Latest news with #REAIndia
Fashion Value Chain
a day ago
- Business
- Fashion Value Chain
Aurum PropTech Approves the Acquisition of 100% Stake in PropTiger
Aurum PropTech Limited ('Aurum') has approved a binding agreement with REA India to invest in PropTiger's business through an all-stock, strategic equity swap. REA India will be allotted 4,242,537 equity shares of Aurum through a preferential allotment, becoming a strategic shareholder REA India will transfer control of PropTiger's business, including its technology, teams, client relationships and intellectual property to Aurum The acquisition marks a major step forward in Aurum's vision to build a seamless, full-stack PropTech ecosystem, now strengthened by a 350+ member team specializing in residential primary sales brokerage PropTiger recorded a 23% CAGR over FY22-FY24, with FY24 revenue at INR 955 million PropTiger deepens the synergies across Aurum's ecosystem, complementing Nestaway, and Aurum Analytica Aurum has appointed Mr. Prakash Tejwani as the Chief Executive Officer and will elevate Mr. Sridhar Srinivasan as the Chief Business Officer at PropTiger over the next 12 to 18 months. Speaking about the acquisition, Mr. Ashish Deora, Founder & CEO, Aurum Ventures, said, '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 dominance across the total addressable market (TAM) for residential real estate distribution in India, estimated at INR 38,000 crores in annual expenditure across lead generation, sales automation and transaction management.' REA India Chief Executive Officer, Praveen Sharma, commented, 'We believe aligning PropTiger with Aurum will set the stage for its long-term growth. This agreement is a decisive step in further sharpening our focus on our business and its leading digital experiences while unlocking greater potential for PropTiger.' Strategic Fit & Synergies By joining Aurum, PropTiger gains access to a proven integration playbook, built through successful acquisitions like HelloWorld, Nestaway, and Aurum Analytica. This foundation will enable enhanced technology enablement through unified AI and data infrastructure, while unlocking smarter tools such as virtual property tours, investment dashboards and matchmaking analytics. Aurum will integrate PropTiger, ensuring continuity while expanding value for all stakeholders: For Homebuyers & Sellers: Richer discovery tools Unified digital + on-ground advisory Faster, tech-enabled transactions For Developers & Channel Partners: Access to end-to-end marketing and sales support Scalable tools such as CRM, lead intelligence, and transaction management Platform-led visibility across Aurums' ecosystem About Aurum PropTech Aurum PropTech Limited is a listed company with BSE Limited (Scrip code: 539289) and National Stock Exchange of India Limited (Scrip code: AURUM). It aims to bring transparency, trust and digital transformation into the real estate sector through its Integrated PropTech Ecosystem. It owns and operates, Nestaway Technologies, India's premier rental marketplace, using technology to enable property owners find tenants and manage properties efficiently; Aurum Analytica, a data analytics company powering real estate developers identify prospective buyers for their properties and India's leading Sales Automation and Digital Transformation company for real estate. For more information, visit
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Business Standard
2 days ago
- Business
- Business Standard
Aurum PropTech acquires home brokerage platform PropTiger for ₹86.45 cr
In a regulatory filing, Aurum PropTech informed that the Board has approved 'acquisition of 100 per cent equity shares of PropTiger Marketing Services India Pvt Ltd, India' Press Trust of India New Delhi Aurum PropTech Ltd on Wednesday announced acquisition of housing brokerage platform PropTiger from Australia's REA Group for ₹86.45 crore as part of its expansion plan. The company will issue preferential shares to REA India as consideration for the acquisition of PropTiger. In a regulatory filing, Aurum PropTech informed that the Board has approved "acquisition of 100 per cent equity shares of PropTiger Marketing Services India Pvt Ltd, India." The acquisition has been done from REA India Pte, Singapore, through an all-stock, strategic equity swap and execution of the Share Acquisition Agreement with REA and PropTiger. The board approved issuance of 42,42,537 equity shares (face value ₹5) of the company on a preferential basis to REA, as a consideration for acquisition of PropTiger. The cost of acquisition is ₹86.45 crore, it added. Post-issue of preferential shares, REA India will have 5,54 stake in Aurum PropTech Ltd. Gurugram-based PropTiger, which is part of REA India that owns real estate classified platform had posted a turnover of ₹100.93 crore for the 2023-24 fiscal year. PropTiger was founded by Dhruv Agarwala in 2011. REA Group acquired a controlling interest in as well as PropTiger in 2020. In April this year, Agarwala resigned as the CEO of REA India. REA India has appointed Praveen Sharma as its new Chief Executive Officer (CEO). Recently, Aurum PropTech got markets regulator SEBI's approval to launch its Small and Medium Real Estate Investment Trust (SM-REIT), as part of the company's plan to expand business. The company will list the SM-REIT schemes on stock exchanges, providing opportunities to retail investors to have fractional ownership of rent-yielding premium office assets. It has received a registration certificate from the SEBI to float SM-REIT under the name AMSA SM REIT Investment Trust (AMSA). Aurum PropTech owns and operates NestAway Technologies, a rental marketplace; Aurum Analytica, which helps real estate developers in finding customers; and which is into sales automation and digital transformation for real estate. The company's total income rose to ₹284.98 crore in 2024-25 from ₹233.07 crore in the preceding year. Aurum PropTech is part of Aurum Ventures, which is into various businesses, including telecom, aviation, renewable energy, and real estate. