New Delhi, March 12 Real estate firm Aurum PropTech Ltd has sold two commercial buildings in Navi Mumbai for ₹112 crore and will use the funds to prepay debt and strengthen its 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 ₹112 crore.
The assets have a book value of ₹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 a Lease Rental Discounting (LRD) facility of ₹56 crore.
The company said the transaction is part of its broader strategic shift toward AI-driven proptech platforms.
Aurum PropTech will commit significant capital towards 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 automate leasing processes in the rental housing segment."
In real estate distribution, he said, 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 that powers real estate developers to identify prospective buyers for their properties; and 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.
