NEW DELHI: The board of directors of Aurum PropTech has approved the sale of buildings Q5 and Q6 at Millennium Business Park, Navi Mumbai, for a total consideration of ₹112 crore, approximately 15% above the valuation provided by the valuers.
The assets have a approximate book value of ₹27 crore.
Following the completion of the transaction, the company is expected to become debt-free, as the sale proceeds will be utilized to prepay lease rental discounting facility (LRD) of ₹56 crore.
The transaction is expected to be consummated by June 30, 2026, subject to the receipt of necessary regulatory approvals.
The company plans to shift toward AI-driven PropTech platforms, with the company committing significant capital toward building advanced artificial intelligence capabilities across the real estate ecosystem.
