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

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.

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.

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