Square Yards Q1 gross profit up 14% to Rs 32cr; revenue up 50% to Rs 101cr

Real estate consultant Square Yards on Thursday said its gross profit rose 14 per cent to Rs 32.2 crore, while revenue was up 50 per cent to Rs 100.8 crore for the quarter ended June.

Square Yards, which is into property brokerage and mortgage businesses, has presence in India as well as overseas.

In a statement, the company said the Gross Transaction Value (GTV) rose 79 per cent to Rs 2,196.9 crore in the first quarter of this fiscal from Rs 1,228.7 crore in the previous year.

Tanuj Shori, Founder and Chief Executive Officer, Square Yards said, We had a phenomenal start to the year, with very strong growth metrics along with a solid profitability profile."

"We will continue to make investments in ramping up our distribution capacity and building blocks of new business segments like home interiors, rentals & SaaS," he added.

Last month, Square Yards raised USD 25 million (about Rs 185 crore) as debt from Hong Kong-based ADM Capital to expand its business.

Anil Ambani-led Reliance