Aurum PropTech Ltd

AGM Details

• AGM date and time: 18 Sep 2026, 2:00 PM IST.
• Mode: VC/OAVM.
• Cut-off date for voting: 11 Sep 2026.

Item 1: Loans beyond limits

• Special resolution approved for loans, investments, guarantees beyond Section 186 limits; 99.94% in favour.

Item 2: Locon acquisition via private placement

• Acquisition of 100% stake in Locon Solutions Private Limited via private placement.

Item 3: Warrants to promoter

• Preferential issue of fully convertible warrants to promoter Aurum RealEstate Developers Limited.

Item 4: Alteration of Articles of Association

• Alteration of Articles of Association approved.

Financial results and merger update

• Audited standalone and consolidated results for quarter and year ended 31 March 2026 approved.
• Merger confirmation received from Regional Director on May 15, 2026.
• Scheme became effective on 12 June 2026.
• No change in financial performance/position versus April 23, 2026 results.

Rights issue scope amendment

• Objects of rights issue amended to include Locon Solutions Pvt Ltd investment as subsidiary.
• Investment may be via equity, loan, LOC, or convertible instruments; subject to approval.
• Locon to become subsidiary upon completion of rights issue, subject to approval.

Meeting Details

• Board meeting scheduled for August 14, 2026 at the Registered Office.

Key Agenda Items

• Consider and approve updated Audited Financial Results (Standalone and Consolidated) for quarter and year ended March 31, 2026.
• To give accounting effect to the Scheme of Merger with Liv Real Solutions Private Limited.
• No change in financial performance or position from the April 23, 2026 Audited Results.
• Scheme of Merger between Aurum Softwares and Liv Real Solutions became effective June 12, 2026.

Auditor resignations and new appointments

• MSKA resigned as statutory auditors of Aurum Analytica Private Limited and Helloworld Technologies India Private Limited.
• Resignation effective August 6, 2026, part of Aurum Group auditor alignment.
• Kirtane and Pandit to be appointed as statutory auditors for both subsidiaries.
• Appointments subject to approvals and Companies Act, 2013.
• MSKA appointed Sept 27, 2023; Aurum Analytica Private Limited and Helloworld Technologies India Private Limited; term ends FY2027-28.
• Latest audit report FY2025-26 completed; dates provided in annexure.
• Reason: alignment with group auditors from FY ended March 31, 2027.

Resolutions overview

• Special resolution to acquire 100% of Locon Solutions Pvt Ltd via private placement of equity.
• Post-issue fully diluted holding: promoter 39.89%, public 60.11%; REA India Pte Limited to hold 22.91%.
• Proposed allottees: REA India Pte Limited; no change in management or control.
• Pre-issue capital 7,67,36,194; post-issue 10,48,97,316 on a fully diluted basis.
• Identity of proposed allottee: REA India Pte Limited; ultimate beneficial owners linked to REA Group and News Corp.
• Item 3: Special resolution for preferential issue of fully convertible warrants to Aurum RealEstate Developers Limited.
• Total size Rs 118.02 crore; Rs 90cr to subsidiaries; Rs 14cr for acquisitions; Rs 14.02cr for general corporate.
• Objects include investment in subsidiaries, acquisitions, and general corporate purposes.
• Valuation report by CA Jom Jose; available on company website.
• Ultimate beneficial owner of the allottee: Ashish Deora.
• Interim deployment: unutilised proceeds may be parked in bank deposits; later deployed.
• There is no change in management or control due to these resolutions.

Issue Overview

• Type: Rights issue of equity shares.
• Total size and net proceeds: undersubscription with a small shortfall pending receipts.
• Main objectives: identified investments, product development, product marketing, inorganic growth, and general corporate purposes.

