Aurum PropTech's FY24 Net Loss Expands to Rs. 55.75 Cr Amidst 68% Income Growth to Rs. 233 Cr

Aurum PropTech reported a consolidated net loss of Rs 55.75 crore despite higher revenue of Rs 233.07 crore in 2023-24. Total expenses surged to Rs 309.43 crore. The company acquired and turned around rental marketplace NestAway Technologies. Aurum PropTech aims to enhance transparency and digitalization in real estate through its integrated proptech ecosystem.

Aurum PropTech Ltd on Monday reported a consolidated net loss of Rs 55.75 crore during the last financial year despite higher revenue.

The company had posted a net loss of Rs 28.69 crore in the preceding year.

Total income rose to Rs 233.07 crore in 2023-24 from Rs 139.05 crore a year ago, according to a regulatory filing.

Total expenses surged to Rs 309.43 crore last fiscal from Rs 188.95 crore in the 2022-23 financial year.

Onkar Shetye, Executive Director of Aurum PropTech, said the company has reported another year of ''consistent performance across revenue, road to profitability, user growth and tech innovation''.

''Total income grew to Rs 233 crore, demonstrating a robust 68 per cent Y-o-Y (year-on-year) growth with EBIDTA (earning before interest, depreciation, tax and amortisation) improving to 9.9 per cent, displaying a sustained EBIDTA margin improvement of around 1,150 BPS (basis points) Y-o-Y,'' Shetye said.

During the last fiscal, Shetye said, the company made a notable acquisition and turnaround of rental market place, NestAway Technologies.

''We are confidently moving forward, committed to our goal of making rental, distribution and capital value chain in real estate future-ready through our integrated proptech ecosystem, leveraging technology, data, capital and services,'' Shetye said.

Aurum PropTech aims to bring transparency, trust and digital transformation in the real estate sector through its integrated proptech ecosystem.

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