The Indian headquartered end-to-end property marketplace and brokerage Square Yards has recorded its fifth profitable quarter in a row which represents its “best ever quarter in terms of revenue”.
In a detailed report sent to Online Marketplaces, co-founder and CEO Tanuj Shori outlined the latest update of his company’s “evolution to an integrated platform”, highlights of which include listing volumes of around 300k, a 12% year-on-year revenue increase and 35% growth in year on year gross transaction values.
Square Yards’ business encompasses all phases of the property value chain from discovery to loans and transactions and the company also operates outside of India marketing both national and international property to ex-pat Indians abroad in Australia, Canada and The Middle East. According to today’s report, all business segments had positive EBITDA contribution margins with particular highlights being the pickups in the company’s rental transaction and property management businesses as well as the launch of a home furnishing platform.
Today’s quarterly report estimates that Square Yards’ main Indian listings platform is at around 40% of the listings volumes of the largest marketplace site in India. In an interview with Online Marketplaces as part of our Property Portal Watch APAC virtual event in September Shori told Simon Baker about how his company intends to scale up in the fragmented and immature Indian market.