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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.