Full-stack property technology platform Square Yards has officially entered the unicorn club after securing a massive ₹900 crore ($95 million) funding round. The fresh capital injection bolsters the company’s balance sheet as it aggressively targets the public markets.

The Gurugram-headquartered firm is eyeing a public market debut later in the current financial year, backed by a massive acceleration in revenue and a push into sustainable profitability.

1. The Unicorn Fundraise & Pre-IPO Financials

The fresh ₹900 crore capital raise comprises roughly one-third equity and two-thirds structured debt. EAAA India Alternatives led the equity tranche, while global corporate credit manager Muzinich & Co. anchored the debt component.

  • The $1 Billion Milestone: The round explicitly values Square Yards above $1 billion, up from its previous $900 million pre-money valuation in late 2025.
  • War Chest Expansion: The firm is already in advanced discussions to raise an additional $50 million to $60 million over the next quarter, which could push its pre-IPO valuation closer to $1.6 billion.
  • EBITDA Surge: For the fiscal year ending March 2026 (FY26), revenue jumped 48% year-on-year to reach ₹2,086 crore. Crucially, adjusted EBITDA skyrocketed by 269% to ₹176 crore, expanding operational margins from 3% to 8%.

2. Navigating Toward the ₹3,000 Crore Revenue Target

To comfortably secure co-founder and CEO Tanuj Shori’s target public market valuation, Square Yards’ management has mapped out an aggressive FY27 trajectory.

The company is guiding for an additional 40%+ revenue expansion in the current fiscal year. This trajectory is designed to comfortably clear the ₹3,000 crore revenue milestone ahead of its official listing, accompanied by a projected doubling of its current EBITDA margins into double-digit territory.

Plaintext

[ SQUARE YARDS THREE-YEAR FINANCIAL TRAJECTORY ]

Operating Revenue:
├── FY25:  ~₹1,409 Crore
├── FY26:   ₹2,086 Crore (Actual)
└── FY27:  ~₹3,000 Crore+ (Target)

EBITDA Performance:
├── FY25:   ₹48 Crore (3% Margin)
└── FY26:   ₹176 Crore (8% Margin)

3. The Multi-Segment PropTech & Fintech Engine

Square Yards has outgrown its legacy identity as a simple digital property broker, building an integrated property value chain that spans multiple high-margin financial and ancillary verticals:

  • Urban Money (Fintech Arm): The group’s mortgage and lending marketplace has emerged as a primary growth driver, facilitating a record ₹87,831 crore ($9.4 billion) in loan disbursements in FY26 through a vast network of over 150 banks and NBFCs.
  • Core Property Brokerage: Driven heavily by a booming domestic real estate sector, India operations expanded 57% year-on-year and now account for 88% of total group revenue. The platform successfully onboarded over 273,000 new transacting consumers in the last fiscal year alone.
  • Ancillary Ecosystems: The platform’s integrated wings continue to scale, including property management and rentals under the Azuro brand, alongside turnkey modular home furnishing and interior design executed by Interior Company.

By pairing the asset-light scaling profile of its software-led fintech engine with a booming luxury and primary real estate market, Square Yards is positioning itself alongside Aurum Proptech as one of the few institutionalized proptech enterprises in India to transition into deep, self-sustaining profitability ahead of its IPO.

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