Ladies and gentlemen, good day and welcome to Q4 FY2023 earning conference call of Aurum PropTech Limited. As a reminder, all participant lines will be in the listen only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on a touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Vanessa Fernandes from Aurum PropTech Investor Relations. Thank you, and over to you.
Good evening, everyone. Welcome to the earnings call of Aurum PropTech Limit ed for quarter four and FY2023. We are humbled to have you all here to discuss our latest financial results, and we appreciate your continued interest and support. Joining us today is Mr. Ashish Deora, the Founder and CEO of Aurum Ventures. Under his leadership, our company has experienced significant growth. We also have Mr. Hiren Ladva, our EVP of Investments, who will share insights on our PropTech ecosystem, followed by Mr. Kunal Karan, our Chief Financial Officer, who will touch upon the financial highlights of the company. Before we dive into the details, I would like to remind everyone that the forward-looking statements we may discuss are subject to risks and uncertainties that are detailed in our prospectus filed with SEBI and the subsequent annual report.
We encourage you to review these documents, which are available on our website to fully understand the risks associated with any future projections or statements. We shall start the call with Mr. Ashish Deora's perspectives on our performance over the last year. Over to you, sir.
Thank you, Vanessa. Good afternoon, everyone. I'm glad to connect on this investor call for the eighth quarterly call under Aurum management. It gives me great pleasure to speak with all of you today and share our journey of exponential growth during FY2023. I'm happy to announce that our team's focus has led to incredible growth in the last year. We've clocked revenue of INR 139 crores in the year, which reflects our commitment to excellence and the execution of our well-thought strategy. I would like to highlight two points to this effect. Firstly, we had projected our Q4 revenue to be INR 50 crores. I'm glad to state that we have surpassed the projection. What is important is that the target of INR 50 crores was made at the beginning of last year when our revenue was to the tune of INR 14 crores.
Secondly, exponential growth is slowly becoming the mantra and DNA of Aurum PropTech. We feel that we can now aggressively project and consistently achieve. This remarkable achievement is a testament to the team's relentless efforts and unwavering commitment to our shared vision of creating a future-ready company. Our revenue growth momentum demonstrates our leadership in the PropTech sector. This also gives us confidence to execute with discipline what we believe is a well-thought strategy. With our strong positioning, cutting-edge technology and unwavering focus on customer experience, I have no doubt that we will surpass our current targets and continue to drive data-based growth and innovation in the industry. Moving from revenue growth, I would now like to take a few minutes on our strategy. At Aurum, we pride ourselves on using cutting-edge technology to equip real estate consumers with innovative products and solutions for customer experience.
We are committed to continuing this approach by investing in new and cutting-edge technologies, along with strategic acquisition to further enhance services while providing exceptional value to our customers and setting us apart from the competition. Aurum's laser focus on its core competencies has driven innovation and growth in the industry. As we look to the future, analyzing data and then integrating with services and capital keeps us challenged on a daily basis. We remain committed in our pursuit of excellence and in achieving our vision of becoming the top real estate tech-based services company in the industry. Further, our belief that digital products require an entrepreneurial mindset is getting even more reaffirmed with every quarter. With that in mind, we continue to deepen our engagement with entrepreneurs to create a robust ecosystem.
The integration of tech, data, capital and services, along with an entrepreneurial mindset, is the engine of growth for the next few quarters. I'm confident in our future prospects and the steps we are taking to achieve our ambitious revenue goals and pivot on our pioneering position. Thank you all for your continued interest and commitment to Aurum. As we move forward, I'm excited to share more insights with you and discuss our progress. I now request Hiren to kindly take over for the next segment of the call.
Thank you, Mr. Ashish. Good evening, everyone. Let me take a few minutes to walk you through Aurum PropTech's performance over the last quarter and the year gone by. First, I'm happy to report that two of our partner companies, HelloWorld and K2V2 Technologies, have crossed more than INR 50 crores each in revenue in the financial year FY2023 on a standalone basis. Second, if you look at our partner companies' FY 2022 revenues, they have collectively more than doubled the revenues in FY2023. As you would recall, most of these companies were not under Aurum's protection in FY2022. HelloWorld has clocked 93% YOY growth, while K2V2 has delivered 140 YOY growth, 140%.
