Aurum PropTech Boosts AI Capabilities with Strategic Property Sale

Aurum PropTech Ltd has sold buildings in Navi Mumbai for Rs 112 crore to prepay debt and enhance its AI capabilities. The sale represents a strategic shift towards AI-driven platforms, enabling competitive edge and enhanced digital infrastructure in the real estate sector.

In a significant move, Aurum PropTech Ltd has announced the sale of two commercial buildings in Navi Mumbai for Rs 112 crore. The decision, detailed in a recent regulatory filing, is aimed at prepaying existing debt and reinforcing the company's commitment to enhancing its Artificial Intelligence (AI) capabilities.

The realty firm's board approved the sale of the properties, known as Q5 and Q6, situated in Millennium Business Park. With a recorded book value of Rs 27 crore, the transaction emphasizes a major profit margin. Proceeds will be directed towards paying off a Rs 56 crore Lease Rental Discounting facility, potentially rendering the company debt-free.

This move aligns with Aurum's broader strategic shift to AI-driven proptech platforms. Executive Director Onkar Shetye highlighted plans to leverage AI across core segments like rental, distribution, and capital. Enhanced AI capabilities aim to bolster tenant acquisition, enable dynamic pricing, and automate leasing, leading to a fully digital and data-driven real estate ecosystem.

(With inputs from agencies.)