Aurum PropTech reports stellar growth: H1 FY2024 income soars by 126% to Rs 105.2cr

Aurum PropTech Limited (previously known as Majesco Limited) announced its consolidated and standalone unaudited financial results for the half-year and quarter ending September 30, 2023. The key highlight is the astounding 126% YoY growth in total income, reaching ₹105.2 crores.

Significant Year-on-Year Growth for H1 FY2024

• In H1 FY2024, the revenue from operations stood at ₹96.93 crores, marking a 126% increase from the ₹42.94 crores recorded in H1 FY2023.
• Total income also surged by 126% in H1 FY2024, tallying ₹105.24 crores, compared to ₹46.56 crores in the same period of the prior year.
• EBITDA for H1 FY2024 showed a reduction in losses with ₹(1.05) crores, compared to a loss of ₹(9.12) crores in H1 FY2023.

Strong Quarterly Performance in Q2 FY2024

• Q2 FY2024 saw revenue from operations at ₹52.77 crores, an 86% rise from the ₹28.3 crores in Q2 FY2023.
• The quarter’s total income experienced an 87% boost, amounting to ₹57.53 crores, compared to ₹30.84 crores in Q2 FY2023.
• The EBITDA for Q2 FY2024 was ₹(2.85) crores, showing a decline from the ₹(3.43) crores in Q2 FY2023.

Onkar Shetye, Executive Director of Aurum PropTech, expressed satisfaction with the company’s performance, stating, “We are delighted with the consistent Q-o-Q revenue growth across our segments. Our technological platforms facilitated over 60,000 homebuyers and 10,000 renters in fulfilling their property needs.”

Highlighting further, he added, “This quarter saw a significant reduction in NestAway’s losses, dropping from 85% EBIDTA (pre-acquisition) to 17% EBIDTA, setting us on a trajectory to break-even by the fiscal year-end.”

Reiterating the company’s vision, Shetye concluded, “As we navigate the second half of the year, we remain devoted to enhancing our PropTech Ecosystem, seamlessly integrating technology, data, capital, and services.”

Aurum PropTech’s latest financial figures highlight the company’s strength and upward trajectory in the PropTech landscape.