Aurum Analytica, which got acquired in the beginning of October 2022, has delivered INR 7.6 crores in H2 of FY2023 compared to INR 3.9 crores in FY2022 H2. This is a significant achievement as it highlights not only the intrinsic growth potential of this venture, but also the strength of our ecosystem. We are witnessing a healthy increase in customer acquisition as well as their engagements on all our platforms in the form of transactions enabled, projects served or bed rented. We are thrilled to see the value delivered to our customers and their continuous trust in us. Profitable growth is in our DNA, and this gets reflected in how we are scaling within comfortable zones of profit margins while some of our competition has opted for scalability without sound business viability.
Now, I shall quickly touch base on our growth opportunity for the upcoming quarters. In our connected living segment, we have increased our presence in cities where rental demand and prices are growing, for example, in Bangalore, and we should benefit from the overall spike in rentals across all formats there. Additionally, we have added new supply in the student living segment in places like Kota well before the start of the new academic year. Our properties provide comfortable and a safe living as well as a studying environment to our student tenants. This is what will enable us to remain a leader in this segment. In our investment finance cluster, Integrow Asset Management has garnered further fund commitments of INR 60 crores, taking the total investment to INR 207 crores.
We will be augmenting our ecosystem portfolio with the launch of a new investment platform in the coming quarters. Groundwork for the same is underway. We will be taking the product to the market in the month of May 2023. Within our enterprise efficiency cluster, Sell.do, our real estate SaaS CRM product, continues to be the market leader in India, with more than 500 active real estate clients and around 8,000+ licenses. We have more than doubled our licenses during the year gone by. At the end of Q4 FY2023, Aurum Analytica's order book grew 2.5x the number of projects it had at the end of Q3 FY2023. We continue to meet exciting PropTech ventures on investments front. We will update you on any transaction as and when they materialize.
To conclude, we are committed to build and grow our SaaS as well as PaaS products, and the upcoming quarter promises to be an exciting one for our growth journey. Thank you for your continued support, and we look forward to sharing more updates with you soon on our quarter metrics. Now pleased to hand over the call to Mr. Kunal Karan, our CFO, to provide an update on the financial performance of Aurum PropTech.
Thank you, Hiren. Thank you everyone for taking out time to join us on this call today. Today, the board of directors have approved the audited results for the quarter and the year ended 31st March 2023. I will take you through the summary results of the company. Results for the quarter ended March 31, 2023 first. The revenue from operations for the quarter was INR 45.36 crores as compared to INR 38.56 crores in the previous quarter, up by 17.60%. The total income for the quarter was INR 51.33 crores as compared to INR 41.15 crores in the previous quarter, up by 24.73%.
EBITDA for the quarter was INR 4.25 crores, that is 9.4% of the revenue as compared to INR 8.96 crores in the previous quarter. Loss for the quarter was INR 9.83 crores as compared to INR 10.4 crores in the previous quarter. Results for the year ended March 31, 2023. Revenue from operations for the year was INR 126.87 crores as compared to INR 15.79 crores in the previous year, up by 703%. Total income for the year was INR 139.04 crores as compared to INR 21.01 crores in the previous year, up by 561%.
EBITDA loss for the year INR 2.90 crores as compared to a loss of 13.08 crores in the previous year. The total loss for the year was INR 40.30 crores as compared to 13.27 crores in the previous year. Now to the balance sheet as at 31st March, 2023.
Total assets were INR 391.77 crores as of March 31, 2023, as compared to INR 220.57 crores at the end of March 31, 2022. Total liabilities were INR 156.94 crores as compared to INR 31.83 crore at the end of March 31, 2022. Equity attributable to the equity shareholders were INR 222.54 crores as compared to INR 168.08 crores at the end of March 31, 2022. Cash flow. The cash used in the operating and investing activities during the current financial year was INR 60.06 and INR 45.46 crores respectively, and cash generated from financing activities was INR 29.98 crores. The cash at the end of the year was INR 20.27 crores.
