Aurum PropTech's loss narrows to Rs 14.6 Mn in Q2 FY25

22 Oct 2024 CW Team

Aurum PropTech has reported net loss after tax of Rs 14.6 million during the quarter ended September 30, 2024. It had recorded loss after tax of Rs 39.5 million in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 68.4 million in Q2 FY25, a growth of 6.71%from Rs 64.1 million it recorded in the similar quarter last year.

The business was reorganised into three business segments with a focus on rental, distribution and capital offerings, it said in a media release. Rental business segment demonstrated 32% revenue growth which was majorly driven by expansion in rental offerings and improved wallet share. The Co-living business added two new cities, increased the number of properties and launched short stays contributing to higher revenue growth. The Family Rentals business added more revenue streams with NestAway Lite and managed services thus increasing customer base and wallet share. Capital business segment commenced transformation of the fractional ownership business into SEBI regulated SM-REIT model.

The board of directors of the company has allotted 63,550 equity shares of Rs 5 each pursuant to employees' stock option plan 2021.

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