Square Yards' total expenses surge 32 pc to Rs 1,613 crore in FY25

IANS May 19, 2025 221 views

Square Yards, a leading real estate marketplace, experienced significant financial growth in fiscal year 2025 despite rising expenses. The company's total expenses increased by 32.21% to Rs 1,613 crore, primarily driven by higher employee costs and commission payouts. Despite these increased costs, Square Yards managed to grow its operating revenue by 41% to Rs 1,410 crore, marking a milestone in its financial journey. The firm maintained a positive EBITDA and remained cash flow positive, highlighting its strategic financial management.

"The company crossed the Rs 1,400 crore revenue mark for the first time" - Square Yards Financial Statement
Mumbai, May 19: Real estate marketplace Square Yards’ total expenses rose by over 32.21 per cent to Rs 1,613 crore in FY25, from Rs 1,220 crore in FY24, according to its financials.

Key Points

1

Gross transaction value jumped 44% to Rs 59,093 crore

2

Employee costs rose 15% to Rs 618 crore

3

Operating revenue grew 41% to Rs 1,410 crore

4

Gross profit increased 52% to Rs 316 crore

The increase was mainly driven by higher employee costs, commission payouts, and finance costs, according to the company’s provisional financial statement.

Employee benefit expenses remained the largest cost head, accounting for nearly 38 per cent of the total spend.

These costs increased by 15 per cent, rising from Rs 535 crore in FY24 to Rs 618 crore in FY25.

The company also spent significantly more on commissions, which jumped from Rs 330 crore to Rs 556 crore.

Finance costs rose from Rs 154 crore to Rs 201 crore, while other operational expenses moved up slightly from Rs 141 crore to Rs 159 crore.

Despite the rise in costs, the Gurugram-based firm managed strong growth on the revenue front.

Operating revenue grew 41 per cent to Rs 1,410 crore in FY25 from Rs 1,001 crore in the previous year.

The company crossed the Rs 1,400 crore revenue mark for the first time, driven largely by its core businesses -- mortgages and real estate services -- which contributed 90 per cent of its income.

The remaining 10 per cent came from digital and interior products. Square Yards also reported a gross profit of Rs 316 crore in FY25, up 52 per cent from Rs 208 crore in FY24, with a gross margin of 22 per cent.

The firm reported a positive EBITDA of Rs 46 crore during the year and claimed to have remained operating cash flow positive.

The company’s gross transaction value (GTV) also saw impressive growth, rising more than 44 per cent to Rs 59,093 crore in FY25 from Rs 40,828 crore in FY24.

It handled 1.86 lakh transactions during the year across various real estate and mortgage services.

Reader Comments

R
Rajesh K.
The numbers show strong revenue growth but expenses are rising too fast! 32% increase in costs is worrying when revenue grew by 41%. Hope they can control employee and commission costs better. Real estate sector needs lean operations to survive market fluctuations.
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Priya M.
Used Square Yards to buy my flat last year. Their service was excellent but I noticed their agents were very aggressive with follow-ups. Now I understand why - those commission payouts doubled! 😅 Still, crossing ₹59,000 crore GTV is impressive for an Indian startup.
A
Amit S.
Positive EBITDA and cash flow is good news for investors. Many Indian startups burn cash for years without showing profits. At least Square Yards seems to have sustainable economics despite the cost pressures. The 22% gross margin is healthy for this sector.
S
Sunita R.
As someone in HR, I'm surprised by the 15% increase in employee costs. In current job market, most companies are controlling salaries. Maybe they hired more experienced professionals? Or gave big bonuses? Would love to know their employee retention strategy in this competitive space.
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Vikram J.
The finance costs increase from ₹154cr to ₹201cr is concerning. With interest rates stabilizing, why such jump? Are they taking more debt? Hope they're not over-leveraging in this hot real estate market. Otherwise, performance looks solid with 1.86 lakh transactions!
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Neha P.
Digital/interior products contributing 10% revenue is interesting! Shows they're diversifying beyond core business. Indian homebuyers now want end-to-end services. Smart move by Square Yards to capture this demand. Maybe they should expand this segment further? 🏡

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Square Yards Real Estate Financial Performance Indian Realty Corporate Earnings Expense Growth