New Delhi, Mar 29 (ANI): At a time when most online real estate players have been struggling, Square Yards has announced its doubled revenue run rate, which is likely to cross Rs. 200 crore in gross revenues from Rs. 100 crore in a span of six months.
In the last six months, Square Yards achieved operational break even, launched a broker aggregation platform, significantly enhanced its tech and marketing capabilities and scaled its International presence to countries.
The team size has also swelled to 1000+ employees. Square Yards now estimate around 600 to 700 transactions a month with a value of Rs. 350+ crore each month. This puts Square Yards on pedestal with top developers in India on the ability to move such sizeable real estate volumes.
“Square Yards has been very successful in striking structured deals and exclusive tie-ups with real estate developers across the globe. From an end user or a property investor point of view, the two prime factors involved in decision making are the price and quality,” said Co-founder and Principle Partner, Squareyards, Vivek Agarwal.
“This focused approach has worked very well for the company and has achieved great results. Structured products now form 60 to 70 percent of its monthly transactions,” added Vivek Agarwal.
Square Yards knows first-hand the problem that small and unorganized real estate brokers face and the vast opportunity that lies in aggregating the demand from them.
It launched its mobile based aggregation platform, Square Connect app a couple of months ago to help everyone in the channel earn more commission through higher volume based slabs from the developers. Brokers who have enrolled for the program have seen a 25 percent jump in their monthly earnings.
The program has been witnessing a stupendous success and has played an instrumental role in the growth story of Square Yards. So far over 20,000+ real estate brokers across 15 different cities have signed up for the Square Connect program.
Focusing on the supply chain and performance on actual business metrics rather than the vanity factors, the company plans to capture 15 percent share in primary residential sales in India over the next five years.
A significant component of growth strategy would be driven through Square Connect, wherein it plans to add 200,000 brokers in next three to five years and Global project marketing, where it plans to replicate its success in India primary market.ck on the same. (ANI)