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
News18
2 days ago
- Business
- News18
Aurum PropTech acquires home brokerage platform PropTiger for Rs 86.45cr
New Delhi, Jul 23 (PTI) Aurum PropTech Ltd on Wednesday announced acquisition of housing brokerage platform PropTiger from Australia's REA Group for Rs 86.45 crore as part of its expansion plan. The company will issue preferential shares to REA India as consideration for the acquisition of PropTiger. In a regulatory filing, Aurum PropTech informed that the Board has approved 'acquisition of 100 per cent equity shares of PropTiger Marketing Services India Pvt Ltd, India." The acquisition has been done from REA India Pte, Singapore, through an all-stock, strategic equity swap and execution of the Share Acquisition Agreement with REA and PropTiger. The board approved issuance of 42,42,537 equity shares (face value Rs 5) of the company on a preferential basis to REA, as a consideration for acquisition of PropTiger. The cost of acquisition is Rs 86.45 crore, it added. Post-issue of preferential shares, REA India will have 5,54 stake in Aurum PropTech Ltd. Gurugram-based PropTiger, which is part of REA India that owns real estate classified platform had posted a turnover of Rs 100.93 crore for the 2023-24 fiscal year. PropTiger was founded by Dhruv Agarwala in 2011. REA Group acquired a controlling interest in as well as PropTiger in 2020. In April this year, Agarwala resigned as the CEO of REA India. The company will list the SM-REIT schemes on stock exchanges, providing opportunities to retail investors to have fractional ownership of rent-yielding premium office assets. It has received a registration certificate from the SEBI to float SM-REIT under the name AMSA SM REIT Investment Trust (AMSA). Aurum PropTech owns and operates NestAway Technologies, a rental marketplace; Aurum Analytica, which helps real estate developers in finding customers; and which is into sales automation and digital transformation for real estate. The company's total income rose to Rs 284.98 crore in 2024-25 from Rs 233.07 crore in the preceding year. Aurum PropTech is part of Aurum Ventures, which is into various businesses, including telecom, aviation, renewable energy, and real estate. PTI MJH MJH DR DR view comments First Published: July 23, 2025, 16:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 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.
Time of India
01-07-2025
- Business
- Time of India
Housing.com parent firm REA India appoints Praveen Sharma as CEO, ETHRWorld
Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. New Delhi, REA India , which owns and PropTiger , has appointed Praveen Sharma as its new Chief Executive Officer (CEO).Sharma had earlier worked in Paytm and April 3, Dhruv Agarwala resigned as CEO of REA India to pursue his own entrepreneurial a statement on Tuesday, Australia's REA Group said "Praveen Sharma has been appointed Chief Executive Officer of REA India and will join REA Group's Executive Leadership Team."Sharma has an experience of 25 years in senior management roles across technology, digital, media and advertising in India and Asia recently, Praveen was with Paytm, where he built and ran several different businesses including ads, online payments and commerce to Paytm, Praveen spent nine years with Google, including as Regional Director Performance media-APAC, where he was responsible for Performance ad-products across the Group Chief Executive Officer Owen Wilson noted that Sharma's depth of experience in digital businesses across the region will add significant value to REA India."Praveen has a successful track record delivering results, building and leading high performing teams and growing product and technology capabilities. I look forward to his contributions as he leads REA India in its next phase of growth."Commenting on his appointment, Sharma said: "I am thrilled to be joining REA India at such an exciting time and leading the team will be a privilege. The opportunities ahead in the dynamic Indian proptech market are significant and I believe REA India is strongly positioned to deliver."Praveen will join REA India in July at its headquarters in Gurugram, India, working closely with Dhruv Agarwala, current CEO of REA India, to ensure a smooth leadership 2011, Agarwala co-founded proptech firm Elara Technologies which owned PropTiger, one of the leading housing brokerage firms in the in 2017, he acquired from Softbank and proptech major REA Group acquired Elara Technologies in 2020 and took control of and PropTiger. PTI
