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Aurum Proptech
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Aurum Proptech Ltd (Earlier known as Majesco Ltd) was incorporated as a Public Limited Company in June 27, 2013, founded by the first-generation promoter, Mr. Ashish Deora, in 1999. The company is involved in the real estate business.
Aurum Ventures is a new-age technology driven real estate company including acquisition, design development, project management, property management, hospitality, sales and leasing. It is presently engaged in development of 7 million square feet of Grade-A Real Estate spaces including Integrated Township, Grade A+ Information Technology Special Economic Zone (ITSEZ), residential and retail spaces in Mumbai Metropolitan Region (MMR).
The Company delivered landmark and state-of-the-art real estate projects in Mumbai Metropolitan Region. Its flagship project, Aurum Q Parc, is a premium BFSI office destination in Navi Mumbai, with LEED-designed sustainable and environment-friendly office buildings. The buildings are laced with cutting-edge Integrated Building Management Systems. The Singapore-based sovereign fund bought a built-up area of nearly 1.4 million square feet of commercial spaces in 2018 for Rs 930 crores from Aurum.
The Company approved the acquisition of 51% stake in Pune-based software technology firm K2V2 for a consideration of Rs. 40 crores. With this acquisition, it started its journey in creating India's first Real Estate Technology Ecosystem. K2V2 provides Software as a Service (SaaS) products, services and Enterprise Software catering to the real estate industry and holds wide portfolio of PropTech, real estate brokerage and digital marketing product and services. Also, it has a portfolio of PropTech products like Sell. Do and Kylas. This investment is in line with Majesco's strategy to bring digital transformation in real estate sector by creating a PropTech ecosystem covering customer digital journey, property and asset management, development, investment and financing of assets.
The Company's subsidiary, Majesco (USA) entered into a Merger Agreement on January 30, 2020, for acquisition of InsPro Technologies Corporation (Inspro), a U.S. based software leader in the life and annuity insurance market. In consideration for the merger, Majesco agreed to pay the sellers USD 12 million, subject to adjustments, upon the closing of transaction. The transaction is structured as a cash for stock merger and subject to customary closing conditions and approval of InsPro Technologies' stockholders. The transaction consummated on April 01, 2020 and purchase consideration of approx. Rs 8,669 lakhs was paid. Upon the closing of merger, InsPro became a direct wholly-owned subsidiary of Majesco (USA), and a step-down subsidiary of the Company.
The Board of Directors of the holding company at its meeting held on October 8, 2020, approved a proposal to buyback of upto 74,70,540 fully paid up equity shares of face value of Rs 5 per share of the holding company for an aggregate amount not exceeding Rs 63,126 lakhs being 24.78% of the total paid up equity share capital at Rs 845 per equity share, which was approved by the shareholders on November 2, 2020 by means of a Special Resolution in Extra Ordinary General Meeting. A Letter of Offer was made to all eligible shareholders. The holding company bought back 15,74,088 equity shares out of the shares that were tendered by eligible shareholders, paid Rs 13,301 lakhs to the shareholders and extinguished the equity shares on December 23, 2020. In addition, the holding company paid Rs 3,084 lakhs as buyback tax and Rs 558 lakhs for expenses related to buyback. All the payment has been adjusted against the securities premium account. Capital redemption reserve of Rs 79 lakhs was created to the extent of face value of share capital extinguished.
During the year 2021, the Company had sold entire stake / investment of InsurTech business in US-based subsidiary, Thoma Brqavo and the process was consummated on 21 September 2020. Accordingly, operation of US Subsidiary has been considered till September 21, 2020 as discontinued operations.
On March 21, 2021, Aurum, a Mumbai based Real Estate Group, signed a share purchase agreement with erstwhile Promoters to acquire the 14.78% promoter stake in Majesco Limited, through its subsidiary Aurum Platz IT Private Limited for Rs 32.58 Crores at Rs 77 per share. Aurum made an open offer bought another 20.26% of Majesco Limited from its public shareholders for Rs 67 crores. This development came after Thoma Bravo (PE firm) acquired Majesco's Nasdaq-listed Subsidiary in September 2020 in a deal that valued the cloud insurance software provider around USD 729 million. Majesco Limited received Rs 3,777.68 (USD 514 million) from the sale of its US subsidiary. Pursuant to the mandatory open offer, the control of Majesco Limited is now with the Aurum Group.
Aurum Proptech share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Aurum Proptech indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Aurum Proptech is valued compared to its competitors.
Aurum Proptech PE ratio helps investors understand what is the market value of each stock compared to Aurum Proptech 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Aurum Proptech evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Aurum Proptech generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Aurum Proptech in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Aurum Proptech shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Aurum Proptech compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Aurum Proptech over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Aurum Proptech helps investors get an insight into when they can enter or exit the stock. Key components of Aurum Proptech Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Aurum Proptech shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Aurum Proptech ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Aurum Proptech provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Aurum Proptech highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Aurum Proptech .
The balance sheet presents a snapshot of Aurum Proptech ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.