Other liquid investments at the end of the year were INR 29.95 crores. With this, I will now passing the call to [Lizan] to open the floor for question and answer session. Thank you very much and appreciate your continuous interest.
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. As a reminder, all participants to ask a question, please press star and one on their touchtone telephone. The first question is from the line of Rahul Shah, Individual Investor. Please go ahead.
Hi, team. Congratulations on the amazing growth and the great numbers. It looks like we are heading to a great next financial year. I wanted to ask you the question that, you know, that currently the interested environment is such that it's affecting all companies and industries. It also is impacting a lot of infrastructure companies and being real estate, one of the heavy capital businesses. You think it will have ripple effect on real estate as well as PropTech industry and what measures Aurum is taking to tackle the same?
Thank you, Rahul. This is Hiren. I'll attempt to answer your question. We agree that the economy overall had slightly shifted towards a high interest environment, wherein the RBI came with a series of interest hikes. We have also seen that in the previous revision, RBI has taken a pause, and we'll wait and watch what new direction does the RBI give on this. Having said that, I'll answer the question in two parts. One is overall impact on the real estate front, and secondly, the impact on our own PropTech itself.
Despite the interest rate hike, there has been a continuous uptick in real estate transactions as reported by multiple media and sources in terms of the bookings and when you track real estate developers, even the listed ones, you see a significant uptick in the bookings and the sales that are happening. So that is whenever such a sales in transactions have happened, there is a follow through demand in terms of allied property services, and that is one area we as a PropTech company would expect to benefit from. Second is that, as I said, since RBI has taken a pause, inflation being its primary concern, we believe that, you know, there shouldn't be a very long-term impact in terms of sales transaction.
There could be a momentary pause or a dip. At the same time, coming to the second part where I talk about impact on, on us, we actually see that whenever there is such interest rate hikes or whenever there is a bigger challenge for developers to distribute or offload their inventory, that's where some of our services, which are hinged on enabling developers to reach faster and sharper to the target clients. That's where our offerings, that's where our partner companies, actually are able to deliver value and hence we as a company benefit from that. Right?
Our services are in a way, quote-unquote, hedging against this interest rate cycles or by design and by virtue of the offerings that we take to the developer community. In that sense, that is one aspect. The second aspect that positive impact on our company is that we are not aligned only to the retail sale transactions, specifically only residential real estate market. As a PropTech company, our services, our tech-enabled services cater to the rental, the co-living aspect also significantly. Hence, you know, that's a little more or relatively more recession-proof or interest rate revision-proof business as you may, as you may call it. Hence, the impact gets further subdued because of that. I hope I was able to answer to you.
Yeah. Thank you so much.
Thank you. The next question is from the line of Pawan from Compound 26 Capital.
Hello. Hi. I had a couple questions. The first one was, could you provide me the breakup of revenue, business-wise for the quarter?
Sure. We provide the breakup of revenue under the segment SaaS and RaaS. The SaaS revenue for this quarter was INR 6.04 crore, and the RaaS revenue was INR 39.32 crore. Total INR 45.66 crore.
Under VaaS you have K2V2, BeyondWalls and HelloWorld. Would it be possible to get like what's the major component out there? What's the major revenue driver out there?
VaaS will definitely have HelloWorld and BeyondWalls business. If you ask for the numbers, HelloWorld has made around INR 51-52 crores in this year post the date of acquisition. That is what we have consolidated in the numbers. Total revenue that they have made during the 12 months is INR 63 crores.
Out of the quarter of INR 39 crores. BeyondWalls has,
INR 39 crores, HelloWorld has done around INR 17 crores.
INR 17 crores. Beyond- Sorry, BeyondWalls is INR 17 crores?
