Square Yards Continues Diversified Growth Trajectory in FY22 as Revenues Rise 55%

The Indian end-to-end real estate marketplace company Square Yards has released a report on its activities for the Indian 2022 financial year. Highlights of the company's activities for the 12 months ended 31st of March 2022 include:

• Revenue growth of 55% to $51 million
• GTV increased by 87% to $1.8 billion with transaction numbers up 185%
• Main New Homes business segment profitable at ~15% EBITDA margin

Founded in 2014 by Kanika Gupta and Tanuj Shori, Square Yards has grown to become one of India's most important and diverse real estate businesses. The company operates a core new homes listings service as well as an existing homes segment, property management business, renovations business and fintech offering. Square Yards operates in India as well as targeting Indian ex-pats in The UAE, Middle East, Australia and Canada.

The company's latest set of results saw it beat revenue forecasts by 9% according to a press release with GTV, new orders and transaction numbers all showing healthy growth since FY 2021.

The drop in gross profit was chalked up by the company missive to "a significant investment cycle on capacity, branding and new businesses" which the company believes will pay dividends over the next couple of years. The company closed a $25m funding round from the likes of Hong Kong-based ADM Capital in July 2021 to pursue what CEO Tanuj Shori described as "an accelerated growth curve" that the company was on the cusp of.

Like many real estate marketplace businesses in the country, the new homes market still represents the vast majority of company revenue but the nascent 'BuildTech' segment (6%), FinTech (18%) and the Square Yards' interiors business (6%) are all increasing their contributions.

Square Yards is investing heavily in its existing homes portal business with the majority of cash burn coming from the segment's development. The platform is now claiming to be India's largest supply-side listing platform with 800k+ listings, and 50k+ active agents.

Watch: Square Yards CEO Tanuj Shori tells us how the company is building a leading transaction business in India