Aurum PropTech Ltd is a Navi Mumbai-based listed company (NSE: AURUM; formerly Majesco Ltd) that runs rental, distribution and capital platforms across the Indian real estate value chain, controlled by Aurum Ventures Group.

This Startup Deep Dive explains what Aurum PropTech does, how it makes money, who backs it, how it compares with rivals and what could go wrong, using publicly available information. It is educational and not investment advice. Last updated: October 2026.

Aurum PropTech in Brief

• What it is: Aurum PropTech is an Indian PropTech / real estate platforms company based in Navi Mumbai.
• Who it serves: businesses, institutions, consumers, learners and public-sector buyers.
• Operates three verticals: Rental, Distribution and Capital
• Rental: managed home rentals via NestAway and co-living via HelloWorld
• Distribution: Sell.do CRM and sales tools for developers, and Aurum Analytica for data and AI-led lead generation
• Funding: Not disclosed in public sources reviewed.

Aurum PropTech Quick Facts

Figures marked “reported” come from published reports and may differ between sources; “Not disclosed” means no reliable public figure was found.

What Is Aurum PropTech?

Aurum PropTech operates in the PropTech / real estate platforms space in India. Understanding a company like this starts with three questions: who is the customer, what painful problem is being solved, and why the solution is better than the alternatives. The sections below apply that lens to Aurum PropTech.

• Operates three verticals: Rental, Distribution and Capital
• Rental: managed home rentals via NestAway and co-living via HelloWorld
• Distribution: Sell.do CRM and sales tools for developers, and Aurum Analytica for data and AI-led lead generation
• Capital: Aurum WiseX real estate investment platform and Integrow for construction working capital
• Reports about 250 B2B SaaS customers and 7,000+ rental-as-a-service customers across 46 cities

The Origin Story of Aurum PropTech

Every company starts from a noticed gap and a team willing to commit to closing it. Strong origin stories are specific: a clear problem, a founding team with relevant skills, and an early product that real customers could test. Founder-market fit, meaning the team’s lived experience or technical depth in the domain, tends to predict how fast a young company learns.

• Founders: Ashish Deora.
• The company was listed on BSE and NSE in 2013 as Majesco Limited, an insurance-technology business that began as a subsidiary of Mastek
• Aurum Ventures Group acquired control in 2021 and repositioned it as a PropTech company; it was renamed Aurum PropTech in October 2021
• Ashish Deora is Founder and CEO of the parent Aurum Ventures; sources do not name separate founders of the listed company
• Inc42 lists a founding year of 2020 while other sources point to 2013 incorporation history

Key Milestones and Challenges

No startup grows in a straight line. Early years usually involve slow adoption, product rewrites, hiring mistakes and funding gaps. In the PropTech / real estate platforms sector the common turning points are a first paying customer, a regulatory approval, a successful product demonstration or a funding round that lets the team invest ahead of demand. How a team responds to setbacks says more about resilience than any single headline.

• 2013: listed as Majesco Ltd
• 2021: Aurum Ventures Group takes control; renamed Aurum PropTech in October 2021
• Later: acquired NestAway in a distressed sale reported at Rs 90 crore, with a Rs 30 crore capital infusion; NestAway had raised about Rs 905 crore ($110 million) earlier
• FY24: total income Rs 233 crore, up 68%, loss widened to Rs 55 crore
• FY25: total income Rs 284.98 crore, net loss Rs 33.37 crore
• September 2025: equity allotted to REA India Pte Ltd in connection with acquiring 100% of PropTiger Marketing Services

Aurum PropTech Funding and Investors

Funding history shows how much outside confidence a company has attracted and how long it can operate before needing more capital. Figures below are reported and may differ between sources; valuation figures are estimates unless the company has confirmed them.

• Listed company; capital raised through public markets and preferential allotments rather than venture rounds
• September 2025: preferential allotment of shares to REA India Pte Ltd, Singapore (linked to the PropTiger acquisition)
• Aurum Ventures Group owns about 50% of the company

How Does Aurum PropTech Make Money? (Business Model)

A business model describes who pays, how often and how much it costs to serve them. Strong models show repeat usage, improving margins with scale and acquisition channels that do not depend only on paid spend. Weak models show one-off sales, rising costs and growth that stops when spending stops. For companies selling to businesses, institutions, consumers, learners and public-sector buyers, sales cycles and contract size matter as much as headline growth.