Utilisation of Proceeds

• Utilisation status: largely as disclosed; funds routed through current account causing fund commingling.
• Variations and approvals: shareholder approvals obtained for revised objects and allocations.
• Means of finance changed: board-approved revisions to object budgets.
• Product Development: ongoing; quarterly utilisation modest.
• Product Marketing: ongoing; quarterly utilisation modest.
• Identified Investments: partial utilisation; loans extended to identified entities.
• GCP: Nil utilisation in the quarter.
• Unutilised funds: parked in fixed deposits and a monitoring account; some receipts pending.
• Total unutilised funds: remains available for deployment.
• Delay in implementation: product development and marketing delays; identified investments and funding ongoing per extended timelines.

Governance and Compliance

• Approvals obtained: shareholder approvals via AGM and postal ballot for variations; board approvals for revisions.
• Deviation status: Nil deviation from LOF objectives in this quarter.
• Past deviations addressed: earlier fund movements from mutual funds to fixed deposits resolved.
• Regulatory posture: no major issues flagged; no new pending approvals.
• Progress risk: shortfall pending receipts.

General Corporate Purpose (GCP)

• GCP utilisation: Nil in the quarter.
• GCP plan and caps: funds earmarked for unidentified targets and GCP within board-approved caps.
• Board approvals: resolutions for revised deployment timelines and allocations.

Financial Performance

• Total income for the quarter was INR 119.01 crores, up 61.09% YoY.
• Revenue from operations was INR 111.84 crores; prior quarter was INR 123.85 crores.
• PBT was INR 2.31 crores; PBT margin 2.1% vs 2.9% prior quarter.
• Third consecutive profitable quarter; margins up 1,590 bps.
• Adjusted EBITDA margins improved by 1,320 bps.
• Rental revenue INR 54.35 crores; occupancy 81%; across 21 cities.
• Distribution revenue INR 55.94 crores; capital revenue INR 1.55 crores.
• Rental and distribution EBITDA profitability achieved; capital segment loss INR 0.05 crores.
• Discontinued operations: building sale INR 112 crores.
• Other income from discontinued operations INR 52.38 crores in the quarter.
• Total discontinued revenue INR 54.14 crores in the quarter.
• PBT from discontinued operations INR 52.40 crores.

Segment Performance

• Rental EBITDA profitability achieved.
• Distribution EBITDA profitability achieved.
• Capital segment revenue INR 1.55 crores; capital segment loss INR 0.05 crores.
• Developers served: 1,200+ across 150,000 projects in 40+ cities.

AI and Housing Integration

• AI stack deployed across five layers: Discovery, Intelligence, Transaction, Financing, Living.
• Housing.com acquisition enhances end-to-end platform; strengthens monetization across lifecycle.
• Housing commands ~24% of online portal market; ~58 million visits; ~12 million MAUs.
• Integration targets profitability within four to six quarters; internal target three to four.
• Upsell opportunities within Housing cohort; cross-sell with PropTiger, Analytica, NestAway, Hello World, Sell.do.
• Unit economics focus on revenue per team member as KPI across businesses.

Capital Structure and Dilution

• Post PropTiger, REA Group holds 24.9% in Aurum PropTech.
• Housing integration implies ~20% additional equity dilution.
• Equity expansion around 25% with all dilutions; REA held ~5% from PropTiger prior.
• Promoters set aside a war chest of ~INR 200 crores for Housing.
• Acquisitions valued at ~1.5x revenue; consolidation aims to lead Indian PropTech.

Guidance and Outlook

• FY27 priorities: steady quarterly improvements, ongoing AI progress, full Housing synergies.
• No formal full-year numeric guidance; focus on profitability and efficiency.
• Company profitability possible earlier; Housing break-even four to six quarters.

Q&A Highlights

• Cannibalization risk between Housing and Analytica: management sees no cannibalization; end-to-end synergy.
• Housing ARR target discussed; management aims to exceed INR 1,000 crores with Housing.
• Housing burn rate annualized at INR 200 crores; break-even expected in 4–6 quarters.
• Dilution rationale: leverage REA partnership; 24.9% stake; Housing-driven dilution ~20%.
• Sell.do churn: gross churn around 7%; 1,000 developers onboarded; 11,800+ active licenses.
• Housing market share context: 24% online portal market share; significant cross-sell opportunity.