Quikr Realty bags another 5-yr mandate for auctioning stressed properties

Online-to-offline brokerage business Quikr Realty on Monday said it has bagged a five-year mandate from capital markets regulator Sebi for auctioning of over Rs 7,000-crore stressed properties.

This is second stint of empanelment of Quikr Realty, erstwhile HDFC Realty, by Sebi for valuation and liquidation of stressed assets, the company said in a statement.

"This multi-year empanelment which is renewed for another five years will leverage the company's pan-India builder relationshipsand the transaction mandate includes over Rs 7,000 crore worth stressed properties," it said.

Quikr Realty, however, did not specify the key stressed projects forwhich it had received the mandate.

The company has builder relationships across 22 cities and more than 4,800 brokers in its network to oversee real estate e-auctions.

Quikr Realty's earlier associations with Sebi included liquidation of Pearls Agrotech Corporation (PACL), Sahara and Unitech assets.