HDFC Realty CEO Vikram Goel. Image Credit: The Financial Express E-commerce companies and aggregators in the real estate space are struggling with their business and have yet to figure out ways to make enough money despite pumping millions of dollars into their businesses, The Financial Express reports. The HDFC Realty team is hoping their hybrid model combining on-line and off-line model that co-opts the broker will work in India. “Instead of fighting with brokers. We will collaborate with them,” says Vikram Goel, CEO, HDFC Realty, an HDFC Limited company. HDCF Realty plans to scale up by tapping into the network
For house owners, Square Plums offers the benefit of letting out a fully furnished house, with up to 50 per cent higher rentals, without having to spend on furnishing the house, E27.co reports. Square Plums, a branded rental homes platform in India, has received INR 3 crore (US$450,000) from Indian Angel Network (IAN). The round was led by experienced entrepreneurs and IAN lead investors, including VGN Prakash, Amitabh Shrivastava, Krishna Jha and Ravindra Krishnappa. The capital will be used to onboard the properties and build a robust technology platform for tenants, apartment owners and prospective tenants. The company also plans to
Real estate transaction platform Square Yards is investing aggressively in technology for its mortgage advisory business Square Capital aiming to become the largest loan aggregator in India. ET Realty reports the company is planning to invest $2 million in its online home loan technology subsidiary Square Capital, aiming to double loan disbursements to around Rs 1,500 crore by the end of current financial year. Square Yards entered the online home loan space more than a year ago with the launch of the Square Capital business which was intended to leverage the captive home loan business it originated from transactions taking place on its real estate platform. The company
Quikr founder and CEO Pranay Chulet. Image credit: thehindubusinessline.com Leading classifieds platform Quikr has acquired recruitment startup Hiree to strengthen its offer across the entire spectrum of job categories from entry-level, to blue, grey and while collar roles across India. The eBay-backed company will merge Hiree with its jobs vertical QuikrJobs and the new entity will operate out of Quikr's headquarters in Bangalore. With the addition of Hiree, which boasts some of the world's largest IT companies among its clients, QuikrJobs will preside over a platform connecting over 4 million active candidates with recruiters across the country. Hiree, which describes itself as a hiring platform with 'smart matching algorithms', offers
Fella Homes co-Founders from left, Virender Pratap Singh, Amit Gupta, Digendra Singh Rathore, Yadwinder Paul Singh Image Credit: www.viralindiandiary.com Indian fully furnished homes rental service, Fella Homes has acquired competitor LifePad along with its network of homes and Noida-based team in an all cash deal. Currently operating out of Gurgaon only, Fella Homes aims to leverage from the acquisition to quickly expand its network of homes and establish a multi-city presence. The company says LifePad homes will be rebranded Fella Homes and will be managed under the same banner with customers gaining access to a larger network of homes to chose from.
DB Corp Chairman Ramesh C. Agarwal (left) and Non-Exective Director Girish Agarwal. Image Credit: www.thehindubusinessline.com The latest Indian real estate portal to launch in India, Homeonline.com will go live nationally on 1 August 2016 after a year long investment from publishing giant DB Corp. DB Corp, which made the announcement in its Q1FY17 quarterly report, says it has been nurturing the website in Raipur and Bhopal to keep its real estate segment ‘strong and protected.’ For the quarter ended June 2016 (Q1FY17) the company's internet segment revenues were Rs 23 crore ($US 3.4m) up by 6.5 per cent from Rs 21.5 crore in the same quarter last year.
Info Edge chief financial officer Chintan Thakkar Info-Edge India-owned real estate portal 99acres grew 16.5 per cent in the June quarter but also posted a loss of Rs 21 crore down 40 per cent from Rs 36 crore at the same time last year. Chief financial officer Chintan Thakkar says the environment in the real estate market remains tough but losses at 99acres were lower compared to last year due to lesser competition. The company also reported a 17.1 per cent growth for its recruitment solutions vertical Naukri.com and says this business commands a 75 per cent traffic share of the jobportals market and is continuing
A new Delhi-based platform IndianRealtyExchange (IRX) allows brokers to list their portfolio, capture leads and even earn a margin on their transactions all for free. See the story on Inc 42 IRX cofounder Vikram Dhawan, There are dozens of web and mobile platforms offering real estate solutions. But most focus on the volume business where end customers are the focal point. By taking up the role of a marketplace to create more value for their target audience, these portals often ignore the middle layer of agents, brokers and property consultants, . Vikram Dhawan, formerly a senior manager in a real estate firm, found an opportunity to fill this gap and launched IndianRealtyExchange (IRX), a
India's Business Standard reports troubled real estate platform Housing.com only has enough cash for a few more months, with CEO Jason Kothari back in the market looking for a new investment. The report says Housing.com currently spends Rs 10.05 crore but only brings in Rs 1.2-1.5 crore a month. According to the Business Standard Kothari has approached a few strategic investors looking to raise capital in a few months, but he nevertheless maintained the company is stable and not in "urgent need" as suggested by the online newspaper's sources. Contrary to the claim, developments at Housing.com over the last eight months suggest the company is
Quickr's home beauty service is growing 100 per cent a month. In a move which reflects its growth beyond listings, Indian online classifieds company Quikr has rebranded its home beauty business Salosa to AtHomeDiva and expanded its operations from Delhi and Gurgaon to Bengaluru. In a move which reflects its growth beyond listings, Indian online classifieds company Quikr has rebranded its home beauty business Salosa to AtHomeDiva and expanded its operations from Delhi and Gurgaon to Bengaluru. According to the head of QuikrServices PD Sundar, the number of beauty service requests received on Quikr has been growing 100 per cent every month. Quikr founder and chief executive