Square Yards Q1 2027: Revenues up 66% as Results Reflect "Resilient, Strong Platform"

The Indian real estate marketplace operator Square Yards has announced its results for the 2026 financial year, boasting major revenue growth as the business surely moves closer to an IPO.

Highlights include:

• Revenues were USD 66 million (INR 628Cr), up 66% year-on-year
• Gross profit of $11 million, up 49%
• EBITDA of $2 million, up 357%
• EBITDA margin reaches 3%, up from 1% in Q1 2026

Square Yards operates a full-stack real estate business, including marketplace, mortgage, interiors and renovations services, and property management, operating primarily in India but with circa 10% of revenues coming from overseas.

To put Square Yards in context, the company cumulatively transacted USD 1.3 bn worth of housing and disbursed USD 9 bn in loans in FY26. That makes Square Yards one of the largest real estate developers in India, while its fintech subsidiary, Urban Money, is essentially a private bank in its own right. The company says the launch of new B2C services will improve monetisation next year.

Commenting on the quarter's results, the company said:

Square Yards started FY27 on a strong note with ₹628 Cr revenue, ₹102 Cr Gross Profit and ₹20 Cr EBITDA. Since Q1 is typically the weakest quarter due to muted real estate activity, these strong results highlight resilience and a strong platform that should drive ambitious FY27 targets.

Overall, we see upside potential to our FY27 guidance of ₹2,800 Cr in revenue and ₹350 Cr in EBITDA.

66% revenue growth is the highest Y-Y growth in the last eight quarters, and it comes on a base that had itself grown 45%. EBITDA of ₹20 Cr against ₹4 Cr last year makes this the 7th consecutive profitable quarter. India remains the engine. India now contributes 92% of revenue (90% in Q1 FY26), with GCC at 6% and the rest of the world at 2%.

In Q1 2027, fintech contributed 69% of total revenue while proptech contributed 31%.

Gross profit increased 49%, and segmental EBITDA rose 54% Y-Y despite a drop in margins. EBITDA grew circa 4.5x, and the company reiterates its full-year forecast of a 2x jump in EBITDA.

Square Yards recently launched India’s first native app on ChatGPT, with access now live for users in India and worldwide.