Aurum PropTech Sells Navi Mumbai Buildings for ₹112 Cr

New Delhi, Mar 12 (PTI) Realty firm Aurum PropTech Ltd has sold two commercial buildings in Navi Mumbai for Rs 112 crore and will use funds to prepay debt and strengthen Artificial Intelligence (AI) capabilities.

In a regulatory filing, Aurum PropTech informed that its board approved the sale of buildings Q5 and Q6 located at Millennium Business Park, Navi Mumbai for a consideration of about Rs 112 crore.

The assets have a book value of Rs 27 crore, and the transaction will generate a substantial profit, it added.

Following the completion of the transaction, Aurum PropTech said it is likely to become debt-free, as the sale proceeds will be used to prepay Lease Rental Discounting facility (LRD) of Rs 56 crore.

The company said the transaction forms part of its broader strategic shift toward AI-driven proptech platforms.

Aurum PropTech would commit significant capital toward building advanced artificial intelligence capabilities across the real estate ecosystem.


The proceeds from the transaction will further strengthen the growing AI investment pool and support the accelerated development of intelligent digital infrastructure for the real estate sector, the company said.

Onkar Shetye, Executive Director of Aurum PropTech, said: "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 automated leasing processes in the rental housing segment."

In real estate distribution, he said the AI will power property discovery, lead analytics, and sales automation in real estate distribution.

"Through these initiatives, Aurum aims to build a fully digital, data-driven real estate ecosystem and establish leadership in AI-driven PropTech," Shetye said.

Aurum PropTech Ltd owns and operates NestAway Technologies, a rental marketplace; Aurum Analytica, a data analytics company powering real estate developers to identify prospective buyers for their properties; Sell.do, which is a sales automation and digital transformation platform for real estate.

Last year, the company acquired housing brokerage firm PropTiger.com from Australia-based REA Group.