Beyond BeyondWalls has done around INR 12 crores.
Okay. Got it. The second question was, what is the status of the sale of the residential building? I think we've been talking about that for a couple of quarters. Is that something that's being contemplated?
Sorry, I couldn't get you. The voice was not clear.
What is the status... Can you hear me now?
Yes. Now this is better.
We have been hearing the last couple of quarters about, sale of, two buildings.
Look, we have got two buildings. One is around 120,000 sq ft, another around 30,000 sq ft. Right now the bigger building we have already put it on lease. And the smaller building is still available with us. We are still expecting the market to grow little bit more. We are waiting for that. We are not in a hurry, though there are two or couple of opportunities that came to us, but we have not gone ahead. We are just keeping those things on hold because right now the buildings are profitable in that in the industry.
Okay. Understood. Thank you for that. I'll come back to you too.
Thank you. As a reminder to all the participants to ask a question, please press star and one on their touchtone telephone. The next question is from the line of Rahul Shah, Individual Investor.
Hello. Hi. two questions. First, any new product offerings you are planning, be it for VaaS or SaaS, any of them? The second question will be on your outlook. Near term, quarter like the first quarter for this FY2024 and even long term, like which areas in this business you think will work the best going ahead, any challenges you foresee, and if you can just follow that with any guidance or outlook in general, with which factors will drive the growth for the business? Thank you.
Rahul, you'll have to help us with your first question. We couldn't quite get the line. Second, we have understood.
Sure. I was just asking on the product offerings. In RaaS and SaaS, are you planning on developing new products for the market?
Okay, just to rephrase so that I understand your question clearly, the first question more specifically, you are looking for some understanding on in terms of our product offerings in future or any new offerings specifically. Is that correct?
Yes, yes. Be it for RaaS or the SaaS solutions which you operate.
I'll take the SaaS first. As you know, we have two major or the two large contributing SaaS products. One is in the co-living segment, the other in the transition segment or the developer side. There, we are continuously upgrading our product features in line with the feedback that we continuously keep receiving from the developers who are our clientele and customers. Seeing what further integration that we can do with other SaaS products or ERPs that the developer might be adding. That's the more of product augmentation plan that we have, which is a continuous plan anyway.
The second, as far as the other B2B SaaS product that we have in our portfolio in the form of TheHouseMonk, there we are right now catering to property managers, property owners in the residential or the co-living segment. There we have two, three product ideas which are as of today under POC or, with seven to eight clients in the commercial space. Once the POC is over in the next two to three months, we will be launching them further to a wider clientele base.
Third, we have, we also have under the hood, an ERP, a light CRM, SaaS product, in the name of Kailash, which has without significant investments in go-to-market efforts already clocked more than 1,000 odd clientele. We are very excited about the growth of this particular product. Once again, this is right now in the POC stage only, and we are not monetizing it heavily, right? Once the POC ends, we'll take this product to market. This is as far as the SaaS is concerned.
As far as the RaaS services are concerned, in the co-living segment, as of now we are focusing on around 10 major cities with three cities where we aim to have leadership positions. From a segmentation point of view, we are in the mid segment, and we have a few offerings going towards the premium side as well. The third subsegment would be the student living segment where we are also one of the market leaders there. We will continue to focus there on the supply side, supply acquisition side in line with where the demand is coming from, right? That's where that has been our forte, and that's what we'll continue to focus on.
In terms of the other RaaS offerings, I think we have BeyondWalls, which got introduced to the market almost around a year back. I think we are now in a position to take this at more from a new markets point of view rather than specifically new offerings. Continuous product development, addition of features, et cetera, would continue under the BeyondWalls overall product. Now the time is for the pro-product to be taken to a wider market, and that's what we will be focusing on there. I hope that kind of gives you an idea of our product strategy.
Yes, yes, definitely. On the second part of my question, which was on the outlook, if you can...
