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Quikr
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.
Tiger Global-backed online classifieds platform Quikr has acquired HDFC Developers Ltd. and HDFC Realty Ltd. in a deal that is valued at Rs 357 crore, as it looks to earn higher margins by accessing premium realty buyers and also expanding offline.In a filing with the Bombay Stock Exchange, HDFC said that it had approved the 100 percent sale of HDFC Developers and HDFC Realty to Quikr for Rs 101.99 crore and Rs 254.98 crore respectively. It added that the sale of the two units would be completed prior to the close of the current financial year.For Quikr, the deal marks its fifth acquisition in the real estate space, with Realtycompass, Indian Realty Exchange, Commonfloor and Grabhouse being the previous buys. The company will also gain access to the offline brokerage market with HDFC Realty, which it says has a network of 7,000 brokers and a 300 member in-house team.With HDFC Developers, which runs the online platform HDFC Red, Quikr will acquire listings of over 7,000 projects and ...
Tiger global backed online classifieds company Quikr will expand its brokerage business once it acquires HDFC Realty and its digital unit HDFC Red, helping it generate higher margins for converting leads that it generates from its online properties.The brokerage business also helps it get access to more premium realty buyers, who need servicing for their real estate needs. Quikr, which has shifted its focus from horizontal to become a vertical focused listings player, has been on a acquisition spree over the last two years, to expand its offering on specific verticals. It has strengthened vertical play in automobiles, real estate, jobs, services and peer to peer sales. If the HDFC Realty and HDFC Red acquisition goes through, Quikr would have added five firms in the real estate space in the last two years. In 2015, it had bought smaller rival RealtyCompass and agent aggregator Indian Reality Exchange. Last year, Tiger Global stitched a $ 200 million deal to merge CommonFloor with ..
Online classifieds platform Quikr has expanded its Doorstep services to allow customers buy and sell used goods across cities as US retail giant Amazon sinks its teeth into the second hand goods market through Junglee.Quikr began testing its Doorstep service that offered customers in the same city an e-commerce like experience of buying and selling used goods. The service offered to handle payments, packaging and shipping of goods on behalf of the seller for a commission.The expansion of Doorstep will mean buyers and sellers can be in different cities, making it the first company to offer such a service. Amazon, through its platform Junglee today offers a very similar service for intra-city transactions, with the added benefit of the massive visibility its e-commerce platform offers."Historcially, these transactions have been limited by where and when a buyer and seller could meet, exchange products and money. Intercity takes this smarter solution and amplifies it exponentially by ...