Any current/future new fundraising through debt or equity?

Aurum PropTech plans a rights issue in Q4 of FY2025 as previously communicated, which will serve as capital for acquisitions and growth initiatives. The company is conservative regarding debt and intends not to take on new debt for acquisitions; only existing lease rental discounting (LRD) debt against properties, which is self-liquidating and at attractive interest rates, is carried. There is no plan to increase debt beyond LRD; acquisitions will be funded through equity (rights issue) or monetization of properties. Cash and cash equivalents currently stand around INR 14 crores, with addition

Any current/future capex/capital investment/strategic investment?

Aurum PropTech plans to allocate capital to its co-living business over the next 3 years to support growth, targeting INR 500 crores ARR by FY2028. Proceeds from a planned rights issue and monetization of buildings Q5 and Q6 will be used as growth capital. Post achieving profitability and controlling unit economics in NestAway, the company sees opportunities for 1 or 2 strategic acquisitions complementary to its businesses. The company maintains a conservative approach to acquisitions and valuations. Additional capital outlined includes INR 30 crores dedicated to scaling NestAway. No plans to

Future growth expectations in sales/revenue/volumes?

Aurum PropTech targets a year-on-year (YoY) growth of 45% as their North Star metric, with potential strategic opportunities pushing for this trajectory. NestAway aims for controlled growth over the next 2 quarters focusing on unit economics and increased customer wallet share, before accelerating to potentially 3-digit growth in the future. Co-living business projects an ARR of INR 500 crores by FY2028, with planned capital allocation over next 3 years to support this growth. Distribution segment targets scaling similar to rental operations, with Sell.do focusing on international expans

Future growth expectations in earnings/operating earnings/profits/EPS?

Aurum PropTech targets a year-on-year (YoY) revenue growth of approximately 45% for FY'25, supported by organic growth and potential strategic acquisitions. NestAway, post its acquisition and turnaround, aims for controlled growth with expectations of eventually achieving three-digit growth. The co-living business is projected to generate INR 500 crores in Annual Recurring Revenue (ARR) by FY2028, with continued capital allocation planned. The company is focusing on profitable growth and unit economics, targeting overall profitability by FY26-27. EBITDA margins are improving, with an i

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Aurum Proptech LtdQ3 FY24IT - Services

Aurum Proptech Ltd Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹213Market Cap: ₹1.3K CrSector: IT - Services

Management growth scorecard

Revenue

Category 2

Margin

Category 1

Fundraise

Yes

Order

N/A

Capex

Yes

3 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→Aurum PropTech targets a year-on-year (YoY) growth of 45% as their North Star metric, with potential strategic opportunities pushing for this trajectory.
→NestAway aims for controlled growth over the next 2 quarters focusing on unit economics and increased customer wallet share, before accelerating to potentially 3-digit growth in the future.
→Co-living business projects an ARR of INR 500 crores by FY2028, with planned capital allocation over next 3 years to support this growth.
→Distribution segment targets scaling similar to rental operations, with Sell.do focusing on international expansion and Aurum Analytica aiming for an ARR of INR 100 crores.
→Capital vertical aims to launch its first asset under the SM-REIT licensing framework within 2-3 quarters to unlock significant real estate investment opportunities.
→Overall, rentals grew 33% YoY, distribution grew 18% YoY, with continuous supply acquisition and introduction of new revenue streams like NestAway Lite and resale market to enhance future growth.

Margin guidance

Category 1

→Aurum PropTech targets a year-on-year (YoY) revenue growth of approximately 45% for FY'25, supported by organic growth and potential strategic acquisitions.
→NestAway, post its acquisition and turnaround, aims for controlled growth with expectations of eventually achieving three-digit growth.
→The co-living business is projected to generate INR 500 crores in Annual Recurring Revenue (ARR) by FY2028, with continued capital allocation planned.
→The company is focusing on profitable growth and unit economics, targeting overall profitability by FY26-27.
→EBITDA margins are improving, with an increase from -5.9% to -4.1% adjusted EBITDA recently, indicating progress toward positive earnings.
→The distribution segment is being scaled with technology focus, aiming to significantly increase its ARR and profitability.
→Acquisitions will be conservative and selective, aimed at complementary businesses that enhance growth without compromising financial health.

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Fundraise plans

Yes

→Aurum PropTech plans a rights issue in Q4 of FY2025 as previously communicated, which will serve as capital for acquisitions and growth initiatives.
→The company is conservative regarding debt and intends not to take on new debt for acquisitions; only existing lease rental discounting (LRD) debt against properties, which is self-liquidating and at attractive interest rates, is carried.
→There is no plan to increase debt beyond LRD; acquisitions will be funded through equity (rights issue) or monetization of properties.
→Cash and cash equivalents currently stand around INR 14 crores, with additional fixed deposits of INR 7-8 crores.
→The rights issue proceeds and building monetization (Q5 and Q6 properties) are earmarked for growth capital, particularly to expand the co-living business and other verticals.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for Aurum PropTech Limited. However, related insights include: - The company manages 32,000 rental units and aims to exceed 50,000 rental units by FY2026, indicating strong operational scale and demand pipeline. - NestAway is on a growth path with controlled unit economics, targeting INR 100 crores in revenue. - The co-living business is projected to generate INR 500 crores in ARR by FY2028, with capital allocation planned for growth. - Distribution vertical shows strong growth with an ARR target of INR 100 crores for lead generation business. - The capital vertical is progressing towards launching its first asset under the SM-REIT license in the next 2-3 quarters. No direct reference to a formal order book or pending orders is provided in the call transcript.

Capex plans

Yes

→Aurum PropTech plans to allocate capital to its co-living business over the next 3 years to support growth, targeting INR 500 crores ARR by FY2028.
→Proceeds from a planned rights issue and monetization of buildings Q5 and Q6 will be used as growth capital.
→Post achieving profitability and controlling unit economics in NestAway, the company sees opportunities for 1 or 2 strategic acquisitions complementary to its businesses.
→The company maintains a conservative approach to acquisitions and valuations.
→Additional capital outlined includes INR 30 crores dedicated to scaling NestAway.
→No plans to bring in big strategic investors currently, considering the businesses are still in early scaling phases and have sufficient capital.
→Rights issue planned for Q4 to raise further capital.
→No additional debt planned except existing lease rental discounting, reflecting a debt-averse stance on acquisitions.

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