Square Yards FY25 Revenue Hits ₹1,410 Crore, EBITDA ₹46 Crore

Gurugram, May 16, 2025: Square Yards, the country’s largest integrated real estate and mortgage platform, reported a stellar revenue of INR 1,410 crore and EBITDA of INR 46 crore on the back of INR 316 crore gross profit in FY25.

The company remains operating cash flow-positive and continues its impressive growth trajectory, boasting a four-year revenue CAGR of 51 per cent.

Square Yards reported a revenue of approximately INR 1,410 crore, marking a year-over-year growth of around 40 per cent from INR 1,001 crore in FY24. The company facilitated over 186,000 transactions and achieved a gross transaction value (GTV) of INR 59,093 crore in FY25.

FY25 demonstrated the potential of operational leverage in the business with gross profit margins reaching 23 per cent, a contribution margin of 13 per cent and EBITDA at 3 per cent. Additionally, Square Yards had positive operating cash flow in FY25.

With a consistent four-year CAGR of 51 per cent, Square Yards forecasts robust growth for FY26, targeting revenues of INR 2,000-plus crore and aiming for double-digit margins.

“We’ve built Square Yards as a well-diversified asset light platform to play India housing story,” Tanuj Shori, Founder and CEO, Square Yards, said.

“Today, we’re twice the size of the nearest Proptech player, three times larger than classified platforms and seven times ahead of the closest brokerage. With over INR 1,400 crore in FY25 revenue, consistent double-digit EBITDA margins and a 51 per cent CAGR over the last four years, we have established ourselves as a multi-category leader with a unique combination of scale, economics and market leadership.” 

He added, “We forecast FY26 EBITDA to grow four to five times while maintaining over 40 per cent revenue growth. We’re targeting $240-plus million in revenue and approximately $25 million in EBITDA. The operating leverage is clearly playing out, setting FY26 to be a landmark year for Square Yards.”

Q4 sees 32% YoY growth in revenue, showcases operating leverage

Q4 showed a glimpse of the operative leverage in the business with a strong margin profile across all levels. Both GTV and revenues for the quarter rose 32 per cent YoY while EBIDTA saw a 43 per cent jump during the final quarter of the fiscal year.

Annualised revenue (annualising Q4) stands at INR 1,900 crore, and historically Square Yards has consistently achieved its annualised Q4 numbers annually.

Fintech drives growth, PropTech leads in margins; India contribution 80%

The real estate segment led profitability, delivering 30 per cent YoY revenue growth with 29 per cent gross margins, aided by the company’s strong B2C positioning. The fintech vertical, which has scaled nearly 30 times over the past four years, continues to anchor growth. As the segment matures, an improvement in margins is expected.

Meanwhile, the digital products business maintained strong traction, supported by high gross margins of 47 per cent, and is expected to continue delivering above-average growth. In terms of geographical split, India business contributed 83 per cent of overall business while GCC countries contributed 11 per cent.

Industry leadership and Future Outlook

Square Yards, India’s largest well-diversified, asset-light platform in the housing ecosystem, continues to strengthen its position as a unique combination of scale, operating leverage and category leadership.

Backed by a full-stack, end-to-end solutions model, Square Yards’ integrated capabilities across the entire value chain provide significant value to both consumers and industry stakeholders. Its differentiated approach and robust business fundamentals are expected to drive accelerated and sustainable growth in the coming quarters.

Square Yards is coming on the back of a significant investment phase across the new businesses as well as capacity addition in core businesses. The company forecasts FY26 revenue to surpass $240-plus million with EBITDA expected to grow nearly five times to approximately $25 million. This outlook reflects continued momentum, with revenue growth projected to remain strong at upwards of 40 per cent.