I'll just actually share. I think the financial year 2023 has been a very defining year for Aurum PropTech. We did INR 139 or INR 140 crores of revenue in this year. With last quarter being INR 51.25 crores or something around that time. We think that the way we look at the upcoming year is that there is very tremendous discipline in execution. There's tremendous focus today with all the companies and all the products that we have in the market. In terms of development, the products that are getting in and the features that are getting into the market are almost on schedule.
It kind of gives us tremendous conviction that we should be on a strong growth momentum going forward as well, quarter-on-quarter. I guess at this stage, that is what we can share in terms of guidelines and outlook.
Okay, at least you can say that from here it will be upwards in terms of trajectory of the group. Hello?
We again couldn't catch your words clearly.
What I get from your explanation is we can at least expect a good, like, upward trajectory in terms of growth, even top line and EBITDA both.
That is for sure. That is for sure that we are on a great growth trajectory. There's no reason for us to kind of slow down on that. Also another factor that has been very encouraging is that our expense to income ratio has come down from 1.6 to 1.2 from Q1 of last year to Q4 of this year. We are also keeping a keen eye on the expense to income ratio while we are keeping a very strong focus on the growth momentum. You know, it's that much easier to grow if you don't look at expense to income ratio.
The balance of that is the challenge, and that is what we are all focused upon. I think the last year has given us that conviction and signs that, look, you can grow exponentially and you can still be on the path to profitability.
Okay. Okay. Thank you, Ashish, and wish you all the best.
Thank you. The next question is from the line of Aditya Sen from Robo Capital. Please go ahead.
Hi, team. It is really phenomenal to see how the company is doing and also that how we are matching our guidance. We have already achieved the ARR of INR 50 crore that we INR 200 crore that we targeted earlier. I'd like to continue with the previous question, the question that has already been asked. That is, we... Can you please help us with the revenue of different business segments that you have? That is the K2V2 Monk Tech, Integrow, et cetera. Because if we get to know these, then only we can understand the business very well.
look, it is difficult to call out all the numbers because you are asking very specifically, and the numbers will definitely come out when we publish our annual report. I'll just give you the numbers, the breakup of the INR 126.87 crores of revenue from operations company-wide.
Sure.
The Aurum, the companies under Aurum has done around 17. Yet to reveal has done 51.
Okay.
The world, 52. Aurum Analytica has done 6.79.
6.79. Okay. Okay. This will help us and we'll have the details in the annual report, right?
Yeah. Whenever annual report comes out, you will get the details because that is to be published for you.
Okay, that works. Also, I believe that the company must have some vision for, let's say, upcoming three, four, five years. Some aspirational target that we are looking forward to in terms of revenue and EBITDA at least five year down the line.
Look, this is Ashish here. This year is, you know, three years forecast is difficult to kind of guide you on the call. What we are clearly seeing is that the company, as I said earlier, is on a tremendous growth trajectory. We are very focused on being conservative with capital. We think that we have put in the right financial prudence. We think that we are able to now scale up products. Our management is able to work with companies, integrate them, bring them to a collaborative effect, get them to work together.
Our technology, data, capital and services, all four are integrating well along with the entrepreneurial setup that we have and things like that. While of course we have the 2026 internal revenues, which are very, very aggressive, but, I'll say, I think we need to, we need to take it by the quarter and kind of play that out.
Okay. Okay. Yeah, that works for us. Thank you. You guys are really doing a great job. Thank you.
Thank you.
Thank you. The next question is from the line of Nidhi from Fincon. Please go ahead.
Hello.
Hello, Nidhi. Your line is unmuted. You could speak now.
Yeah. Just wanted to know, what do you think about the future prospects and the expected market size of PropTech space? Any new company acquired or any new product or service developed during the FY2023?
Thankfully you've asked about PropTech and not Aurum PropTech. Little easier to answer because with Aurum PropTech, we have limitations on making forward-looking statements. As far as the sector is concerned overall, right, we have continuously maintained and stated how bullish we are, and then we drive our vision from a 2030 projection of the Indian economy, of which if you take 10%, actually it is around 13% as the property sector as a percentage of the GDP.
