The real estate market in India is huge and growing rapidly. Earlier it was not that organized and even different technical things together were not able to completely solve the problems of this sector. Seeing this shortcoming, Tanuj Shori and his wife Kanika Gupta Shori thought why not create a platform where everything from finding a property to buying and selling, taking a loan and after-sales services are available at one place. With this thought, Square Yards was started in 2014. The aim of this company was to provide a single solution to all the major problems of real estate.
Today Square Yards has become a big company, which has done a turnover of Rs 1,417 crore last year (FY 2025). In the last four years, this company has grown by an average of more than 55% every year. Square Yards’ success is attributed to its use of new technology, customer focus, and bringing the entire real estate process under one roof.
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The beginnings and difficulties of Square Yards
Tanuj Shori, who studied at IIM Lucknow and previously worked in a senior position at Nomura, started Square Yards along with his wife Kanika Gupta Shori (who is a Wharton alumnus and has worked in the banking and entertainment sectors). Together, they built a large team of 20 people, one of the largest teams in the Indian startup world.
Initially, Square Yards faced several challenges, such as:
- Recovering money from people (dues)
- Working with people who could not be trusted
- Flaws in the way properties were sold
- It was difficult to get good people to work for the company due to people’s negative opinion about real estate
These difficulties helped Square Yards become a company that is always ready for change. Tanuj Shori says, “We created Square Yards to simplify and digitize the entire real estate process. We adopted the best practices of the world, but designed them keeping in mind the challenges of India and other developing countries, especially the lack of transparency and reducing the gap between buyer and builder.”
Square Yards Strategy: Four Key Factors
Square Yards has divided its services into four main components that have been the foundation of its success:
PropTech / Core Real Estate Services:
Square Yards is a platform for buying and selling new and used (first-time and resale) properties. The company sells over $1.5 billion worth of properties each year through its agents and earns an average brokerage of over 5% per sale. Their technology includes property investment scores, automated pricing, instant property blocking, and digital transaction tools.
FinTech Services:
The company’s fintech arm, Urban Money, offers home loans, loan against property (LAP), personal and business loans, and insurance. It earns money on a commission basis from financial institutions. Last year (FY25), Urban Money helped in disbursing loans worth Rs 61,000 crore, making it one of the largest digital mortgage platforms in the country.
Interior Design and Home Furnishing:
Square Yards Interior Company is a technology platform that helps in interior design and home renovation. It shows in 3D how the design will look, gives instant cost estimates and allows tracking of the project. So far it has designed and delivered more than 5,000 homes.
Digital Services and Products:
Square Yards has created several digital products and services, such as:
PropVR: It is an AI (Artificial Intelligence) based virtual reality platform that gives the experience of viewing property digitally.
Azuro: It is a property management platform for collecting rent money, inspecting the house and requesting repairs.
Square Connect: It is a mobile platform for real estate brokers, financial institutions and online companies.
PropsAMC: It brings rental-yielding commercial and residential properties to investors and helps developers raise loans and mezzanine capital.
Financial growth and market impact
Square Yards’ revenue grew 40% to Rs 1,417 crore last year (FY25) from Rs 1,009 crore in the previous year. The company’s gross transaction value (GTV) also grew 45% to Rs 59,093 crore. Over the last four years, the company has grown by an average of over 55% every year and is now making a profit by reducing its EBITDA loss.
Square Yards has shifted its focus from expensive properties to first-time homebuyers. This is not only a large market, but also has the potential to sell a lot more. The company has built good relationships with large and reputed builders (grade-A developers), who account for 85% of the company’s business.
With urban population growing at 2.17% per year, disposable income in India expected to grow by 14.5% in 2023, and the middle class population expected to reach 38% by 2031, these factors provide a huge opportunity for proptech companies like Square Yards to grow.
Tech innovation: Square Yards’ tech infrastructure
Square Yards has over 1 million property listings and 100,000 projects from over 2,000 builders on its website. These listings help over 8 million property buyers. The company’s tech infrastructure is its digital strength.
Data intelligence tools: The company uses property registration data to help with pricing and negotiation strategies.
Digital transactions: Instant property data, e-escrow services, secure payment gateways, digital signatures, and instant loan approvals.
Credit bureau integration: Instead of paperwork, Square Yards pulls data directly from credit records, making loan approvals faster and better assessing risk.
3D visualization and geospatial intelligence: The company is building digital twins of major cities in India and the Middle East, making property search easier and more engaging.
Machine learning: Creates personalized experiences for customers based on their behavior and preferences.
Square Yards has partnered with major tech companies and has applied for 16 patents in virtual reality (VR) and artificial intelligence (AI), five of which have been approved.
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Future plans
Tanuj Shori says, “Our plan going forward is based on a simple thought: ‘Become better at what we are doing.’” Over the next 1-2 years, the company will focus on turning a profit, building strong relationships with builders and banks, and new technology. Square Yards plans to achieve good EBITDA margins in the next 2-3 years and make more use of AI-based tools like Sales Copilot.
The company currently serves 100 cities in 9 countries and is looking to enter resale property transactions as well. “In the long term, Square Yards wants to become India’s largest and most technologically advanced real estate and financial services platform,” says Shori.
Frequently Ask Question (FAQs)
- What is Square Yards and what services does it offer?
- Square Yards is a proptech company that offers services such as property buying, home loans, interior design and property management.
- What is the main source of income for Square Yards?
- The company earns money from brokerage fees, transaction fees, commissions on loans, and interior design and property management services.
- How did Square Yards grow so fast?
- The company grew rapidly by using new technology, building good relationships with builders, and focusing on first-time homebuyers.
- What are the technical features of Square Yards?
- It uses technologies such as 3D visualization, real-time data, digital transactions, AI-based VR, and machine learning.
- What is Square Yards’ future goal?
- The company aims to become India’s largest and most technologically advanced real estate and financial services platform.
- The company aims to become India’s largest and most technologically advanced real estate and financial services platform.
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