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Square Yards forays into home furnishing, interiors

Launches subsidiary called Interior Company, which has set up offices in Bengaluru, Mumbai and Delhi-NCR and is looking to expand operations across India and in the Middle East.

better interiors_48_45739817

better interiors_48_45739817

The integrated real estate platform Square Yards has launched a new platform offering home furnishing and home interior services, with plans to scale the new venture to a $50-million business in the next three years

The subsidiary, Interior Company, has set up offices in Bengaluru, Mumbai, and Delhi-NCR and is looking to expand operations across India and in the Middle East, the company said.

“We always had very strong demand signals for interior services from our existing ecosystem of real estate customers, some of the country’s top developers and a 200,000+ strong broker network. We decided to build this capability in house with the same ethos and building blocks of a startup like Square Yards. Within just two months of the beta launch, it is clocking over $0.5 million of monthly revenue run rate,” Square Yards founder and CEO Tanuj Shori said.

To begin with, Interior Company will focus on new homebuyers in the primary real estate segment. It is building standardised and modular solutions for near-possession and ready to move inventory in some of top developer projects, it said.

The company is investing in building an integrated tech platform that provides 3D visualisation of spaces with an immersive virtual reality experience.

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Square Yards recently declared its FY21 results with Rs 350 crore revenue and EBITDA of Rs 50 crore.

 



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Moneycontrol News
first published: May 27, 2021 05:39 pm
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