Aurum PropTech Sells Navi Mumbai Buildings for ₹112 Crore to Fund AI Expansion
Aurum PropTech Ltd has made a significant move in the real estate market by selling two commercial buildings in Navi Mumbai for about ₹112 crore. The company intends to use the proceeds from the sale to prepay debt and accelerate investments in artificial intelligence (AI) capabilities across its proptech platforms.
In a regulatory filing, Aurum PropTech announced that its board has approved the sale of buildings Q5 and Q6 located at Millennium Business Park. These assets have a book value of ₹27 crore, and the transaction is expected to generate a significant profit for the company.
Following the completion of the sale, Aurum PropTech is likely to become debt-free. A portion of the proceeds will be used to prepay its Lease Rental Discounting (LRD) facility of ₹56 crore. This move is part of a broader strategy to strengthen the company's balance sheet while reallocating capital toward technology-driven growth.
Aurum PropTech has emphasized that the transaction aligns with its long-term strategy to build AI-powered digital platforms for the real estate ecosystem. The company plans to deploy artificial intelligence across its core business segments, including rental housing, real estate distribution, and capital solutions.
According to Onkar Shetye, AI will play a central role in improving efficiency across multiple real estate functions. “Aurum plans to deploy artificial intelligence across its core segments of rental, distribution, and capital. AI will enhance tenant acquisition, enable dynamic pricing, improve property management, and automate leasing processes in the rental housing segment,” Shetye said.
In the real estate distribution segment, AI tools will power property discovery, lead analytics, and sales automation. This will not only streamline operations but also provide a more personalized and efficient experience for customers.
The company aims to build a fully digital, data-driven real estate ecosystem and establish leadership in AI-led proptech solutions. Aurum PropTech operates several technology platforms in the real estate sector, including NestAway Technologies, a rental marketplace; Aurum Analytica, a data analytics platform for developers to identify potential homebuyers; and Sell.do, a sales automation and digital transformation platform for real estate companies.
Last year, Aurum PropTech strengthened its presence in the digital property marketplace by acquiring PropTiger.com from Australia-based REA Group. This acquisition further solidifies the company's commitment to leveraging technology to transform the real estate industry.
By investing in AI and other advanced technologies, Aurum PropTech is positioning itself to lead the way in the proptech sector, offering innovative solutions that enhance efficiency, transparency, and customer satisfaction. The sale of the Navi Mumbai buildings is a crucial step in this strategic direction, providing the necessary capital to fuel the company's ambitious growth plans.
