The HDFC Quikr deal valued at Rs350-400 crore will see the housing finance firm pick up 5% stake in the online classifieds start-up. Ltd to sell its brokerage business HDFC Realty and its digital business HDFC Red in an-all stock deal, four people with direct knowledge of the matter said. HDFC Realty had revenue of Rs38 crore and a loss of Rs34 lakh for fiscal 2015-16, according to the annual report of HDFC. HDFC Red’s owner, HDFC Developers Ltd, had revenue of Rs6 crore and a loss of Rs12.4 crore in the same period. The company is pushing into five new business segments—automobiles, real estate, jobs, services and customer-to-customer sales.

Source: Mint April 26, 2017 20:15 UTC