Square Yards Sees 66% Profit Surge in June Quarter FY25

Square Yards, a housing and home loan brokerage firm, reported a 66% increase in gross profit for Q1 FY25 at Rs 25 crore, driven by higher income. Total revenue rose by 52% to Rs 261 crore, with significant growth in its India operations. The firm expects FY25 revenue to meet its forecast of Rs 1,506 crore.

Square Yards, primarily engaged in housing and home loan brokerage, has recorded a 66 per cent rise in gross profit, reaching Rs 25 crore for the June quarter of FY25, bolstered by higher income.

In comparison, the company's gross profit stood at Rs 15 crore during the same period last year.

Total revenue saw a substantial increase of 52 per cent, climbing to Rs 261 crore from Rs 172 crore in the year-ago period. Notably, the turnover of the India business grew by 49 per cent to Rs 217 crore. Square Yards also operates in the Dubai market.

''Q1 has consistently contributed 16-18 per cent of our overall revenue, and based on this trend, we project revenue for FY25 to align with our forecast of Rs 1,506 crore (USD 180 million),'' stated Tanuj Shori, Founder and CEO, Square Yards.

(With inputs from agencies.)