Square Yards revenue jumps 50 pc in Q1

Square Yards clocked Rs 100.8-crore revenue, up 50 per cent Y-o-Y with positive EBITDA run-rate, according to the Q1, FY22 results declared by the integrated real estate platform on August 5.

A press release said the Gross Transaction Value (GTV) of the company stood at Rs 2197 Crs, up 80 per cent Y-o-Y. The company also recorded an 80 per cent on year jump in property transactions at 3,916 deals during the quarter ending June, it said.

According to the release, Square Yards continued its solid profitability profile with 32 pc gross margins. Its gross margins continue to be in line with global marketplaces (40 pc+) as against agency margins (sub-20 pc), it said.

Tanuj Shori, Founder and CEO, Square Yards said, “We had a phenomenal start to the year, with very strong growth metrics along with a solid profitability profile. We will continue to make investments in ramping up our distribution capacity and building blocks of new business segments like home interiors, rentals & SaaS. More importantly, the marketplace continues to gain momentum with 4.5mn+ monthly traffic run rate and 50k+ active agents.”