Square Yards Q1 revenue rises 45 pc to Rs 378 cr

New Delhi, Aug 25 (PTI) Square Yards, which is mainly into brokerage of properties and home loans, on Monday reported a 45 per cent increase in its revenue to Rs 378 crore for the quarter ended June.

Its revenue stood at Rs 260 crore in the year-ago period.

The company has posted an EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 4.4 crore and Rs 70 crore gross profit, Square Yards said in a statement.

"With revenue growing 45 per cent year-on-year and gross profit nearly tripling, this quarter reflects the strength of our operating model," Tanuj Shori, Founder and CEO of Square Yards, said.

The company facilitated over 55,771 transactions and achieved a Gross Transaction Value (GTV) of Rs 18,480 crore in the latest June quarter.

"Real estate revenue rose 36 per cent year-on-year, financial services surged 60 per cent, and home renovations posted a 21 per cent increase," Square Yards said. PTI MJH MJH SHW