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 its fifth acquisition in the real estate space, with Realtycompass, Indian Realty Exchange, Commonfloor and Grabhouse being the previous buys. The company will also gain access to the offline brokerage market with HDFC Realty, which it says has a network of 7,000 brokers and a 300 member in-house team.With HDFC Developers, which runs the online platform HDFC Red, Quikr will acquire listings of over 7,000 projects and ...
