Published date | 27 July, 2020

Decoding Square Yards’ success: How the company got to where it is today

Tanuj Shori, CEO and Founder at Square Yards, had a candid chat with RealtyNXT founder Kritika Singh Rawat. He had some interesting insights to share about Square Yards’ growth and journey over the years.

Tanuj Shori, CEO and Founder at Square Yards, had a candid chat with RealtyNXT founder Kritika Singh Rawat. He had some interesting insights to share about Square Yards growth and journey over the years. The company got into the Indian market at a time when fragmentation, according to Shori, was at ludicrous levels. Nowhere in the world did the biggest real estate developer have only 1% of market share or the biggest distributor have just 0.2% market share.

Square Yards faced challenges at the sector-level including professionalism of counter-parties, non-transparency of data, unregulated nature of the sector, etc. Challenges at the execution level were also considerable and Shori shared how the organization now puts more importance on execution above ideas which are only smaller parts of the entire equation. Being the first Indian real estate startup to swiftly expand globally, Square Yards has managed to garner sizable growth from markets like Australia, Canada and particularly the Gulf.

Shori stated that a majority of the companys global push has been accidental and opportunity-driven. The Gulf has always been a key NRI market and even before COVID-19 broke out, Square Yards had realized that Dubai, for instance, has a local market almost similar to Mumbai or Delhi with some unique variables, for instance the primary market is stronger than the secondary market in the Gulf. The replication of dos and donts from the Indian realty market led to success in the Gulf for the brand and soon it started expanding into other markets.

Over the last 12-18 months, according to Shori, global markets have been immensely profitable for Square Yards. Shori feels that Square Yards competes with multiple players at every stage of the real estate value chain since there is no single player covering the entire ecosystem apart from his company as of today. From real estate brokerage, mortgage (Indias biggest brokerage in this segment), rentals, property management, SaaS and a lot more, Square Yards covers the whole process from property search to post-sales, property management and so on. From 99 Acres to Salesforce, it competes with innumerable players at various junctures of this ecosystem play.

In terms of market share, while Square Yards had 3-3 ½ % of the Indian real estate market prior to COVID-19, it has scaled up market share to a whopping 25% over the last four months (post COVID-19). This effectively means 1 out of every 4 property transactions in India happened on Square Yards. This phenomenal run rate has been made possible due to the emphasis on cutting-edge technology, rapid evolution, a skilled team and of course, the unmistakable recipe for success- hard work

Watch the full interview here




Tanuj Shori RealtyNXT Lockdown Covid-19 Proptech Story Series

A Ringside View of Square Yard...

PropertyGuru has featured CEO ...

06 August, 2020

How residential real estate se...

Shori also feels that home buy...

03 August, 2020

DLD aims at reviving hospitali...

CEO at Square Yards, Tanuj Sho...

03 August, 2020

Is an additional repo rate cut...

Tanuj Shori CEO and Founder at...

28 July, 2020

Square Yards unveils Meri Wali...

This personal connect with cus...

19 July, 2020

Square Yards ranked in list of...

Square Yards, Indias foremost ...

21 April, 2020

Square Yards Recognized as 201...

Square Yards Recognized as 201...

11 October, 2019

Square Yards Bagged Golden Bri...

Square Yards has bagged anothe...

14 September, 2019

Square Yards Has Won Real-Esta...

Square Yards has won "Real-Est...

12 September, 2019

Square Yards Awarded With Prop...

Square Yards conferred with th...

01 September, 2019

Tanuj Shori, UAE-Based Enterpr...

Over the past 12 months, Squar...

23 August, 2019

Expansion is a natural busines...

Square Yards has made a big di...

21 August, 2019

Related Media

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.