore in the 2023-24 fiscal year. The company's gross profit also experienced a notable growth of 52%, reaching INR 316 crore from INR 208 crore in the prior year.
Tanuj Shori, the Founder and CEO of Square Yards, stated that the company has been strategically developed as a well-diversified, asset-light platform to tap into the expanding Indian housing market. Shori noted that Square Yards is currently twice the size of its nearest Proptech competitor, three times larger than classified platforms, and seven times ahead of the closest brokerage.
Square Yards continues to maintain a strong market presence in both India and Dubai, reflecting its strategic focus on scaling its operations across key real estate markets.
The company's expansion into home loans and brokerage income has evidently bolstered its financial performance, reflecting its robust market strategy. With a significant presence in both India and Dubai, Square Yards appears poised to leverage further opportunities in the real estate sector, particularly in asset-light operations. The firm's focus on scalability and diversification continues to distinguish it from its competitors, positioning it as a formidable player in the Proptech and brokerage space.
Source - PTI
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