Square Yards clocks USD 947 million GTV, 84% revenue growth

ANI | Updated: Dec 29, 2017 16:07 IST

New Delhi [India], Dec 29 (ANI): Square Yards, a tech-backed transaction and aggregation platform for global real estate on Friday announced that it has registered gross revenue of USD 28 million for a period between January to December 2017, registering a rise of 84 percent over the same period last year.

For achieving this, it closed 11k deals across real estate and mortgages, registering a 116 percent over the same period last year.

In 2017, Square Yards also registered USD 950 million in gross transactional value (GTV) by December, reporting a rise of 81 percent from 2016. Also, its digital lending arm, Square Capital emerged as the largest distributor of secured mortgages in India with USD 30-40 million worth of loan disbursals every month.

"2017 has indeed been an extremely rewarding year for us at Square Yards despite big-time reforms like GST and RERA that caused disruption in the market. The team consistently pushed the envelope of excellence across all our business verticals - real estate, mortgages, the broker aggregation, and the results have been truly phenomenal," said Tanuj Shori, CEO of Square Yards.

Further, Square Yards established new international offices in key markets of Melbourne, Brisbane, and Toronto with plans underway to mark its presence in Amsterdam, Bahrain and Kuwait by the first quarter of 2018. It is now present in 32 markets in India and 10 countries across the globe with company-owned offices.

To keep up with this pace of growth, the company also ramped up its team and became the largest real estate sales employer with over 2,000 personnel.

The company is on a significant growth trajectory and is aiming to push the peddle on expansion and growth metrics over the next 12 months. (ANI)