Square Yards revenue up 49% to Rs 1,004 crore in FY24

NEW DELHI: Square Yards, which is mainly in the housing and home loan brokerage business, on Monday said its revenue has risen 49 per cent to Rs 1,004.45 crore during the last fiscal year, driven by strong demand for residential properties. Of the total revenue, its India business contributed 79 per cent, Square Yards said in a statement.

Square Yards also has a presence in Dubai and some other countries.

Its revenue stood at Rs 672.4 crore in the preceding 2022-23 fiscal.

"For the first time, the company has achieved EBITDA profitability for the full year FY24. Additionally, Square Yards reached operating cash flow breakeven in H2FY24," the statement said.

Of the total revenue from operations during the last fiscal year, the company said the real estate services contributed Rs 428.94 crore while financial products and services added Rs 448.69 crore.

The digital product services and interior services generated Rs 40.68 crore and Rs 77.82 crore, respectively, during the last fiscal year.

"FY24 was the year of 'more of the same' and we believe, with sub 2 per cent market share across all segments, the focus will continue on consolidating market share in the markets/segments we are present," Tanuj Shori, Founder & CEO of Square Yards, said.

The company said it facilitated over 1,65,000 transactions and achieved a Gross Transaction Value (GTV) of USD 5 billion in 2023-24 fiscal.