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Time of India
7 days ago
- Business
- Time of India
Aurum PropTech acquires REA India's PropTiger in strategic share-swap deal
Aurum PropTech has acquired PropTiger. The acquisition is through an all-stock deal with REA India. REA India will get a 5.5% stake in Aurum PropTech. Aurum will take over PropTiger's operations. PropTiger's integration will enhance Aurum's proptech portfolio. Prakash Tejwani is the new CEO of PropTiger. The deal allows REA Group to retain exposure to the Indian market. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Listed property technology company Aurum PropTech has acquired 100% of PropTiger , the Indian arm of News Corp Australia-backed REA Group , through an all-stock strategic equity swap. This marks the first-ever share-swap–based acquisition in the country's proptech part of the transaction, REA India will become a 5.5% equity shareholder in Aurum PropTech by receiving 4,242,537 equity shares through a preferential the agreement, REA India will transfer complete operational control of PropTiger to Aurum, including its technology infrastructure, team, customer relationships, and intellectual transaction will result in PropTiger's integration into Aurum's broader proptech portfolio, which includes NestAway, HelloWorld, and Aurum Analytica."Our conviction in this acquisition stems from a shared vision with REA India to digitize the consumer's real estate journey. This reinforces Aurum's lead across the total addressable market (TAM) for residential real estate distribution in India, estimated at Rs 38,000 crores in annual expenditure across lead generation, sales automation, and transaction management,' said Ashish Deora, Founder and CEO of Aurum reported a compounded annual revenue growth of 23% between 2021-22 and 2023-24, closing 2023-24 with revenue of Rs 95.5 crore. With this acquisition, Aurum adds a 350-member residential brokerage and technology team, strengthening its position in the residential real estate services has named Prakash Tejwani as the new Chief Executive Officer of PropTiger and Sridhar Srinivasan will be elevated as Chief Business Officer over the next 12 to 18 to Praveen Sharma, CEO of REA India, the decision to align PropTiger with Aurum would enable the platform's long-term growth. 'This agreement helps sharpen our focus on and its digital initiatives, while unlocking greater value for PropTiger through its integration with Aurum,' Sharma integration into Aurum's existing platform is expected to drive efficiencies through a unified data and Artificial Intelligence (AI) framework. The combined setup will offer tools such as virtual property tours, investment dashboards, and analytics-driven property deal marks a strategic move by REA Group to retain exposure to the Indian market through its stake in Aurum while exiting direct control of PropTiger, which it acquired in 2017 and later merged with and Aurum, the share-swap structure adds PropTiger to its growing proptech ecosystem without upfront cash outflow, building on its recent string of platform REA Group is a global digital business specializing in property, with businesses in Australia, Asia and North America. It is listed on the Australian Securities Exchange and is majority-owned by News Corp Australia , led by Rupert company's market capitalization stands at over A$30.9 billion as of July end, ranking it among the world's top real estate internet platforms. The group owns and operates over 16 real estate related brands globally.
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Business Standard
29-04-2025
- Business
- Business Standard
Aurum PropTech appoints Ashish Deora as non-executive director on board
Aurum PropTech Ltd has appointed Ashish Deora as a non-executive director in the company. In a regulatory filing on Tuesday, Mumbai-based Aurum PropTech informed that its board has approved appointment of Deora, who is the founder and CEO of the company's parent entity Aurum Ventures as a Non-Executive Director. Commenting on the appointment, Deora said, "India PropTech sector represents a USD 100 billion opportunity across consumer tech, enterprise tech and fintech offerings." Since its inception in April 2021, he said the company has strategically combined organic and inorganic routes to grow its business. "As Aurum PropTech continues its journey toward achieving Rs 1,000 crore in revenue, fuelled by our rental, distribution, and capital offerings, I am excited to witness the technology-driven transformation of real estate, making it truly future-ready," said Deora, an alumnus of Harvard Business School. Over the last three decades, Aurum Ventures has entered into various businesses, including telecom, aviation, renewable energy, and real estate. In the real estate sector, Deora has led in the establishment of Aurum Real Estate, a homegrown, diversified real estate platform offering an integrated suite of investment management, development expertise, operational capabilities, and technology-driven solutions. The portfolio spans premium residential projects, luxury housing, IT-SEZ developments, integrated townships, and retail properties across the Mumbai Metropolitan Region (MMR). Aurum PropTech has operations across 15 cities and a team of over 650 professionals. The company is into the rental business through NestAway brand.
