Square Yards Reports Significant Revenue Growth with Boost from Urban Money

Square Yards, a Gurugram-based realty firm, reported a 47% revenue increase to Rs 525.7 crore for the December quarter. The firm expects FY revenue to surpass Rs 2,000 crore. Financial services through 'Urban Money' drove growth, with a 72% annual jump in Q3.

Square Yards, a renowned realty firm based in Gurugram, announced an impressive 47% growth in revenue, reaching Rs 525.7 crore in the quarter ending December. The company's past performance showed Rs 357.3 crore during the same period last year.

Over the first nine months of this fiscal year, Square Yards saw a 45% increase in revenue, totaling Rs 1,358.9 crore, up from Rs 934.9 crore in the prior period. Tanuj Shori, Founder & CEO, expressed confidence in surpassing the FY forecast of Rs 2,000 crore.

Financial services via Urban Money contributed notably to the growth, showing a 72% annual increase in the third quarter. The company's revenue heavily relies on India's market at 87%, while contributions from Gulf countries and others stand at 10% and the remaining share, respectively.

(With inputs from agencies.)