Aurum Proptech acquires home brokerage platform PropTiger for Rs 86.45 cr to expand biz

New Delhi, Jul 23 (PTI) Aurum PropTech Ltd on Wednesday announced acquisition of housing brokerage platform PropTiger from Australia's REA Group in a stock swap deal worth Rs 86.45 crore as part of its expansion plan.

The company will issue preferential shares to REA India as consideration for the acquisition of PropTiger.

In a regulatory filing, Aurum PropTech informed that the Board has approved "acquisition of 100 per cent equity shares of PropTiger Marketing Services India Pvt Ltd, India".

The acquisition has been done from REA India Pte, Singapore, through an all-stock, equity swap and execution of the Share Acquisition Agreement with REA and PropTiger.

The board approved issuance of 42,42,537 equity shares (face value Rs 5) of the company on a preferential basis to REA, as a consideration for acquisition of PropTiger.

The cost of acquisition is Rs 86.45 crore, the filing said.

Post-issue of preferential shares, REA India will have 5.54 per cent stake in Aurum PropTech.

Gurugram-based PropTiger, which is part of REA India that owns real estate classified platform Housing.com, had posted a turnover of Rs 100.93 crore for the 2023-24 fiscal year.

PropTiger was founded by Dhruv Agarwala in 2011. But, in 2020, Agarwala sold entire business comprising Housing.com, PropTiger and Makaan.com to Australia's REA Group.

In April this year, Agarwala resigned as the CEO of REA India.

In a separate statement, the outgoing CEO said, "We believe this alignment sets the stage for long term growth. Aurum is the right partner for PropTiger and I'm confident it will thrive under their stewardship." REA India new CEO Praveen Sharma said the company would now sharpen focus on Housing.com.

"Housing.com has achieved strong brand recognition and significant audience growth with our app-prime consumer experiences delivering strong results. We are excited to double down in this space and continue supporting the next generation of Indian home seekers with seamless property experiences," Sharma said.

Aurum PropTech Founder and CEO Ashish Deora said this acquisition will expand Aurum's reach across the home buying value chain through the synergies PropTiger brings to our business segments.

The proposed transaction is subject to satisfy certain conditions, including Aurum shareholder approval, and completion is expected within two months.

Recently, Aurum PropTech got markets regulator SEBI's approval to launch its Small and Medium Real Estate Investment Trust (SM-REIT), as part of the company's plan to expand business.

The company will list the SM-REIT schemes on stock exchanges, providing opportunities to retail investors to have fractional ownership of rent-yielding premium office assets.

It has received a registration certificate from the SEBI to float SM-REIT under the name AMSA SM REIT Investment Trust (AMSA).

Aurum PropTech owns and operates NestAway Technologies, a rental marketplace; Aurum Analytica, which helps real estate developers in finding customers; and Sell.do, which is into sales automation and digital transformation for real estate.

The company's total income rose to Rs 284.98 crore in 2024-25 from Rs 233.07 crore in the preceding year.

Aurum PropTech is part of Aurum Ventures, which is into various businesses, including telecom, aviation, renewable energy, and real estate. PTI MJH HVA