MUMBAI: Online classifieds platform Quikr has acquired India Property Online Pvt Ltd, a Chennai-based property website. The move is a part of Quikr’s strategy to strengthen its real estate transaction and classified business.
Quikr has earlier acquired a number of companies in real estate space, including Commonfloor, and HDFC's subsidiaries HDFC Realty, and HDFC Developers. The latter two were acquired last year in an all-stock deal for an estimated Rs 357 crore.
Real Estate contributed to 35 per cent of Quikr revenue in FY17-18 and is a profitable vertical for the company. The business is on track to again grow more than 100 per cent in FY18-19, the company reveals.
It also says that the company is now the largest transactional player in real estate with two growing models - a co-living business to offer shared rentals to millennials, and a brokerage business for home buying.
