A technology-enabled, global real estate marketplace, Square Yards is India’s largest proptech plus fintech player that operates O2O transaction platform for Real Estate and Mortgages. In an interview with Entrepreneur India, Tanuj Shori, Co-Founder and CEO of Square Yards, stated that it seeks to capture 15-20% share in the primary residential sales market in the country over the next few years. Besides continuing to place its focus on Indian real estate, which he believes should remain a lion’s opportunity, the company is also investing aggressively into international real estate, which is one of the most rapidly growing and most profitable segments of the business. Speaking of the biggest risks he has taken for his start-up, he said that he never approached VCs to raise the initial seed capital and bootstrapped the venture. He further adds that the company has always been driven by the thesis that unless they are confident of the financial viability of the venture ourselves, without putting to risk anyone else’s capital. He also mentioned that he has had to sell their portfolio of houses, parental house, jewellery, and everything liquid as well as illiquid investment that was possible to be mustered.
As far as strategizing for an organization is concerned, he believes that it is an overrated concept. Rather, a leader or organization is set apart from the rest of the pack by virtue of execution and the people behind that execution. He goes on to say that his success as an entrepreneur and the success of Square Yards as a team has been a function of executional excellence the burning passion to always do more and push the boundaries. Another attribute which has been critical to their success is aggression and the ability to dream big, aspire and envision bigger things than was ever conceivable.
As far as giving a message for upcoming start-up founders is concerned, he said that people aspire to become an entrepreneur for all the wrong reasons. He stresses on the fact that the founder of a start-up should be passionate about the venture and completely dedicate himself/herself to it. when it comes to throwing light on impacting the society at large through a start-up, Shori holds the notion that property buying process in India is immensely complicated, challenging, and broken. Though it is the biggest investment of an individual’s life, it is largely driven by perception and societal factors, rather than science and logic. He says that Square Yards as a start-up enables people to take a rational decision regarding the most important investment decision of their lives, that is, buying their own house. He further adds that Square Yards is sincerely working towards fixing the entire value chain in the industry- how developers operate, how purchases are perceived by consumers, how distribution process needs to evolve, as well as how to convince the brightest talent to perceive as a long-term career option.
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.