| Aurum Proptech Limited | |
| Type: | Public company |
| Traded As: | |
| Isin: | INE898S01029 |
| Foundation: | 1999 |
| Founder: | Ashish Deora |
| Location City: | Mumbai |
| Location Country: | India |
| Area Served: | India |
| Revenue: | (FY 2023-24) [1] |
| Net Income: | (FY 2023-24) |
| Equity: | (FY 2023-24) |
Aurum Proptech is an Indian PropTech company headquartered in Navi Mumbai. Incorporated as a public Limited company in June 2013,[2] owned by Aurum Ventures group founded by the Ashish Deora in 1999. The company is involved in the property technology business with technology, capital and services businesses.[3]
Aurum PropTech was originally founded as Majesco which started operations as a subsidiary of Mastek, a multinational software company. Majesco served as Mastek's insurance business to leverage the opportunities in the growing global market.[4] Its main business was in the United States, where the company was known as MajescoMastek. It provided core technology solutions and services focused on property and casualty (P&C), life and annuity (L&A), and group and employee benefits insurance carriers.[5]
In 2020, Majesco clocked revenue of Rs 1,040.5 crore, with a five-year compounded annual growth rate of 6.56 percent.[6] The company grows as insurtech technology innovations in insurance company with 200+ global customers, according to its annual report in 2020.[7]
In March 2021, property developers Aurum Platz IT acquired the promoter's stake of 14.78 percent in Majesco. It extended an open offer to shareholders to acquire 26 percent more stake in the company.[8] By June 2021, Aurum Platz IT acquired 34.57 percent stake in the company.[9] Later in October the same year, the company's name was changed to Aurum Proptech.[10]
In December 2021, they acquired a majority stake acquired in the rental management Software Platform,TheHouseMonk.[11]
In April 2022, they made a 100% acquisition of TheHelloWorld, a Co-Living platform as well as the data analytics company, Career socially.[12]
In May 2023, Aurum Proptech launched the Aurum WiseX and made a 100 percent acquisition of Myre Capital platform and YieldWiseX.[13] [14]
In June 2023, they acquired a 100% stake in NestAway.[15] As of FY 2024, Aurum PropTech's total income rose to Rs 233.07 crore in 2023-24 from Rs 139.05 crore a year ago, according to a regulatory filing.[16]