According to reports from The Economic Times and PTI, Aurum PropTech Ltd has completed the sale of two commercial buildings in Navi Mumbai for ₹112 crore. The company's board approved the sale of buildings Q5 and Q6 located at Millennium Business Park, Navi Mumbai for the substantial consideration. The assets have a book value of ₹27 crore, indicating the transaction will generate a significant profit for the real estate firm.
As reported by The Economic Times and PTI, the proceeds from the transaction will be strategically used to prepay the company's Lease Rental Discounting facility (LRD) of ₹56 crore. Following the completion of this transaction, Aurum PropTech is likely to become debt-free, significantly improving its financial position. The company has positioned this sale as part of its broader strategic shift toward AI-driven proptech platforms.
According to the company's statement reported by The Economic Times and PTI, the transaction proceeds will further strengthen the growing AI investment pool and support the accelerated development of intelligent digital infrastructure for the real estate sector. Executive Director Onkar Shetye outlined the company's AI deployment strategy, stating that Aurum plans to deploy artificial intelligence across its core segments of rental, distribution and capital. The AI implementation aims to enhance tenant acquisition, enable dynamic pricing, improve property management, and automated leasing processes in the rental housing segment.
As reported by The Economic Times and PTI, Aurum PropTech Ltd owns and operates NestAway Technologies, a rental marketplace; Aurum Analytica, a data analytics company powering real estate developers; and Sell.do, a sales automation and digital transformation platform for real estate. The company acquired housing brokerage firm PropTiger.com from Australia-based REA Group last year. Through these initiatives, Aurum aims to build a fully digital, data-driven real estate ecosystem and establish leadership in AI-driven PropTech.
