Real estate consultant Square Yards said on Thursday its gross profit rose 14% to Rs 32.2 crore, while revenues were up 50% to Rs 100.8 crore for the quarter ended in June.
Square Yards, which operates in the field of real estate brokerage and mortgages, has a presence in India as well as abroad.
In a statement, the company said the gross transaction value (GTV) rose 79% to Rs 2,196.9 crore in the first quarter of this fiscal year, from Rs 1,228.7 crore in the year. former.
Tanuj Shori, Founder and CEO of Square Yards, said, “We have had a phenomenal start to the year, with very strong growth indicators and a strong profitability profile. “
“We will continue to invest in increasing our distribution capacity and building blocks of new business segments such as home interiors, rental and SaaS,” he added.
Last month, Square Yards raised $ 25 million (around Rs 185 crore) in debt from Hong Kong-based ADM Capital to expand its business.
The private equity arm of the Reliance group, headed by Anil Ambani, had invested $ 12 million in Square Yards in November 2016.
In September 2019, Square Yards raised $ 20 million in equity from a group of investors including Times Group, Genkai Capital, the founders of PropertyGuru – Steve Melhuish and Jani Rautiainen; Koh Boon Hwee ex-chairman Singtel and DBS.
Square Yards offers a complete digital real estate journey from research and discovery, transactions, mortgages, home interiors, rentals, property management and after-sales services.
It also offers B2B SaaS services to real estate agents, real estate developers, banks and other financial institutions.
Square Yards posted a 17% increase in revenue to Rs 348.8 crore in the last fiscal year in India and overseas.
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