Aurum PropTech has reorganized its business into three core segments-rental, distribution, and capital-driving significant growth. The rental segment saw a 32% revenue increase, boosted by expanded co-living options and the introduction of new services like NestAway Lite in the family rental segment. The capital business is transitioning its fractional ownership model into a SEBI-regulated Small and Medium Real Estate Investment Trust (SM-REIT), marking an important shift. Despite reporting a net loss, reduced losses and increased income signal positive growth. With a focus on expanding its core businesses, Aurum PropTech is well-positioned for improved financial performance in upcoming quarters.
In a media release, Aurum PropTech revealed that its business has reorganised into three core segments, each focusing on rental, distribution, and capital offerings. The rental business segment demonstrated a significant revenue growth of 32 per cent, which was primarily driven by the expansion of its rental offerings and an increase in wallet share from its customers. The co-living business expanded into two new cities, adding more properties and launching short-term stay options, all of which contributed to enhanced revenue growth. Furthermore, the family rentals segment introduced additional revenue streams through NestAway Lite and managed services, which expanded its customer base and further increased its wallet share.
In the capital business segment, the company initiated the transformation of its fractional ownership business into a SEBI-regulated Small and Medium Real Estate Investment Trust (SM-REIT) model, marking an important development in its capital offerings.
Additionally, Aurum PropTech's board of directors approved the allotment of 63,550 equity shares, each valued at INR 5, under the company's Employee Stock Option Plan 2021. Despite reporting a net loss for the quarter, the company has made notable progress in restructuring and expanding its business segments. The reduced losses, coupled with an increase in income and a clear focus on expanding its rental and capital businesses, signal positive growth prospects. If these trends continue, Aurum PropTech appears well-positioned to improve its financial standing in the upcoming quarters.
Aurum PropTech continues to face losses, the significant reduction in net loss and the growth in its consolidated income reflect a positive shift in its financial trajectory. The company's strategic reorganisation into rental, distribution, and capital segments, alongside key expansions in the co-living and family rental sectors, shows promising potential for future growth. The transformation of its capital business into a SEBI-regulated model also indicates a forward-thinking approach to securing long-term value. If this momentum continues, Aurum PropTech is likely on its way to achieving greater financial stability in the near future.