SquareYards, one of India’s foremost property brokerage players, which is supported by the Reliance Group spearheaded by Anil Ambani, has reported handsome growth of 38% in revenues for FY2018-19. Revenues for the last fiscal touched Rs. 220 crore on the back of higher fee income and sales alike.
SquareYards was established in the year 2013 and majorly emphasizes on enabling primary residential realty sales in the country while also focusing on NRI (Non-Resident Indian) markets. It also enables potential homebuyers to get home loans from leading financial institutions. Revenues of Rs. 220 crore in the last fiscal were comparatively higher than Rs. 160 crore posted in the year before FY2018-19.
70% of total revenues were contributed by the real estate operations in India while global real estate contributed around 20%. 10% of overall revenues were derived from the company’s mortgage division. 11,508 transactions were successfully executed by SquareYards which includes both home loans and sales of homes in FY2018-19 which was higher than the 11,299 transactions executed in FY2017-18. With regard to value, transactions of almost Rs. 5,000 crore were concluded in the last fiscal as compared to FY2017-18’s figures of Rs. 4,302 crore.
The Founder & CEO at SquareYards, Tanuj Shori, stated that the company has posted strong FY2018-19 results and this is a testament to its robust business strategy in tandem with its profitability. He talked of how the business blueprint was almost perfect and this had been achieved via innovative technologies, solid processes and the emphasis on offering the very best products to clients. He also added that SquareYards is now emphasizing on scaling up its overall execution by making prior investments in technologies and the right talent.
The company continues its domination in the NRI sales category and has also forayed into newer markets such as Bahrain and Kuwait. The global real estate division, which majorly covers the primary under-construction category, has been one of the company’s swiftest growing endeavours. This division posted year on year growth of 107% in revenues for FY2018-19. Square Capital, the mortgage division, has also been growing consistently, having notched up an average monthly transaction count of 800 and disbursals of close to Rs. 300 crore each month.
Square Yards is one of the leading transaction entities for mortgages and real estate and its platform encompasses the whole journey towards buying real estate, right from property searches and discovery to the transactions, after-sales service and mortgages. The company has a presence in 20 cities in India and more than 10 global locations. Its chief rivals include Anarock, PropTiger.com, Investors Clinic, 360 Realtors and Wealth Clinic when it comes to the housing brokerage sector (organized). In the year 2016, SquareYards raised a sum of approximately Rs. 84 crore of $12 million from Anil Ambani controlled Reliance Group’s private equity division.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.