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Square Yards reports Rs 378 Cr revenue in Q1 FY26, turns EBITDA positive

EntrackrEntrackr · 2m ago
Square Yards reports Rs 378 Cr revenue in Q1 FY26, turns EBITDA positive
Medial

Square Yards reports Rs 378 Cr revenue in Q1 FY26, turns EBITDA positive Square Yards, the Gurugram-based integrated real estate and mortgage platform, reported a 45% year-on-year rise in revenue and swung to profitability at the EBITDA level for the quarter ending June 2025. The company’s revenue from operations grew 45% to Rs 378 crore in Q1 FY26 from Rs 260 crore in Q1 FY25, according to the company’s press release. Square Yards is a proptech platform that provides end-to-end real estate services, including property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. Square Yards operates in more than 100 cities across nine countries, as per the release. Revenue contributions rose across real estate, financial services, and home renovation segments, while digital products saw a decline. Notably, financial services surged 60% year-on-year, followed by 36% growth in real estate and 21% in home renovations. Square Yards facilitated 55,771 transactions with a Gross Transaction Value (GTV) of Rs 18,480 crore during the quarter. Revenue from India contributed Rs 340 crore, marking a 57% year-on-year growth. The improved operating leverage helped Square Yards record its first-ever profitable quarter. Gross profit nearly tripled to Rs 70 crore in Q1 FY26 from Rs 24 crore in the same period last year, with margins improving to 18% from 9%. Segmental EBITDA stood at Rs 38.2 crore with a 10% margin, while overall EBITDA turned positive at Rs 4.4 crore against a loss of Rs 33.7 crore a year ago. “We are delighted to deliver our strongest-ever first quarter performance, marking a historic milestone for Square Yards. With revenue growing 45% year-on-year and gross profit nearly tripling, this quarter reflects the strength of our operating model,” said Tanuj Shori, Founder and CEO of Square Yards. As per sources, Square Yards is eyeing to raise Rs 2,000 crore through an initial public offering (IPO) at a valuation of $1.5–2 billion. The firm is likely to file its Draft Red Herring Prospectus (DRHP) during the current financial year.

Sterling Accuris’ revenue surpasses Rs 200 Cr in FY25, turns EBITDA positive

EntrackrEntrackr · 18d ago
Sterling Accuris’ revenue surpasses Rs 200 Cr in FY25, turns EBITDA positive
Medial

Sterling Accuris’ revenue surpasses Rs 200 Cr in FY25, turns EBITDA positive Sterling Accuris Diagnostics managed 22% YoY growth in its operating scale during the fiscal year ending March 2025. Significantly, the Ahmedabad-based firm also narrowed its losses and turned EBITDA positive during the last fiscal year. The company’s revenue from operations grew to Rs 198 crore in FY25 from Rs 162 crore in FY24, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. Founded in 2014, Sterling Accuris Diagnostics offers over 2,000 tests through around 150 labs and collection centers across four states, with testing services as its sole source of revenue. The firm made additional Rs 4 crore from non-operating sources which drove its total income to Rs 202 crore in FY25 from Rs 169 crore in FY24. When it comes to spending, employee benefits were the largest expense at Rs 52 crore, increasing 18% from Rs 44 crore in FY24, followed by material costs at Rs 45 crore and doctor and pathologist fees at Rs 40 crore. Depreciation charges stood at Rs 19 crore, while finance cost was Rs 6 crore in the last fiscal year. Overall, Sterling Accuris Diagnostics’ total expense increased by 14% to Rs 221 crore in FY25 from Rs 194 crore in FY24. With revenue outpacing expense growth, the firm controlled its loss by 15% to Rs 23 crore in FY25 from Rs 27 crore in FY24. Importantly, it posted a positive EBITDA of Rs 5.5 crore in FY25 with EBITDA margin improving to 2.72% from -0.59%. Sterling Accuris Diagnostics’ ROCE stood at -7.07%. On a unit basis, Sterling Accuris spent Rs 1.12 to earn a rupee in FY25, an improvement from Rs 1.20 in FY24. As of March 2025, the company recorded current assets worth Rs 52 crore in FY25 including Rs 22 crore in cash and bank balances. According to TheKredible, Sterling Accuris has raised a total of $33 million of funding till date. Its lead investors are Morgan Stanley, holding a 35.64% stake, and Udhay Vi Realty, with a 17%.

