Square Yards Q2 FY26 Revenue Jumps 43% to Rs 455.5 Cr; Turns EBITDA Positive

Square Yards has reported a strong performance in Q2 FY26 with revenue rising 43% year-on-year to Rs 455.5 crore. For the first half of FY26 (April–September 2025), revenue touched Rs 833.2 crore, up 44% YoY, while EBITDA stood at Rs 23 crore compared to a loss of Rs 49 crore in the same period last year.

The company recorded an incremental revenue increase of Rs 260 crore alongside an EBITDA improvement of Rs 72 crore, underscoring strong operating leverage and margin expansion.

Performance Highlights:

Financial services accounted for 60% of total H1 revenue, while the PropTech vertical is expected to accelerate in H2 with seasonal demand recovery and new product launches.
The India business, led by the fintech segment, grew 53% YoY and now contributes 85% of the total revenue.
Q2 gross profit surged 72% YoY with a 320+ basis point improvement in margins.
Q2 EBITDA improved from Rs -18 crore to Rs +19 crore, with segmental EBITDA margins at 11%, supported by technology upgrades and productivity gains.

“The results mark Square Yards’ fourth profitable quarter in a row, with trailing 12-month revenue surpassing USD 200 million and EBITDA over USD 13 million. The company’s best performing season is still ahead (H2), and our four-year revenue CAGR stands at an impressive 55%. These improvements in margins have come on the back of higher scale and improved productivity aided by the various tech and non-tech initiatives taken over the last 18 months.”, stated Tanuj Shori, Founder and CEO, Square Yards. Highlighting the company’s robust outlook for the year, he added, “we expect these improvements to continue in gross margins and EBITDA margins at the corporate level maintaining our historical growth rate of around 40–50% for the full year, supported by healthy margins.”

Square Yards reported a strong 75% year-on-year (YoY) growth in Gross Transaction Value (GTV) for Q2 FY26, primarily driven by continued momentum across its real estate and financial services segments. The company’s revenue grew 43% YoY, reflecting sustained business expansion, while gross profit rose sharply by 72% YoY, supported by a 320-basis points improvement in gross margin to 19%. Additionally, Segmental EBITDA increased by an impressive 255% YoY, underscoring operational efficiency and improved profitability.

Revenue growth across key segments remained robust in Q2 FY26. The company’s overall revenue increased 43% year-on-year, driven by strong momentum across its business lines. India operations led this growth with a 53% YoY rise in revenue, continuing to account for a dominant share of the company’s performance. Financial services remained a key growth engine, supported by healthy traction in real estate services and digital initiatives. India business (led by fintech) outgrew overall growth (53% Y-Y) and accounts for 85% of the overall pie.

Square Yards' impressive performance positions it for accelerated, long-term profitable growth and value creation in the coming quarters and beyond. With confidence in its financial outlook for the full fiscal year, the company firm is committed not only to continue driving revenue growth but also to achieving EBITDA positivity and generating positive operating cash flow. The firm's leading capabilities across the entire value chain, supported by comprehensive end-to- end solutions, deliver substantial value to both consumers and key industry stakeholders. Additionally, Square Yards is well-positioned to capitalize on a large, fragmented market opportunity, poised for significant growth driven by favourable tailwinds.