Square Yards, one of India’s leading proptech platforms, is preparing to raise ₹2,000 crore through an initial public offering (IPO), targeting a valuation between $1.5–2 billion, according to sources familiar with the matter.
Headquartered in Gurugram, the company is currently in the process of appointing investment bankers and is expected to file its Draft Red Herring Prospectus (DRHP) within the current financial year.
The proposed ₹2,000 crore IPO will be equally divided between primary and secondary components. A significant portion of the capital raised will be allocated toward providing exits for early investors and reducing the company’s debt burden.
Founded in 2013, Square Yards has emerged as a full-stack real estate technology platform offering property discovery, buying and selling, mortgage assistance, rentals, interior furnishing, and property management. Today, the company operates in over 100 cities across nine countries, supported by a robust network of 150,000 agent partners.
According to startup data platform TheKredible, Square Yards has raised a total of $200 million to date, with Reliance Group being its largest institutional backer, holding an 8% stake.
Sources indicate that the company’s founders are likely to retain more than 50% ownership even after the IPO, signaling long-term confidence in its vision and growth potential.
Square Yards is projecting ₹2,000 crore in revenue and ₹200 crore in EBITDA by the end of FY26. In FY25, the company reported a strong 40.9% year-on-year growth in operating revenue, reaching ₹1,410 crore, while its gross profit jumped by 51.9% to ₹316 crore, compared to ₹208 crore in FY24.
With strong fundamentals, rapid expansion, and a clear plan to scale, Square Yards is positioning itself as a major force in the future of tech-driven real estate in India.
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