Square Yards’ FY21 revenue Rs 350 cr; up by 17 per cent

Integrated real estate platform Square Yards declared its full financial year FY21 results on May 10 with Rs 350 core revenue, up 17 per cent Y-o-Y and EBITDA of Rs 50 crore.  The Gross Transaction Value (GTV) stood at Rs 8112 crore, up 33 per cent Y-o-Y, said a press release.

The company, it said, registered its sixth consecutive profitable quarter in Q4, clocking revenue of Rs 123 crore, a 47 pc Y-o-Y increase for the quarter with Rs 15.2 crore in EBITDA margins. Annualising last quarter in dollar terms, Square Yards is now clocking $70mn revenue and $10mn EBITDA run rate.

The release further said Indian real estate operations contributed 50 pc to the overall revenue while 41 pc came from international business and rest 9 pc from mortgage business.

Tanuj Shori, Founder and CEO, Square Yards said, “This has been a breakout year for us where we were able to outperform the property industry by more than 70 pc and win substantial market share with double digit EBITDA margins. All the new business segments have started showing strong traction and we are on track to deliver $85-90mn revenue in FY22.”