450 per cent jump in revenue: This micro-cap company announces major acquisition!

In Q4FY23, the company’s revenue from operations zoomed more than 450 per cent from last year’s same quarter

Aurum PropTech is a company listed with BSE Limited and National Stock Exchange of India Limited. It aims to bring transparency, trust and digital transformation in the real estate sector through its Integrated PropTech Ecosystem covering Investment and Financing of Assets, Enterprise Efficiency, Customer Experience and Connected Living.  

Recently, the company notified the exchange about its acquisition of MYRE Capital's assets and technology platform and subsequently launched Aurum WiseX, a digital distribution channel focused on Real Estate Investments. The CEO of Aurum WiseX will be Aryaman Vir, former founder and CEO of MYRE Capital and the company will continue to prioritize utilizing technology to offer institutional grade investment products with low risk for its growing customer base.   

The first platform under Aurum WiseX will be called 'YieldWiseX', which will provide structured debt for Commercial Real Estate (CRE) and Lease Rental Discounting (LRD), along with other innovative frameworks. As part of the planned transition, the existing MYRE Capital team, technology stack, customers and partners will be moved to the new vertical, Aurum WiseX.   

In Q4FY23, the company’s revenue from operations zoomed more than 450 per cent from last year’s same quarter to Rs 45.36 crore. The EBTIDA level of the company witnessed a surge of more than 168 per cent from March 2022 quarter to Rs 4.25 crore. The net loss of the company stood at Rs 5.84 crore.   

On Wednesday, shares of Aurum PropTech closed 0.09 per cent down at Rs 116.85 apiece on BSE.   

The stock has witnessed good buying activity as it has surged more than 25 per cent in last 1 year. Keep a close eye on this trending stock.