Published date | 31 July, 2019

Tanuj Shori featured in the Click section of Mint

Co-Founder and CEO of Square Yards, Mr. Tanuj Shori has been featured in the Click Moment section of Mint.

Co-Founder and CEO of Square Yards, Mr. Tanuj Shori has been featured in the Click Moment section of Mint. When it came to talking about the one particular moment which heralded a major turning point for Square Yards, the article mentions that real estate in India is an immensely unorganized and fragmented industry. No matter how big a realty player one is, they hardly manage to establish a presence beyond one city, which in turn, leads to a limited market share. For Shori and his likes, the unorganized and opaque nature of Indian real estate was barely a challenge, and rather an opportunity to capitalize upon and offer value innovations that can create a new scalable and profitable business model in real estate advisory. Started in 2013, Square Yards eventually became one of the largest technology-led property aggregators in India, working with hundreds of Grade A developers and paving the way for cross-border real estate transactions. However, he also adds that there was an essential part which was important to be added to complete the portfolio of the company. In the last few years, the fintech sector in India has garnered significant traction with an influx of players emerging in payments, lending, insurance, and personal investments segments. On taking a closer look at these tech start-ups, what surfaces is that most of these are focused on either personal or SME financing. However, no one made even the slightest attempt to disrupt the largest and most promising segment of housing finance and mortgages.

As India goes digital, Shori has raised a very pertinent question as to why home loans should remain confined in the prehistoric era. When mortgages were started, the idea was to target the captive businesses. However, it was soon realized that the loan distribution chain was as broken as real estate. Square Yards then started sourcing independent mortgages, no matter if the underlying property transaction was facilitated by them or not. Thereafter the independent mortgage business grew tremendously, and has proven to be a game-changer, not just for the company but for the industry as a whole. With $650 million disbursal in the last couple of years, 7000 transactions in 2017-18, and nearing the breakeven point Ebitda, in today’s times, Square Capital is the largest distributor for the secured mortgage industry in India. Tanuj Shori further added that they have been putting to optimum use their strong relationships within the real estate and lending ecosystem, and are creating an integrated paperless system to bring all players on to a common platform. 

Tanuj Shori

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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.