QuikrRealty expects to do about Rs100 billion in sales
Tiger Global-backed online classifieds portal Quikr has announced that their new entity QuikrRealty expects Rs100 billion worth sale, but refused to give the timeline for achieving it. “As a single entity, we did about Rs25 billion of sale in its…

Tiger Global-backed online classifieds portal Quikr has announced that their new entity QuikrRealty expects Rs100 billion worth sale, but refused to give the timeline for achieving it.

“As a single entity, we did about Rs25 billion of sale in its value last year, and post the acquisition, the new entity QuikrRealty expects to do about Rs100 billion in sales,” Quikr Founder-CEO Pranay Chulet told PTI.

In December last, HDFC Ltd had sold its subsidiaries HDFC Realty and HDFC Developers to Quikr India for Rs3.57 billion in an all stock deal.

HDFC Realty was the offline brokerage business with a presence across residential and commercial properties as well as consulting and valuation services. It has a 300 member in- house sales team and 7,000 strong nationwide broker network.

Quikr had previously acquired four companies including Commonfloor. In 2015-16 fiscal.

HDFC Realty had already clocked a brokerage revenue of Rs380 million, but Quikr believes it can grow this business to a much larger size, Chulet said.

Asked about the revenue target for Quikr for next 3-4 years, he said, “We do not share our targets externally, but our revenue across our entire set of businesses has been roughly doubling in last three years.”

On future acquisition plan to scale up its business, Chulet said the company believes in acquiring good assets at a fair price to strengthen leadership in its five verticals and scale them faster.

With 30 million monthly users, Quikr is India’s largest classifieds platform that runs multiple vertical businesses across real estate, automobiles, jobs, services and goods.

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