Aurum Proptech

Aurum PropTech achieved a significant milestone in Q3 FY26 by transitioning to PAT profitability, reporting a profit after tax of INR 2.71 crores, a substantial improvement from a loss of INR 8.41 crores in the prior quarter. The company's revenue from operations grew by 39.2% QoQ to INR 104.82 crores. This strong performance has positioned the company to achieve an annualized revenue run rate of INR 460 crores, with expectations to reach INR 500 crores in the ongoing quarter.

The company has set an ambitious next milestone to achieve INR 1,000 crores in annualized revenue within the next 10 to 12 quarters, or approximately three years. This growth is expected to be organic, stemming from existing products and platforms, without relying on future inorganic acquisitions. At this INR 1,000 crores revenue level, management targets a profitability margin of at least 8% to 10%.

In Q3 FY26, the distribution segment was the primary driver of profitability, reporting INR 59.60 crores in revenue (up 67% QoQ) and a profit of INR 11.37 crores. The rental business also showed growth with INR 55 crores in revenue, a 24% increase year-on-year, but reported a loss of INR 4.46 crores. The capital segment contributed INR 0.67 crores in revenue and incurred a loss of INR 0.74 crores.

PropTiger contributed approximately INR 30 crores to the distribution segment's revenue in Q3 FY26. The business model is split, with mandates accounting for about 20% of revenue and the Annual Operating Plan (AOP) business contributing 80%. The integration of PropTiger with Sell.Do is ongoing and is expected to be completed by the end of the next quarter, aiming for significant cost savings and cross-leveraging opportunities across the ecosystem.

The rental business faced headwinds, particularly in the student living segment, with growth not meeting expectations in certain micro-markets. In response, Aurum PropTech has recalibrated its strategy to focus on a 'Win a PIN Code' approach, emphasizing hyper-local market domination and improved unit economics. This involves optimizing costs by letting go of non-performing properties and leveraging synergies between HelloWorld and NestAway for operational efficiency.

Aurum PropTech is increasingly focusing on 'ecosystem revenue,' which will be systematically tracked through three avenues: cross-selling opportunities across product suites, creating a robust data marketplace to increase customer lifetime value, and harnessing AI for business efficiency and enhanced consumer experience. The company expects a meaningful portion of its revenue to come from these ecosystem-driven opportunities as it scales towards INR 1,000 crores.

The company acquired the license for SM REIT registration in July 2025 and is actively building a strong pipeline of assets. While the product and its regulations are still new, Aurum PropTech aims to launch its SM REIT product as soon as a suitable investment category and asset fit are identified. The goal is to become the largest and most scalable SM REIT platform in the country.

The quarterly interest burden reported as INR 7-8 crores includes two components: an actual interest cost of approximately INR 2 crores on loans, primarily for lease rental discounting against owned buildings, and the remaining portion due to IndAS accounting impact for long-term rents. The company has a plan to reduce the actual interest cost by letting off certain buildings.