Current Affairs - Banking - Discussion

Housing Development Financial Corporation (HDFC) has sold its realty brokerage business 'HDFC Realty' and its digital real estate business 'HDFC Red' (owned by HDFC Developers) to online advertisements platform Quikr. Combined value of both these businesses of HDFC is being estimated to be about Rs 357 crore. In return, HDFC will get 3.5% stake in Quikr. In past couple of years, Quikr has been on an acquisition spree in the real estate business. In 2015, it bought real estate platform CommonFloor for about $120 million.