Square Yards (company)

Square Yards
Company typePrivate
IndustryProptech, Real estate, Fintech
Founded2014
FoundersTanuj Shori, Kanika Gupta Shori
HeadquartersGurugram, Haryana, India
Area served
Global (primarily India, UAE, Canada, Australia)
Key people
Tanuj Shori (CEO)
Revenue₹ 1,410 crore (FY2025)
Number of employees
c. 8,000 (2025)
SubsidiariesUrban Money, Interior Company, Azuro, PropsAMC
Websitewww.squareyards.com

Square Yards is an Indian real estate and financial technology company headquartered in Gurugram. Its operations include real estate brokerage, mortgage aggregation, and the development of property management software.[1] The company operates in India, the United Arab Emirates, Australia, and Canada.[2]

History

Founded in 2014 by Tanuj Shori and Kanika Gupta Shori,[3] the company initially focused on primary residential sales and the non-resident Indian (NRI) market in the Persian Gulf.[4] Early venture capital included a $6 million pre-Series A round in 2015 from Singapore and Hong Kong investors.[5][6]

The company entered the mortgage sector between 2016 and 2019, eventually consolidating these operations under the Urban Money brand.[7][8]

During the COVID-19 pandemic, the company expanded into the home interior and rental management sectors via its subsidiaries Interior Company and Azuro.[9] Its software-as-a-service (SaaS) platform, Edge, was released in 2019 for third-party real estate sales management.[10]

In January 2022, Mint reported that Square Yards had begun preparations for an initial public offering, appointing Axis Capital as lead banker.[11] In July 2025, Inc42 reported that the company planned to file a Draft Red Herring Prospectus (DRHP) for an IPO targeting.[12]

Acquisitions

In 2015, Square Yards acquired LUXE, a property agency based in Singapore,[13] and the Indian property search portal Realizing.in, which was integrated into its platform.[14]

The company later acquired Oryden Tech Labs.[15] In 2020, Square Yards acquired Azuro, a Mumbai-based rental housing and property management company.[9] In 2021, it acquired PropVR, a 3D visualisation platform,[16] as well as PropsAMC, a real estate data and analytics firm.[17]

Funding and financials

Total equity funding as of 2025 is approximately $140 million, with backing from Reliance Group, BCCL, and Smilegate Investment.[18] In late 2025, it closed a $35 million round led by Smilegate.[19] For the fiscal year ending March 31, 2025, the company reported revenue of ₹1,410 crore and an EBITDA of ₹46 crore.[20]

Awards and recognition

See also

References

  1. ^ Chopra, Arushi (2016-12-13). "Square Yards targets overseas sales to supply 30% of revenue". mint. Retrieved 2026-02-28.
  2. ^ Kamal, Priyanshu. "Square Yards crosses Rs 1,400 Cr revenue in FY25, gross profit surge 52%". entrackr.com. Retrieved 2026-02-03.
  3. ^ Bradshaw, Della (May 10, 2018). "MBA graduates head back to business school". Financial Times. Retrieved 2026-02-03.
  4. ^ "Brief History of Square Yards Company". Canvas Business Model. 24 July 2025. Retrieved 3 February 2026.
  5. ^ Prasad, Priya (2016-11-09). "Property search aggregator Square Yards raises $12 mn". Techcircle. Retrieved 2026-02-03.
  6. ^ Dhanjal, Swaraj Singh (2022-01-03). "Proptech startup Square Yards plans to go public | Company Business News". mint. Retrieved 2026-02-28.
  7. ^ "Square Yards forays into fintech with mortgage arm Square Capital". Business Standard. July 26, 2016.
  8. ^ Putzier, Konrad (2017-07-10). "Black's money: A bizarre co-working scheme and the global rise of online real estate fraud". The Real Deal. Retrieved 2026-02-03.
  9. ^ a b Rawat, Aman (2020-02-06). "Square Yards Acquires Azuro To Tap Property Rental, Management Biz". Inc42 Media. Retrieved 2026-02-03.
  10. ^ Athavale, Om (2019-06-19). "Reliance Group-backed Square Yards rolls out AI platform for real-estate sales and marketing". Techcircle. Retrieved 2026-02-03.
  11. ^ Dhanjal, Swaraj Singh (3 January 2022). "Proptech startup Square Yards plans to go public | Company Business News". Mint.
  12. ^ Sil, Debarghya (2025-07-07). "Exclusive: Square Yards To File DRHP For INR 2,000 Cr IPO By March 2026". Inc42 Media. Retrieved 2026-02-28.
  13. ^ Sapam, Bidya (2015-06-24). "Square Yards acquires Singapore-based property consultant LUXE Real Estate". mint. Retrieved 2026-02-03.
  14. ^ Chathurvedula, Sadhana (2015-06-16). "Square Yards acquires Realizing.in". mint. Retrieved 2026-02-03.
  15. ^ Babar, Kailash (October 19, 2015). "Realty startup Square Yards acquires Oryden Tech Labs". The Economic Times. Retrieved 2026-02-03.
  16. ^ Bhatla, Prabhjeet (2021-03-18). "Square Yards Acquires AI-based 3D Visualization Platform PropVR | Entrepreneur". Entrepreneur. Archived from the original on 2025-09-14. Retrieved 2026-02-03.
  17. ^ "Square Yards acquires PropsAMC". The Economic Times. February 19, 2021. Retrieved 2026-02-03.
  18. ^ Soni, Yatti (2019-09-19). "Square Yards Raises $20 Mn From BCCL, Genkai Capital And Others". Inc42 Media. Retrieved 2026-02-03.
  19. ^ Ramanan, Arundathi (2025-12-06). "Square Yards nears unicorn status with $35 million fundraise, eyes larger $100 million round - CNBC TV18". CNBCTV18. Retrieved 2026-02-03.
  20. ^ Haidar, Faizan (2025-05-16). "Square Yards reports Rs 1,410 crore revenue in FY25". The Economic Times. ISSN 0013-0389. Retrieved 2026-02-03.
  21. ^ Kelly, Maxine (April 21, 2020). "FT ranking: Asia-Pacific High-Growth Companies 2020". Financial Times. Retrieved 2026-02-03.
  22. ^ Kelly, Maxine (March 31, 2021). "FT ranking: Asia-Pacific High-Growth Companies 2021". Financial Times. Retrieved 2026-02-03.
  23. ^ Bell, Amy (March 17, 2022). "FT ranking: Asia-Pacific High-Growth Companies 2022". Financial Times. Retrieved 2026-02-03.
  24. ^ Kilby, Nathalie (March 15, 2023). "FT ranking: High-Growth Companies Asia-Pacific 2023". Financial Times. Retrieved 2026-02-03.
  25. ^ "FT ranking: High-Growth Companies Asia-Pacific 2025". Financial Times. March 18, 2025. Retrieved 2026-02-03.
  26. ^ "Forbes India DGEMS'25 - Select 200 Companies With Global Business Potential". Forbes India. Retrieved 2026-02-03.
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