New entry
They have acquired 14% shares of Shriram properties
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The acquirer Aurum Real Estate is the largest promoter of Aurum Proptech. Aurum Proptech still remains asset-light as I understand.
Disclosure: Invested a miniscule amount for tracking.
From recent concall company seems to be now focusing on operational efficiency rather than trying to achieve hyper growth although 100cr revenue is being targeted. Any further views?
Disc: Tracking position as of now.
I came across this entity while looking at recent investments made by Porinju Veliyath who has been consistently increasing stake here for the last 3 years atleast. As per Dec 23’ data he holds 4.5% by investing 45 Crs
Aurum Group is run by Mr. Ashish Deora. APL’s is today held by the group’s arm Aurum Realestate who in FY23 bought 14% stake in Shriram Properties also.
this spiked my interest
https://www.constructionweekonline.in/people/shriram-properties-inducts-ashish-deora-as-director
Other than he being said to be alumnus of Harvard Business School, not able to find any relevant data on him, looking forward to get some insight from the veteran investors here
Debt is very low and the group has been on an acquisition spree on real-estate related multiple entities in varied verticals like, technology, finance, marketing, etc. The business model seems to be create an entire ecosystem on real-estate as the base and create value from that.
Looks very interesting however, not able to connect dots to see value. Request learned investors here to throw some light on how to look at this model, group, promoters, etc.
Aurum Jan24 ppt.pdf (4.3 MB)
Hi ,
I am following this company for last 12-15 month and recently started buliding my position. (approx 3000 Share @130 avg price).
My Rationale is : they were in to real estate Leasing business and after acquistion of Majesco (only Office asset left as Majesco sold their IT (insurance Product) business to american company.) they are moving in to IT SaaS/Platform in to Real esate (where they have core domain expertise) and acquring Real estate related IT Platforms.
I think they are doing right move i.e from Domain to moving in it IT and making Industry specific end to end solution. I think their strategy of merging acquired business is also good i.e at macro level they are integrating solution but still giving operational freedom to acquired IT business( This is very imp, in IT business as Human are their key assets and in M&A culture fitment is key for success of m&A).
Also for last 2 qtr they started focusing on Bottom line(Profitable growth) unlike many IT SaaS platform business which just focus on Top line and markt share incresed.
Over All: I think they are having focused stategy and also close eye on execution. I believe if they continue ame focus it will be good business in years to come.
Note: I have recently started building position so my views can be bised.
I am IT Professional and have closely seen how IT Applcaiton/Product business ( which very few companies in India focus) grows.
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Arbitrage opportunity between partly paid and fully paid up shares?
Aurum PP shares are trading at 118.85 and fully paid up shares are trading at 152.55 (14th May 2024 at 3.17 pm)
If we buy partly paid up shares, we need to pay Rs. 30 when it is called at a later date. This effectively gives a benefit of 3+ rupees per share plus interest.
Disclosure: Recently sold off fully paid up shares and Invested in PP shares of Aurum.
