Square Yards crosses Rs 1,400 Cr revenue in FY25, gross profit surge 52%

Proptech firm Square Yards has continued its growth streak with over 40% year-on-year growth in its operating revenue, crossing the Rs 1,400 crore threshold in the fiscal year ending March 2025. At the same time, the company’s gross profit surged 52% to Rs 316 crore in FY25, according to its provisional financial statement reviewed by Entrackr.

The Gurugram-based company saw around 41% growth in its operating revenue in FY25 to Rs 1,410 crore from Rs 1,001 crore in FY24. Mortgages and real estate services contributed 90% to the firm’s income, while the remaining 10% was earned from interior and digital products.

Square Yards is a proptech platform that provides end-to-end real estate services, including property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. Square Yards operates in more than 100 cities across nine countries and has 150,000 agent partners.  According to the provisional documents.

During FY25, Square Yards’ GTV (Gross Transaction Value) grew more than 44% to Rs 59,093 crore from Rs 40,828 crore during FY24. The number of transactions also increased to 1.86 lakh during the period, as per the firm’s provisional documents.

Looking at the company's expense sheet, employee benefits remain the largest cost component, accounting for 38% of total expenses. According to the provisional financial statement for FY25, this cost increased by 15%, rising from Rs 535 crore in FY24 to Rs 618 crore in FY25. See detailed expense breakup below:

Square Yard’s gross profit increased 52% to Rs 316 crore from Rs 208 crore in FY24 having a gross margin of 22%, as per the document. The firm also reported positive EBITDA of Rs 46 crore in FY25. 

As per the firm’s provisional documents, the firm claimed to have an operating cash flow positive for the last fiscal year and has achieved a compound annual growth rate (CAGR) of 51% over the past four years. Looking ahead, it projects revenue of Rs 2,000 crore (approximately $240 million) for FY26.

According to TheKredible, Square Yards has raised a total of $96.5 million of funding till date, having Reliance Group as its lead investor which has 11% stake in the company.

The company competes with PropTiger and AnaRock in real estate services while its digital products and services vertical competes with Magicbricks, 99acres, Housing, and NoBroker. Meanwhile, its mortgage vertical ‘Urban Money’ competes with Andromeda & Paisabazaar.