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Square Yards' FY21 Revenue Up 17 % At Rs 349 Cr

Indian real estate operations contributed 50 per cent to the overall revenue while 41 per cent came from international business and rest 9 per cent from mortgage business

Photo Credit : Shutterstock

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Housing brokerage firm Square Yards on Tuesday reported 17 per cent increase in revenue at Rs 348.8 crore during the last fiscal year from India and overseas business.

Its revenue stood at Rs 298.2 crore in 2019-20.

Indian real estate operations contributed 50 per cent to the overall revenue while 41 per cent came from international business and rest 9 per cent from mortgage business, Square Yards said in a statement.

Gross profit increased 57 per cent to Rs 139.9 crore in 2020-21 from Rs 88.9 crore in the pervious year.

The Gross Transaction Value (GTV) stood at Rs 8,112 crore in the last fiscal year, up 33 per cent from 2019-20.

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 per cent and win substantial market share with double digit EBITDA margins.' All the new business segments have started showing strong traction, he said.

NCR-based Square Yards has so far raised USD 50 million in equity and over USD 25 million in debt financing since its inception in 2014. 

(PTI)