Within that, if you take the PropTech as a segment, that is another 10%. That itself is roughly a $100 million dollar opportunity in the next seven to eight years now. Within that, the way we broadly see is that fortunately or unfortunately, the adoption of technology has been lagging compared to many other sectors. For example, retail or any other manufacturing or logistic sector, for example. Where tech adoption has been faster than it has been in property. That gives us a huge opportunity to scale up at the juncture we are in.
This adoption is happening across the entire life cycle of any property unit consumption, be it commercial real estate or residential real estate, which starts from conceptualization of the residential or the commercial project to its construction, to its delivery, to the sales and marketing part of it, eventually consumption part of it, which could be in terms of leasing, renting out. Then there are tremendous opportunities for tech play to make life simpler, easier, efficient for the entire ecosystem, right? That's what if you look around in terms of PropTech, there are many exciting propositions and startups coming up.
We as Aurum PropTech have been fortunate enough to have the right presence already marked and where we could grow further from here in terms of, for example, A, the transaction space. Right now we are focusing on the residential part. B, the rental and living, where through HelloWorld and co-living segment, we have a very good position to grow further. I'm talking about long term. Seven, eight years, the opportunity could be very large. Three, the other wider segment is where the capital services come in, where the efficiency play comes in for enterprises, right? When we try to paint the canvas of PropTech, One, it's exciting simply because among the amount of growth prospects is present.
At the same time, it's even more exciting with the applications of tech, and more so now with AI, ML, the use of big data at the bottom of it and then the adoption opportunity that is presented by the property sector in India itself, right? Sum total is of it, I think, we continue to remain excited and motivated by the opportunity that PropTech has.
Could you give a detail about top products across SaaS and PaaS and the most revenue generating product?
We partly covered it in the previous question, but I'll reiterate. As far as SaaS products are concerned, we have. One is Sell.do under K2V2. The other is TheHouseMonk under Monk Tech Labs, right. These are the two main SaaS products as of now. There are a couple of other products which are under the POC or the development stage, and their revenues have not yet started kicking in materially. Then moving on to the PaaS services. We have one, the HelloWorld co-living business. Second, K2V2's BeyondWalls business. And then, Integrow's asset management services. Then, followed by Aurum Analytica. You know, order particular, but Analytica was the last transition that we onboarded. Aurum Analytica is also part of the PaaS offering.
Okay. Thank you.
Thank you. A reminder to all the participants, to ask a question, please press star and one on your touchtone telephone. The next question is from the line of Vipul Arora, Individual Investor. Please go ahead.
Thank you, everyone. My question is to B2C segment. I learned that Aurum in the last few months introduced some of the B2C products like Aurum KuberX, InstaHome and Aurum Liv. All those products are typically for the consumer side. Acquiring the customer is bit costly as well as retaining is also pain. My question is, because those are the new products and we have a couple of competitors as well with a good balance sheet, so they are also in the same space. My question to Mr. Ashish Deora, so could you please share your thoughts and give us some light about your planning about the products that we recently introduced, especially into the B2C segment?
Yes, Vipul ji, this B2C segment is always tough. The CAC, what is the, is becoming higher and higher with time. Effectively to garner INR 1 of revenue, the companies are spending more than INR 1, but sometimes INR 10 to garner INR 1 of revenue. We definitely do realize that, and while realizing that we have put products in the B2C segment. Also our own philosophy and DNA doesn't allow us to spend a lot on the consumer acquisition costs, which typically companies do. If you look at the KuberX product, KuberX is a loan aggregation product.
If you look at InstaHome, with InstaHome we are trying to solve the secondary homes market, which according to us, nobody has been able to crack until now. With Aurum Liv, we are trying to solve the primary segment market. To my mind, the Aurum Liv is that much easier with lesser customer acquisition costs. Then comes the KuberX, and then comes the InstaHome. What we are getting is a tremendous amount of support and feedback and data from various of our own companies, which we integrate with these B2C products, and then we kind of bring it out for Aurum Liv.
