Square Yards is set to file its DRHP for a Rs 2,000 Cr IPO between December 2025 and March 2026, targeting a unicorn valuation with a mix of fresh issue and OFS.
The proptech startup is finalising investment bankers and is yet to confirm whether it will file the DRHP via the confidential route or the regular route.
Founded in 2014 by Tanuj Shori and Kanika Gupta Shori, Square Yards operates across the entire real estate lifecycle, from property search and financing to interiors and property management. The company also generates over 25% of its revenue from international markets such as the Middle East, Australia, and Canada.
In FY25, Square Yards reported Rs 1,400 Cr in operating revenue and Rs 316 Cr in gross profit. It is targeting Rs 2,000 Cr in revenue and Rs 200 Cr in EBITDA for FY26. The startup last raised funds in 2019 from investors including Bennett Coleman & Co Ltd (BCCL), Genkai Capital, ADM Capital, and Reliance Group, at a valuation of around $300 Mn.
