There’s this company called Square Yards that’s quietly been changing how we buy and sell homes. And now? They’ve officially stepped into the big leagues as India’s latest unicorn.
Remember when buying a house in India meant dealing with brokers who knew everyone but shared nothing, endless paperwork, and that nagging worry about whether you’re getting a fair deal. Square Yards started in 2014 with the idea of fixing exactly that. Founders Tanuj Shori and his wife Kanika Gupta Shori saw the mess firsthand. Tanuj came from investment banking – places like Standard Chartered and Lehman Brothers – and Kanika had that sharp wealth management background from Wharton. They weren’t just dreaming up an app; they were building something rooted in real pain points, especially for NRIs who wanted to invest back home without the drama.
What started as a platform focused on new residential properties has grown into a full-blown proptech and fintech powerhouse. They’ve got a strong presence beyond India now – UAE, Australia, Canada, and more – which brings in a solid chunk of their business. It’s smart because it taps into that global Indian dream of owning a piece back home.
In FY25, Square Yards hit ₹1,410 crore in revenue with an EBITDA of around ₹46 crore. Things kept rolling in FY26 – early reports show revenue jumping nearly 48% to over ₹2,000 crore for the full year, with EBITDA growing strong too. That’s real momentum in a sector that’s seen its share of ups and downs.
The latest boost came in late 2025 with a $35 million (about ₹312 crore) funding round led by South Korea’s Smilegate Investment, along with existing backers. It valued them at a pre-money $900 million. They’re in talks for more – possibly another $100 million mix of equity and debt – which would comfortably push them over the $1 billion unicorn mark. And get this: they’re gearing up for an IPO in 2026, aiming to raise around ₹2,000 crore. It feels like the perfect next chapter.
Tanuj and Kanika have built a culture that’s about transparency and making the biggest purchase of your life a little less stressful. No hidden commissions in some models, better data for decisions, AI helping match you with the right property, and smooth end-to-end support. In a country where homeownership is such a huge emotional and financial milestone, this matters. They’ve scaled to hundreds of employees and operations across dozens of cities, yet they still talk like people who remember the early struggles.
Of course, it’s not all smooth sailing. The real estate market has its cycles – regulatory changes, affordability challenges for young buyers, and tough competition from other platforms. But Square Yards has carved out strength in primary sales, NRI clients, and blending real estate with financial services. That diversification gives them resilience.
Sitting back and thinking about it, this unicorn moment is bigger than one company. It shows how technology can breathe fresh life into one of India’s oldest industries. Urbanization is only speeding up, millions more will need homes, and platforms that actually simplify things while staying profitable are going to lead the way. Square Yards isn’t chasing vanity metrics; they’ve focused on capital efficiency and sustainable growth from day one.
For anyone dreaming of starting something, their journey is pure inspiration. From a small setup in Gurugram to serving clients worldwide, spotting the NRI opportunity early, and now prepping for public markets – it’s proof that deep understanding of your space plus steady execution wins. Kanika balancing that with family and leadership adds such a relatable touch too.
As we sip our evening chai and scroll through property dreams, it’s nice knowing companies like this exist. They’re making the process fairer, smarter, and more accessible. Whether you’re a first-time buyer in Bangalore, an investor in Dubai eyeing Mumbai, or a family upgrading in Delhi, Square Yards is trying to have your back.
The road to IPO will have its tests, but if their track record holds, this could be a landmark listing for Indian proptech. Here’s hoping it inspires more innovation that actually helps everyday people. Because at the end of the day, it’s not just about valuations and funding – it’s about more Indians finding their perfect home without the usual stress.
Sources:
- Economic Times coverage on the $35M funding and unicorn path (Nov 2025)
- Entrackr and Inc42 reports on financials, IPO plans, and growth
- Company updates and founder profiles from Square Yards channels and interviews
- Online Marketplaces and Tracxn for detailed revenue and valuation insights
- Various industry analyses from 2025-2026