• Rental revenue from managed rentals and co-living (largest segment, about 60% of FY25 income)
• Distribution revenue from SaaS and lead generation for developers
• Capital revenue from investment platforms and construction financing; Rs 600 crore under management and 680 active investors reported for H1 FY25

The Numbers: Aurum PropTech Financials

Financial figures show whether growth is turning into a self-sustaining business. Small and private companies often disclose little, so any number below is included only if it was found in public reporting.

• FY24: total income Rs 233.07 crore (up 68%); net loss Rs 55.75 crore (one summary gives Rs 65.95 crore – reports differ)
• FY25: total income Rs 284.98 crore; net loss Rs 33.37 crore (another summary gives Rs 41.22 crore – reports differ)
• FY25 total expenses Rs 329.45 crore vs Rs 309.43 crore
• H1 FY25: revenue Rs 137 crore vs Rs 105 crore; rental Rs 80 crore, distribution Rs 40 crore, capital Rs 9 crore

Market Opportunity for Aurum PropTech

Market size is easy to exaggerate, so a useful approach separates the total market from the portion a company can realistically reach with its current product and distribution. The main forces behind demand in this sector are rising digital adoption, cloud and mobile penetration, growing enterprise technology spending, government digitisation programmes and a deep pool of engineering talent. Each of these widens the opportunity, but capital efficiency and execution decide who captures it.

• Company estimates a Rs 34,000 crore addressable market for distribution services
• Rentals: about 32,000 units and 1.2 lakh tenants, roughly 4 percent of organised rental supply (company claim)

Technology and Product at Aurum PropTech

Technology is rarely the whole moat, but it drives speed, cost and customer experience. A practical way to assess it is to separate the capability the company controls from the commodity infrastructure it rents. In this sector the important factors are product quality, data and integration depth, security, scalability and the speed of shipping improvements.

• AI and ML used for discovery, matchmaking, sales automation and CRM
• Aurum Analytica is an in-house data analytics division with offices in Ahmedabad, Bengaluru and Hyderabad
• Planned AI WhatsApp chatbots and broker CRM tools

Team and Culture at Aurum PropTech

Teams are the most important and least measurable asset of a young company. Look at how complementary the founders’ skills are, how deep the second layer of leadership is, and how the company hires and retains specialists. Culture shows up in small repeated behaviours: how quickly bad news travels upward and whether commitments to customers are kept.

• Ashish Deora, Founder and CEO of Aurum Ventures, the promoter group
• Sell.do co-founders Ketan Sabnis (CEO) and Vinayak Katkar (CTO) lead a group product

Aurum PropTech Competitors: Competitive Landscape

A fair competitive analysis names direct rivals, adjacent players who could move into the space, and the customer’s default alternative. Durable advantages include proprietary data or technology, licences and approvals, brand trust, switching costs and cost leadership.

Risks and Challenges for Aurum PropTech

• Continued net losses despite improvement
• Heavy dependence on the rental segment where margins are thin
• Integration risk from acquisitions such as NestAway and PropTiger
• Sources conflict on loss figures and founding year
• Competition: low barriers to entry and well-funded rivals can compress pricing and slow growth.
• Funding risk: technology businesses often burn cash before reaching profit and depend on investor appetite.

Risk is not a reason to avoid a company; it is a reason to price it correctly and to monitor the right indicators over time. Regulation in this sector is shaped by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Aurum PropTech Growth Outlook: What to Watch

• Management is pushing AI-led distribution and the capital platform, including an SM-REIT licence application
• PropTiger acquisition could expand distribution scale
• Key indicators: recurring revenue, customer retention, gross margin, customer acquisition cost and runway.
• Funding position: Whether Aurum PropTech can reach its next milestone before needing new capital.
• Regulation: Changes from data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Industry Context: Where Aurum PropTech Fits

India's technology startup ecosystem is one of the largest in the world, supported by cheap data, a large base of smartphone users, digital public infrastructure and a deep engineering talent pool. Companies now build for education, software, mobility, logistics, agriculture, defence, media and more, selling both to Indian customers and abroad.

Durable technology companies usually combine a clear customer problem with repeatable distribution and disciplined unit economics. Growth funded only by spending tends to fade, while products that customers keep using and paying for build compounding advantages.

For readers new to this field, a useful habit is to separate announcements from evidence. A plan, a partnership or a funding headline describes intent, while a delivered product, a paying customer or an audited financial statement describes results. Comparing the two over time shows how reliably a company turns promises into outcomes.

