Aurum PropTech Reports Significant Year-on-Year Revenue Growth Despite Losses

Aurum PropTech reported a consolidated net loss of Rs 10.70 crore for Q1 FY25, down from Rs 16.12 crore in the same period last year. The company's total income rose by 45% year-on-year to Rs 69.10 crore. Key highlights include 30,000 rental units and consistent performance in B2B data analytics.

Aurum PropTech on Friday reported a consolidated net loss of Rs 10.70 crore for the first quarter of this fiscal.

The company had posted a net loss of Rs 16.12 crore in the year-ago period, according to a regulatory filing.

Total income rose 45 per cent to Rs 69.10 crore during the April-June period of this fiscal from Rs 47.71 crore in the corresponding period of the previous year.

Onkar Shetye, Executive Director at Aurum PropTech, said: ''Demonstrating our commitment to a balanced approach of robust growth and improving profitability, our business delivered a 45 per cent year-on-year (Y-o-Y) growth for Q1FY25 standing at an ARR (annual run rate) of Rs 276 crore.'' The company's rental platforms, which include Nestaway, now manage 30,000 rental units across student-living, co-living, and family rental categories, he said.

Shetye said the distribution cluster, which includes our B2B data analytics, marketing automation, and sales automation products, maintained consistent performance this quarter with robust Y-o-Y growth in revenue.

Aurum Proptech is primarily into Software as a Service (SAAS) and Real Estate as a Service (RAAS).

During the 2023-24 fiscal, the company posted a net loss of Rs 65.95 crore on a total income of Rs 233.07 crore.