Aurum PropTech bags 53% stake in Grexter Housing for Rs 27 cr
09 Feb 2022
2 Min Read
CW Team
Aurum PropTech Limited, formerly known as Majesco, approved acquiring a 53% equity stake in Grexter Housing Solutions for Rs 27 crore.
Grexter Living will use this capital to expand its business in co-living space.The company aims to strengthen product offerings by improving its technology platform and focusing on engagement in co-living spaces.
The company uses the technology platform TheHouseMonk, a product of Aurum PropTech Group Company.
CEO and Founder of Aurum Ventures, Ashish Deora, said that Grexter Living is a strategic fit in the company's Connected Living Segment of Integrated PropTech Ecosystem.This acquisition will continue the company's inorganic growth spree of building products and services in the Aurum PropTech value chain. With its SaaS products, the company will add to the real estate business as a Service RaaS business.
After the acquisition of Aurum PropTech by Aurum Ventures last year in June, it gained control of SaaS-based technology firms, K2V2 Technologies Private Limited and Monk Tech Labs. It has also invested in Intergrow Asset Management Private Limited.
CEO and Co-founder of Grexter Living, Pratul Gupta, said that the Integrated PropTech ecosystem would catalyse the company's co-living business, along with funds influx it will accelerate the growth at Grexter Living.
He said the company creates community experiences in its spaces, which is now crucial for rental real estate consumers post Covid-19 pandemic.
He added that the company plans to expand and become the largest co-living operator across India in the next 18-24 months.
Co-living spaces are suitable for working professionals between 22-30 years of age. According to a report, connected living spaces and shared spaces are expected to increase their market share through co-living and co-working.
Real estate has transformed with millennial behavioural patterns and growth in the Information Technology-information technology enabled services (IT-ITES) sector. Both the owners and tenants face conventional challenges by co-living and co-working companies.
Also read: 360 Realtors to acquire 2 lakh sq ft of commercial and retail space
Aurum PropTech Limited, formerly known as Majesco, approved acquiring a 53% equity stake in Grexter Housing Solutions for Rs 27 crore.
Grexter Living will use this capital to expand its business in co-living space.The company aims to strengthen product offerings by improving its technology platform and focusing on engagement in co-living spaces.
The company uses the technology platform TheHouseMonk, a product of Aurum PropTech Group Company.
CEO and Founder of Aurum Ventures, Ashish Deora, said that Grexter Living is a strategic fit in the company's Connected Living Segment of Integrated PropTech Ecosystem.This acquisition will continue the company's inorganic growth spree of building products and services in the Aurum PropTech value chain. With its SaaS products, the company will add to the real estate business as a Service RaaS business.
After the acquisition of Aurum PropTech by Aurum Ventures last year in June, it gained control of SaaS-based technology firms, K2V2 Technologies Private Limited and Monk Tech Labs. It has also invested in Intergrow Asset Management Private Limited.
CEO and Co-founder of Grexter Living, Pratul Gupta, said that the Integrated PropTech ecosystem would catalyse the company's co-living business, along with funds influx it will accelerate the growth at Grexter Living.
He said the company creates community experiences in its spaces, which is now crucial for rental real estate consumers post Covid-19 pandemic.
He added that the company plans to expand and become the largest co-living operator across India in the next 18-24 months.
Co-living spaces are suitable for working professionals between 22-30 years of age. According to a report, connected living spaces and shared spaces are expected to increase their market share through co-living and co-working.
Real estate has transformed with millennial behavioural patterns and growth in the Information Technology-information technology enabled services (IT-ITES) sector. Both the owners and tenants face conventional challenges by co-living and co-working companies.
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Also read: 360 Realtors to acquire 2 lakh sq ft of commercial and retail space
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