For example, KuberX can also work with BeyondWalls and Aurum Liv home buyers with a zero CAC, right? Whoever is buying homes on Aurum Liv and BeyondWalls also generally need home loans. That is why there is a connect between KuberX and BeyondWalls. So on and so forth. This is the way we are building the B2C products. Our ramp-up on B2C products will be not as fast as the other companies, but it will definitely be more sustainable with more cash prudence, more cash conservative approach, than most of the other companies. This is what our strategy has been on B2C products.
Also, we are now in process of launching data products, which is called Aurum Data Hub, which is again a B2C data product, which we think is brings tremendous value for home buyers and whether it's primary or secondary. That also helps KuberX, InstaHome and Aurum Liv because of the knowledge that Aurum Data Hub will provide to these potential home buyers. Home buyers or people who are also wanting to bank homes. We have I think a 360-degree strategy on how to keep the CAC low and at the same point of time, run these B2C digital products. These are early days. We feel very confident, I think these are early days on how we kind of approach this.
Okay. Makes sense. The second part of my question is, now we have couple of partner companies, the synergies will definitely be like working each other. Are you going to facing any kind of challenges to being or managing the particular founders at the same place with the same mindset that you have in your mind, especially with the partner companies?
There are always challenges, right? Whenever there'll be people involved, there will be challenges. Even with the own team members, there can be challenges. I can't say that there are no challenges or zero challenges. But the way we think that we are whether we are being able to bring value to the to our partners or to the founders or to our management teams or not, right? The good thing about tech business is that it can be very collaborative, it can be very win-win scenario. For example, BeyondWalls, which was the first company that we had worked with and we partnered with. Now they are kind of working with us for also for along with KuberX, right?
Also, we are now working with, they are helping a company like Shriram Properties to come into Pune, because Aurum also acquired 15% in Shriram Properties. Not Aurum Properties, but the holding company of Aurum also acquired 15% in Shriram Properties. They are also now kind of working with Shriram Properties in Pune. This is the ecosystem that we talk about. I think if the founders and the management team is busy with more and more challenges, then there are less challenges that they pose for each other, and that is what we are trying to work on.
Yeah. Got it. Yeah, especially you just pointed out like the clients, especially Shriram Properties as well. Aurum Analytica have great client base. Are we also trying to cross-sell the products with which definitely matching to the clients? Are we able to cross-sell in some point of time? Maybe not today or coming future, I mean.
Yes, that's definitely in the plans. Having said that, yes, we're very cautious about, you know, the right synergies. One key element and in the previous, you know, meetings, we have called about a platform called Aurum Entrepreneurs Forum, where we actually get these founders to talk about those synergies, common go-to-market strategies and plans. There are already including of Aurum Analytica as well as other organizations, you know, those synergies or those joint go-to-market plans, et cetera, are have been called out, ironed out, and then the POCs are in underway. Right? That's definitely there on the cards. That's one of the pillars of the ecosystem collaboration that we have. You're right. Yes, we are working on those.
All right. Got it. Thank you.
One request. I'll just, sorry, add one to what Hiren said. Also, what we are doing is we are keeping a keen eye on the numbers. What it does is that if effectively we have seen that company growing to two to three times in 18- 24 months. That is what we have seen from the time that we have acquired or invested or started to partner with them. We are just kind of ensuring that that growth trajectory is continuing with each product, with each company, with each team, with each B2C product, et cetera.
I think that growth focus without using too much capital is kind of getting everybody together to help each other in that collaborative fashion, which we run through Aurum Entrepreneurs Forum, which Hiren was talking about.
Definitely. You have really mixed such kind of platform which basically collaborates by the whole founder. Just one request to management. If possible, sir, can you please in even though now, not today, but any future you can invite the investor so that we can meet you as a face-to-face. It would be really great. Thank you.
Sure, sure. We will, we'll try our best.
Thank you very much.
