HDFC to sell HDFC Developers, HDFC Realty to Quikr India for Rs 357 cr

For Quikr, the deal marks its fifth acquisition in the real estate space

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