Square Yards Sees Revenue Surge with Strong Real Estate and Financial Services Performance
Square Yards reported a 45% revenue increase to Rs 378 crore for the June quarter, primarily driven by its brokerage in properties and home loans. The company saw a significant rise in gross profit and facilitated over 55,771 transactions, boosting its Gross Transaction Value to Rs 18,480 crore.
- Country:
- India
Square Yards has announced a 45% boost in revenue, reaching Rs 378 crore for the quarter ending in June, compared to Rs 260 crore in the same period last year. The company, heavily involved in property and home loan brokerage, highlighted its strengthened business model as a key factor.
The earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 4.4 crore, while the gross profit swelled to Rs 70 crore, according to the company's latest statement. Founder and CEO Tanuj Shori emphasized the robust growth in revenue and profitability.
During the recent quarter, Square Yards facilitated over 55,771 transactions and achieved a Gross Transaction Value of Rs 18,480 crore. The company reported a 36% increase in real estate revenue, a 60% surge in financial services, and a 21% growth in home renovations.
(With inputs from agencies.)
Google News