Square Yards Lifts Q3 FY26 Growth To 47% And Hits 8% EBITDA Margin

Square Yards said its growth momentum accelerated in Q3 FY26, delivering 47% year-on-year revenue growth and an 8% EBITDA margin for the quarter. More importantly, the company has now logged its fifth consecutive profitable quarter, and Q3 also turned operating cash flow positive.

On a trailing 12-month basis, Square Yards reported revenue of INR 1,835 crore (around USD 203 million) and EBITDA of INR 138 crore (around USD 15 million). For the first nine months of FY26, revenue reached INR 1,360 crore (around USD 153 million), up 45% year-on-year, with EBITDA of INR 64 crore, implying a 5% margin.

Square Yards is a diversified Indian PropTech business that combines a traditional real estate marketplace with transaction-led real estate services, plus adjacent verticals including fintech via Urban Money, home renovations via Interior Company, and property management through Azuro. It operates primarily in India, and also runs portals and services targeting Indian expats across markets, including the UAE and wider Middle East, Australia, and Canada.

Square Yards said EBITDA margin expanded by 200 basis points in Q3 and by 767 basis points across the first nine months of its 2026 financial year. It also reported gross profit of INR 120 crore in Q3, a 23% gross margin, and 9M gross profit of INR 276 crore.

By business line, financial services led again, up 72% year-on-year, with fintech platform Urban Money “looking to close the year at ~USD9bn GTV”. Real estate services grew 22%, and the home renovations platform was up 33% year-on-year.

On the volume side, Square Yards said GTV for the first nine months of FY26 grew 72% to INR 69,000 crore (around USD 7.6 billion), while the order book expanded 40%. Its domestic business revenue was up 56% over the nine-month period.

Management said it expects Q4 to remain healthy and reiterated confidence in achieving its FY26 forecast of INR 2,000 crore-plus revenue with high single-digit EBITDA margins.

Below: The PPW Pod speaks to Square Yards CEO & Co-Founder, Tanuj Shori.