Square Yards has pulled off a stunning turnaround that’s sending shockwaves through India’s real estate and proptech world.
The Gurugram-based platform reported a jaw-dropping 45% jump in revenue to Rs 378 crore in just the first quarter of FY26 — and, for the very first time, posted a positive EBITDA, ending years of losses.
With an IPO reportedly in the works, this could be the biggest proptech story you haven’t been hearing enough about — until now.
Revenue Rockets to New Heights
Forget what you thought you knew about real estate startups. Square Yards is rewriting the script with explosive growth across its entire business.
- Overall revenue zoomed up 45% year-on-year from Rs 260 crore to Rs 378 crore.
- Financial services soared by a staggering 60%.
- Real estate and home renovations also surged by 36% and 21%, respectively.
- The platform facilitated over 55,000 transactions with a colossal Gross Transaction Value (GTV) of Rs 18,480 crore in Q1 alone.
India led the charge, with revenue contributions up 57% to Rs 340 crore.
Profit at Last — Square Yards Goes From Red to Green
After years of burning cash, Square Yards finally turned the corner — posting a positive EBITDA of Rs 4.4 crore, a massive leap from a loss of Rs 33.7 crore a year ago.
Gross profit nearly tripled to Rs 70 crore, and profit margins doubled to 18% — showing this isn’t a fluke, but real operational strength.
IPO Plans Set to Ignite Market Buzz
Sources say Square Yards is gearing up to raise a whopping Rs 2,000 crore through an IPO with a valuation target between $1.5 billion and $2 billion.
The company is expected to file its Draft Red Herring Prospectus (DRHP) soon, putting it on track to become one of the hottest public offerings in India’s proptech space.
Why This Matters: Square Yards is the Real Estate Game-Changer
In a crowded market where many startups struggle to stay afloat, Square Yards is proving it can grow fast — and profitably.
Their integrated platform covers everything from buying and selling to mortgages and home renovations, across 100+ cities in 9 countries.
This quarter’s performance shows Square Yards is ready to dominate the proptech revolution, and their IPO will be a critical test of investor appetite for this booming sector.
