Square Yards Reports Significant Revenue Growth and Profitability

Square Yards, an integrated real estate and mortgage platform based in Gurugram, has announced a remarkable 45% increase in year-on-year revenue, achieving profitability at the EBITDA level for the quarter ending June 2025. The company’s revenue from operations surged by 45%, reaching Rs 378 crore in Q1 FY26, up from Rs 260 crore in Q1 FY25, according to a press release issued by the company.

As a proptech platform, Square Yards offers a comprehensive range of real estate services, which include property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. Operating in over 100 cities across nine countries, Square Yards showcases its significant market presence.

Growth Across Multiple Segments

The revenue contributions increased across various segments such as real estate, financial services, and home renovations, though there was a drop in digital products. Financial services demonstrated a remarkable 60% growth year-on-year, followed by a 36% increase in real estate and a 21% rise in home renovations.

Transaction Performance and Gross Profit

During the quarter, Square Yards facilitated 55,771 transactions, accumulating a Gross Transaction Value (GTV) of Rs 18,480 crore. Notably, revenue generated from India amounted to Rs 340 crore, illustrating a 57% year-on-year increase. The enhanced operating leverage enabled Square Yards to record its inaugural profitable quarter, with gross profit nearly tripling to Rs 70 crore in Q1 FY26, compared to Rs 24 crore in the same period last year. This resulted in an improvement in margins from 9% to 18%. Segmental EBITDA reached Rs 38.2 crore with a 10% margin, and overall EBITDA turned positive at Rs 4.4 crore, recovering from a loss of Rs 33.7 crore a year earlier.

CEO’s Statement on First Quarter Performance

Tanuj Shori, the Founder and CEO of Square Yards, expressed satisfaction, stating that the performance reflects a historic milestone for the company. He highlighted, “We are pleased to present our strongest-ever first quarter performance, with revenue increasing 45% year-on-year and gross profit nearly tripling, showcasing the strength of our operating model.”

Future Outlook and IPO Plans

According to sources, Square Yards plans to raise Rs 2,000 crore through an initial public offering (IPO), aiming for a valuation estimated between $1.5 billion and $2 billion. It is anticipated that the firm will file its Draft Red Herring Prospectus (DRHP) within the current financial year.