Thank you. The next question is from the line of Devang Chugani from Divan Management Private Limited. Please go ahead.
Good evening, everyone. My question is for the Aurum InstaHome. How can you compete competitors like 99acres and other pre-established people in the sector with the Aurum InstaHome app? Are you planning to beat them or are we planning to build a different consumer base altogether?
Thanks, Devang, for the question. Just to clarify, we actually do not with Instahomes, we do not compete with 99acres. Their offering is completely different. They are a listing platform to, you know, yes, potential buyers are able to meet potential sellers, right? It could be C2C, it could be B2C. Whereas Instahomes is a pure C2C transaction platform that we are aiming to build, right? Where somebody who's wanting to sell their inventory, sell their residential unit is able to reach out to a potential buyer, right? That's the offering there, right? In a way, we do not compete with 99acres. Having said that, in the C2C residential sales market as Mr.
Ashish was pointing out earlier, it's a problem that remains to be solved, and that's the opportunity that we are actively trying to solve. Tech platform solving for various fundamental challenges in the space, be it in the form of trust or the amount of time it takes to either sell or buy a residential property in secondary sales. Right? These are some of the challenges that we are aiming to solve with our tech platform.
Okay.
Devang-
And, uh-
Just to give some better idea. The primary residential market, you know, generally in India averages to around, INR 2.5 lakh units being sold on a yearly basis. If you take an average, you know, apartment value of INR 20 crore and assume a 2% brokerage on that, the primary market accounts for about a INR 4,000 crore market on a yearly basis. You know, taking a similar number for the secondary market, if it's a INR 4,000 crore brokerage market, cake available for everybody, and, we're just, you know, started on our way re-up there side.
Okay. Thank you. I had another question for the HelloWorld, which we have. HelloWorld is being a star performer for us for a very long time since we have acquired it. Are we planning to make it available in more cities like it's available in 15 cities as of now, right? Are we just planning expanding it in different cities, or are we planning to have more of it in the current cities only? Like, more branches of HelloWorld in the current cities we already exist in or tapping new cities altogether?
This is Ashish here. Onboarding a city for any of the companies, including HelloWorld, is a major decision because it's very easy to expand, very difficult to maintain, and then even more tougher to shut operation in a city. We believe that I think we are in a very sweet spot with the 15 odd cities that HelloWorld currently operates in.
Of course, we review this on a monthly basis. You might see one or two cities kind of being replaced by two or three cities. The 15 number might become 16, 17 or 18. There is definitely no plan or strategy to be present in more than 20 cities even in next two or three years. The reason behind that is that it's an operations-heavy business.
It is our brand that is put upon that, so we want to be very careful on what kind of a value are we providing to the users of HelloWorld. If we expand into more cities then we believe can get a little diluted. We go slow. I think with 15 cities, in any case, you are covering a very large part of the country. Per se from a point of view of the total rent that we have. I think we are, we at HelloWorld are at a sweet spot on that.
To add to that, our choice of supply, right? It is not just at the city level, but also at micro locality level, is to ensure that we have a critical mass of properties as well as tenants. End of the day, it's all about unit economics and the operational efficiency, right? So single units in a large micro locality or very few units in a smaller city with in a city with a smaller potential, I think those are the kind of equations that we do not want to get into. That's why we are very cautious and that's why we chose the 15 cities at the moment.
The moment we see that, you know, the demand of co-living as a segment, right, starts growing in a particular city where there is, you know, tremendous employment generation of the right target segment that we have, we will definitely keep our eyes open.
Okay. Thank you so much. That answers my question.
Thank you. As there are no further questions, I would now like to hand over the conference over to Ms. Vanessa Fernandes for closing comments.
Thank you, [Lizan]. We thank all the participants who have joined us today, and, you know, have kept on continuously tracking us over the past four quarters. We thank you for your continuous interest, and we look forward to seeing you again in the next call. Thank you very much. Have a good evening ahead.
Thank you so much.
Thank you.
Thank you. On behalf of Aurum PropTech Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.