Square Yards posts Rs 261 Cr revenue in Q1 FY25; projects Rs 1,500 Cr in FY25

EntrackrEntrackr · 1y ago
Square Yards posts Rs 261 Cr revenue in Q1 FY25; projects Rs 1,500 Cr in FY25
Medial

Proptech firm Square Yards has announced its results for the first quarter of the ongoing fiscal year. The Gurugram-based company saw a 52% increase in its revenue during Q1 FY25 compared to Q1 FY24. Square Yards’ revenue from operations surged to Rs 261 crore in Q1 FY25, with a gross transaction value of Rs 10,053 crore, compared to Rs 172 crore in revenue and a gross transaction value of Rs 6,674 crore in Q1 FY24, the company said in a press release. In the fiscal year ending March 2024, the company reported revenue of Rs 1,004 crore with EBITDA profitability. However, the net losses of Square Yards stood at Rs 216 crore FY24. Income from financial services along with real estate services formed 83% of the total operating revenue for Square Yards which increased 48% and 61% YoY respectively. The press release added that its digital services also saw an impressive growth of 145% in the same period. Square Yards is a full-stack proptech platform, playing the entire consumer journey including search, discovery, transactions, mortgages, home furnishing, rentals, and property management. The company claims to have more than 8 million monthly traffic and approximately $5 billion GTV with a presence in more than 100 cities across 9 countries. In the first quarter of the current fiscal year (Q1 FY25), Square Yards reported a gross profit of Rs 25 crore with a negative EBITDA margin of Rs 32 crore, compared to a gross profit of Rs 15 crore and a negative EBITDA margin of Rs 29 crore in Q1 FY24. The company has projected Rs 1,506 crore revenue in the full year of FY25 up from Rs 1,004 crore in FY24 with a positive EBITDA of Rs 101 crore.

Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable

EntrackrEntrackr · 2m ago
Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable
Medial

Exclusive All Stories Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable Full-stack agritech platform BigHaat Agro posted a flat scale with single-digit year-on-year growth in the fiscal year ending March 2025. However, the Bengaluru-based company managed to narrow its losses by over 25% during the last fiscal year. According to its co-founder Sateesh Nukala, BigHaat has crossed the Rs 1,100 crore revenue threshold in FY25 from Rs 1,050 crore in FY24. BigHaat’s revenue split consists of 85% of revenue coming from farm produce sales, with agri-inputs, which is direct to farmers, and digital only contributing 15%. The platform now counts 3 million monthly active farmers and reported 15% gross margins in FY25, said Nukala in an interaction with Entrackr. Nukala highlighted that exports and advanced processing, a high-margin vertical launched in FY25, now contribute 20% to its monthly revenue. “We have reduced our net loss to Rs 25 crore in FY25 from Rs 35 crore in FY24 and turned EBITDA positive for the last three quarters,” said Nukala. He also added that BigHaat is among the few agritech startups to achieve profitability at scale with 6x revenue-to-capital efficiency. As per Nukala, the company is targeting Rs 1,400 crore in FY26, with spices emerging as a key growth driver. “We are also open to acquisitions of new brands to strengthen our portfolio,” he emphasized. BigHaat has raised around $25 million to date. In January 2022, it raised Rs 100 crore led by JM Financial. Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and others are some notable investors for the firm. This contrasts with larger peers. DeHaat, India’s most valued agritech startup, clocked Rs 2,675 crore revenue in FY24 but with losses of over Rs 240 crore. Ninjacart, backed by Walmart and Flipkart, crossed Rs 2,000 crore revenue in the same fiscal but recorded a Rs 259.6 crore loss. By combining steady topline growth, improving margins, and sustained EBITDA profitability, BigHaat is positioning itself as one of the few agritech ventures balancing scale with financial discipline, while many peers continue to burn capital at larger scales.

BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr

EntrackrEntrackr · 1m ago
BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr
Medial

BharatPe’s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Fintech unicorn BharatPe witnessed a turnaround in the previous fiscal year as it recorded steady growth in scale while achieving EBITDA profitability. The company also managed to significantly cut down its losses, which shrank by over 80% during FY25. BharatPe’s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Service fee income, which includes processing charges, commission on loan transactions, and rental income from the sale of machines and loudspeakers, remained the largest revenue driver for BharatPe, contributing 77.6% of operating revenue. This stream grew 15.8% year-on-year to Rs 1,456 crore in FY25. Revenue from the NBFC business rose to Rs 211 crore in FY25 from Rs 165 crore in FY24. Moreover, the company booked Rs 67 crore in non-operating income, pushing its total revenue to Rs 1,734 crore during the year. For BharatPe, transaction processing expenses accounted for 20.8% of the overall cost base at Rs 391 crore in FY25. Employee benefits remained steady at Rs 360 crore, which includes Rs 148.5 crore as ESOP (share-based payments). Its advertising spend saw a sharp 84% reduction to Rs 26 crore during the year. Other overheads, including outsourced services, merchant onboarding, and IT expenses, pushed the company’s total expenditure to Rs 1,876 crore in the fiscal year ending March 2025. The decent growth in scale, coupled with an effective cost mechanism, helped BharatPe to reduce its losses by 82.1% to Rs 88 crore in FY25 from Rs 492 crore in FY24. Notably, BharatPe reported a positive EBITDA of Rs 47 crore in FY25. Stripping out ESOP-related expenses, the company’s adjusted EBITDA would stand at Rs 195.5 crore for the year. BharatPe’s ROCE and EBITDA margins also improved to -3.8% and 2.82% respectively, in FY25. On a unit level, it spent Rs 1.13 to earn a rupee in FY25. At the end of the previous fiscal year, the company had total current assets of Rs 2,685 crore with cash and bank balances of Rs 872 crore. Earlier this month, BharatPe facilitated its first secondary transaction since 2021 at a valuation of $2.85 billion. To date, the fintech unicorn has raised over $650 million in equity and debt from investors such as Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue, and others.

M League earns Rs 560 Cr from overseas in FY25, turns profitable

EntrackrEntrackr · 1m ago
M League earns Rs 560 Cr from overseas in FY25, turns profitable
Medial

M League earns Rs 560 Cr from overseas in FY25, turns profitable According to its consolidated financial statements filed with Singapore’s ACRA, M League’s revenue from operations surged to Rs 1,423 crore ($166.7 million) in FY25 from Rs 1,092 crore ($127.9 million) in FY24. M League, the parent company of Mobile Premier League (MPL), has recorded one of its strongest financial performances in FY25, clocking over 30% year-on-year growth and turning profitable at the group level. The turnaround, however, comes at a time when the company has had to shut down its real-money gaming (RMG) operations in India. Gaming remained the primary revenue driver, contributing $165.8 million, while the rest came from advertising and other operating activities. India was the largest market, accounting for around 60% of total revenue, followed by Europe and the US. Its German subsidiary, GameDuell Studios, a wholly owned unit, contributed nearly $60 million revenue in FY25. Advertising formed the largest expense, making up 42% of the total and rising 32.8% to $70 million. The company managed to trim employee benefit expenses by 20.5% to Rs 364 crore, while other operating costs, including payment gateway, server hosting, and professional fees, pushed total expenditure to $166.2 million (Rs 1,419 crore) in FY25. M League reported a net profit of $4.2 million (Rs 36.5 crore) in FY25, a sharp turnaround from a loss of $44.8 million (Rs 383 crore) in FY24. Its EBITDA margin turned positive at 2.45% during the last fiscal year. While FY25 marked a milestone year, the company’s outlook in India remains uncertain after the government’s move to outlaw real-money gaming. A company spokesperson told Entrackr that the latest results highlight the benefits of M League’s diversified strategy. “We didn’t put all our eggs into the India RMG basket. We have bought ourselves time and can act from a place of near-EBITDA breakeven at a group level while continuing to invest in growth areas such as GameDuell, Xsquads, and other ventures,” the spokesperson added. GameDuell grew 64% during FY25, while M League had already made early inroads into the US and Brazil by March 2025. International expansion is part of the company’s long-term vision to host a digital Olympics with players from across nations. M League maintained that its global portfolio gives it the flexibility to balance investment and returns. GameDuell has been profitable for years despite its rapid growth, and at the group level, M League has the ability to generate EBITDA whenever it chooses. M League refrained from sharing near-term projections, stating that it is too early to forecast annualized revenue after shutting down its India operations.

Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT

EntrackrEntrackr · 1y ago
Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT
Medial

Online travel aggregator (OTA) Ixigo’s revenue from operations grew 26% to Rs 206.47 crore in Q2 FY25 as compared to the same quarter of FY24. The growth was steered by the flight and bus segment. The flight gross transaction value grew by 43% YoY, while the bus GTV increased by 46%. The company’s contribution margin also improved by 24% to Rs 91.08 crore in Q2 FY25, compared to Rs 73.67 crore in Q2 FY24, the company said in a stock exchange filing. However, the contribution margin as a percentage of revenue from operations slightly decreased from 45% in Q2 FY24 to 44% in Q2 FY25. The Gurugram-based company generated the majority (53.5%) of its operating revenue from train ticketing amounting to Rs 110.4 crore in Q1 FY25. Flight and bus booking services contributed 27% and 19.3% to the company’s coffers, respectively. The firm’s operating expenses rose in Q2 FY25, reflecting increased investments in growth. Employee expenses and marketing costs contributed to this spike, which was necessary to support the company’s expansion in user acquisition and market penetration. Despite the rise in costs, EBITDA saw a sharp increase of 655%, reaching Rs 22.4 crore in Q2 FY25, compared to Rs 2.96 crore in Q2 FY24. Adjusted EBITDA also jumped 326% to Rs 20.99 crore in Q2 FY25. Ixigo profit after tax (PAT) declined by 51%, from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25. This decline was primarily due to a deferred tax charge of Rs 5.26 crore in Q2 FY25.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 1m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
Medial

Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 4m ago
Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25
Medial

Smartworks, a leading managed workspace platform, reported a 32% growth in operating revenue to Rs 1,374 crore in FY25. However, despite the strong topline growth, the company’s losses widened 26% in FY25. Smartworks’ revenue from operations increased by 32% to Rs 1374 crore in FY25 from Rs 1039 crore in FY24, according to its financial statement sourced from RHP. SmartWorks provides flexible office space for large enterprises, SMEs, and high-growth startups and leverages its robust phygital platform to deliver fully serviced, tech-enabled, flexible, and affordable workspaces. Lease rentals accounted for over 93% of its operating revenue, which rose by 29% to Rs 1,289 crore in FY25. Other sources included design and fit-out services at Rs 35 crore, ancillary services at Rs 49 crore, and a marginal Rs 1 crore from software fees. Smartworks added another Rs 36 crore from non-operating sources, which pushed its total revenue to Rs 1410 crore in FY25. On the expense side, the largest cost head was depreciation, which increased 35% to Rs 636 crore, followed by operating expenses of Rs 416 crore. Finance costs remained relatively stable at Rs 336 crore, while employee benefit expenses rose to Rs 65 crore. Overall, total expenses increased by 26% to Rs 1,489 crore in FY25 from Rs 1,180 crore in FY24. Despite revenue growth, the company’s loss increased by 26% to Rs 63 crore in FY25 as compared to Rs 50 crore in FY24. However, the company reported a positive EBITDA of Rs 893 crore in FY25 with an EBITDA margin of 63.3% and ROCE of 7.48%. On a unit level, Smartworks spent Rs 1.08 to earn a rupee of operating revenue in FY25, marginally better than the previous year’s ratio of Rs 1.14. The Gurugram-based company reported current assets worth Rs 255 crore in FY25, including Rs 69 crore in cash and bank balances. Smartworks is heading to the public markets with its Rs 583 crore IPO opening on July 10 and closing on July 14, 2025. The company has set a price band of Rs 387 to Rs 407 per share with a lot size of 36 shares, requiring a minimum investment of Rs 14,652 for retail investors.

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