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Quikr brokerage business to increase from HDFC Realty buy

Once this deal goes through, Quikr would have added 5 firms in real estate in the past two years

Alnoor Peermohamed  |  Bengaluru 

Quikr brokerage business to increase from HDFC Realty buy

Tiger Global-backed online classifieds company will expand its brokerage business once it acquires 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 needs. Quikr, which has shifted its focus from horizontal to become a vertically 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 and acquisition goes through, would have added five firms in the space in the last two years.

In 2015, it had bought smaller rival and agent aggregator Last year, stitched a $200 million deal to merge with as part of its decision to cut losses in the online space. It also acquired Grabhouse, a home rental in November.

A term sheet has been signed for the deal, a person familiar with the development said. A spokesperson declined comment.

The online business has seen significant consolidation in the Indian startup space. Softbank funded merged with Corp-backed In April 2015, acquired classified platform for India's first online to offline platform.

Another global realty consultant, Coldwell Banker, acquired tech based property brokerage in an all stock deal.

The nearly ten year old has raised $ 346 million from investors such as Tiger Global, and

Since January last year, has acquired Salosa, and in the home services segment, and in the segment, Hiree in the recruitment segment and Stepni in the automobile services segment.

Quikr's push for a vertical play comes even as global player and its local rival begin to encroach its space. has integrated its peer to peer platform Junglee for consumers, while rival has entered the peer to peer space with the four million user base it added with the acquisition of the local unit of eBay Inc. OLX, the Naspers-owned listings player competes with in the pure play listings space.