Aurum Proptech, a leading real estate technology company, has reported a consolidated net loss of INR 10.70 crore for the first quarter of the current fiscal year, a significant improvement from the net loss of INR 16.12 crore in the corresponding period of the previous year. The company's total income saw a 45% year-on-year (YoY) increase, reaching INR 69.10 crore during the April-June period. Onkar Shetye, the Executive Director, highlighted the company's commitment to a balanced approach of robust growth and improving profitability, as evidenced by their annual run rate of INR 276 crore. Aurum Proptech's rental platforms, including Nestaway, now manage 30,000 rental units across various categories, and their distribution cluster, with B2B data analytics, marketing automation, and sales automation products, maintained consistent performance with robust YoY growth in revenue.
Aurum Proptech, a real estate technology company, reported a consolidated net loss of INR 10.70 crore for the first quarter of the current fiscal year. This is an improvement compared to the net loss of INR 16.12 crore reported in the corresponding period of the previous year, as per a regulatory filing.
The company's total income saw a 45% year-on-year (YoY) increase, rising to INR 69.10 crore during the April-June period of the current fiscal, up from INR 47.71 crore in the same period of the previous year.
Onkar Shetye, the Executive Director at Aurum PropTech, commented on the company's performance, stating that the result demonstrates their commitment to a balanced approach of robust growth and improving profitability, with an ARR (annual run rate) of INR 276 crore.
Shetye further noted that the company's rental platforms, including Nestaway, now manage 30,000 rental units across student-living, co-living, and family rental categories.
Additionally, the company's distribution cluster, which includes B2B data analytics, marketing automation, and sales automation products, maintained consistent performance this quarter with robust YoY growth in revenue.
Aurum Proptech operates primarily in the Software as a Service (SAAS) and Real Estate as a Service (RAAS) sectors. During the 2023-24 fiscal year, the company reported a net loss of INR 65.95 crore on a total income of INR 233.07 crore.
Aurum Proptech's impressive financial performance and operational advancements in the first quarter of the current fiscal year demonstrate the company's ability to navigate the dynamic real estate technology landscape. With a strong focus on profitability, expansion of its rental and distribution segments, and consistent growth in its core SAAS and RAAS offerings, Aurum Proptech is well-positioned to further solidify its position as a leading player in the proptech industry. Investors and industry stakeholders will be keen to observe the company's continued progress as it strives to capitalize on the growing demand for innovative real estate technology solutions.
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