Quikr triples its real estate revenue, expects 100% growth

Bengaluru-based online classified platform Quikr has announced that its real estate vertical has tripled its revenue in the last 12 months and is on track to again grow more than 100% in the next 12 months. Quikr’s real estate vertical contributed 35% of its overall revenue last year. At the end of FY17-18, Quikr’s overall business was generating revenue at an annualised run rate of $50 Mn, the company said in a statement. On the back of this growth and its high margins, the company said its real estate vertical gained profitability in March. “In general, Quikr’s strategy of offering transactional models on top of its large classifieds base is delivering very strong results,” it added. The company says its classifieds businesses, Commonfloor and QuickrHomes platforms have also grown 75% from April to March in the FY17-18, and expects to double the size, this year.