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Square Yards, India’s largest integrated real estate marketplace, has announced its Q1 FY25 results, reporting an impressive revenue of INR 261 crore (USD 31 million), a 52% year-over-year (YoY) increase. This marks the 12th quarter out of the last 13 where the firm has delivered over 50% YoY growth.

“Q1 has consistently contributed 16-18% of our overall revenue, and based on this trend, we project revenue for FY25 to align with our forecast of INR 1,506 crore (USD 180 million)”, stated Tanuj Shori, Founder and CEO, Square Yards. “We anticipate maintaining gross margins above 25% and EBITDA margins around 7% at the corporate level. Overall, we remain on track for over 50% growth this fiscal year, targeting revenue that reflects a robust four-year CAGR of 50%. More importantly, we expect to remain EBITDA and operating cash flow positive throughout the year. While, the real estate market’s growth across cities has certainly given us a strong tailwind, it’s our unique offerings, the trust our customers place in us, and our continuous focus on leveraging the latest technological innovations that have really made the difference.”

Square Yards reported a significant 51% year-on-year (YoY) increase in Gross Transaction Value (GTV) for Q1 FY25, largely driven by exceptional performance in financial services. The company’s order book also grew by approximately 40% during this period. Gross profit for Q1 surged by 66% YoY, accompanied by an 80 basis points improvement in the gross profit margin.

Revenue growth across segments was notable: real estate services grew by a solid 48%, financial services surged by 61%, and digital services saw an impressive 145% YoY increase. Financial services continue to be a key growth driver for Square Yards. Financial Services along with Real Estate Services collectively contributed around 90% of the firm's total revenue. India's business continues to account for a substantial 83% of overall revenue. Despite global challenges, it showed remarkable resilience with a robust 33% increase in order bookings.

Square Yards' impressive performance positions it for accelerated, long-term profitable growth and value creation in the coming quarters and beyond. With confidence in its financial outlook for the full fiscal year, the PropTech firm is committed not only to driving revenue growth but also to achieving EBITDA positivity and generating positive operating cash flow. The firm's leading capabilities across the entire value chain, supported by comprehensive end-to-end solutions, deliver substantial value to both consumers and key industry stakeholders. Additionally, Square Yards is well-positioned to capitalize on a large, fragmented market opportunity, poised for significant growth driven by favourable tailwinds.

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