Bull Case and Bear Case for Aurum PropTech

An investment thesis is a short, testable statement of why a company could become far more valuable, together with what evidence would prove it wrong. The points below are general to this sector and are not forecasts for Aurum PropTech.

Bull case

• A large and growing base of digital users and businesses expands the addressable market.
• Recurring revenue and strong retention can compound growth.
• Selling into global markets widens the opportunity beyond India.

Bear case

• Heavy competition can compress pricing and margins.
• Dependence on external funding can force painful cost cuts.
• Regulation or platform changes can disrupt a product quickly.

Lessons Founders and Investors Can Take from Aurum PropTech

Studying a company in the PropTech / real estate platforms space offers lessons that go beyond any single firm. The points below are general lessons for the sector and are not claims about Aurum PropTech.

• Solving a clear, frequent customer problem matters more than adding features.
• Retention and repeat usage are better health signals than sign-ups.
• Disciplined spending extends runway and keeps options open when funding tightens.
• Distribution, not just product quality, decides who wins in crowded markets.
• Building trust through data protection and reliability is part of the product.

How to Evaluate Aurum PropTech as a Startup

• Customer clarity: Can Aurum PropTech name its customer and the problem it solves in one sentence?
• Evidence of demand: Look for repeat customers, signed contracts or measurable usage rather than announcements alone.
• Economics: Check whether margins improve as volume grows.
• Execution: Compare announced timelines with what has actually been delivered.
• Funding runway: Estimate how long current capital lasts at the present spending rate.
• Regulatory standing: Confirm required approvals are in place.
• Customer concentration: Check whether a few customers account for most of the revenue.
• Management depth: Look for experienced leaders beyond the founders and a stable core team.

The Takeaway

Aurum PropTech is part of India’s growing PropTech / real estate platforms ecosystem. The useful lesson from studying it is the discipline of asking structured questions about customers, economics, advantage and resilience. Companies that answer them well, repeatedly and under pressure are the ones that endure. Readers should treat any single report, ranking or funding headline as one input among many, and should re-check key facts against recent company announcements. Because public information on young companies is often limited, patience in verifying claims is part of good analysis. Public sources can also describe the same company in different ways, so it is worth checking dates, definitions and whether a figure refers to revenue, total income or transaction value, and whether it covers one entity or a wider group, before drawing conclusions. Small differences in rounding, currency conversion or reporting periods can also change how a figure reads. Comparing the same figure across several recent reports helps show whether it is stable or has changed over time. This article is educational and is not investment advice.

• Clear customers and repeat demand matter more than announcements.
• Regulation and capital needs shape how fast a startup in this sector can grow.
• Track a few leading indicators over time rather than one headline metric.

Aurum PropTech FAQs: Frequently Asked Questions

What is Aurum PropTech?

Aurum PropTech Ltd is a Navi Mumbai-based listed company (NSE: AURUM; formerly Majesco Ltd) that runs rental, distribution and capital platforms across the Indian real estate value chain, controlled by Aurum Ventures Group. It is profiled in the Startup Deep Dive series, which explains business model, funding, competitors and risks.

Who founded Aurum PropTech?

Aurum PropTech was founded by Ashish Deora, and the company reports a founding year of 2013 (as Majesco Ltd; reports differ – one source says 2020).

How much funding has Aurum PropTech raised?

No reliable total funding figure is disclosed in the public sources reviewed. Funding figures are reported and may differ between sources, so readers should check the latest company announcements.

How does Aurum PropTech make money?

Aurum PropTech earns revenue from its PropTech / real estate platforms products and services sold to businesses, institutions, consumers, learners and public-sector buyers. The exact revenue mix is described in the business model section and is not fully disclosed publicly.

Who are the competitors of Aurum PropTech?

Reported rivals include 99acres, NoBroker, Square Yards, Housing.com. See the competitor comparison above for how they differ.

What are the main risks for Aurum PropTech?

Main risks include competition: low barriers to entry and well-funded rivals can compress pricing and slow growth, funding and capital needs, competition and regulation by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules. This is educational content, not investment advice.

Related Startup Deep Dives: Zenatix — Acquired by Schneider Electric (2023); FY25 revenue about Rs 12.2 crore | GPS Renewables — Raised Rs 635 crore in a June 2026 Series C package led by PixelSky Capital. Browse the full Startup Deep Dive series.

Source

Source: Publicly available data, published reports, industry research, and other credible sources.