Horizontal classified platform Quikr‘s real estate verticals have finally turned profitable. At the current rate, its revenues will likely rise two-fold to about $24 million U.S. by the end of this fiscal year.

Quikr’s acquisitions since 2016 have worked in its favor, contributing to a major chunk of its revenues. According to The Economic TimesCommonfloor and HDFC Realty were the primary fiscal drivers.

The publication reports that Quikr’s revenue from its real estate verticals peaked at about $2 million in the month of July alone. This is three times the average monthly revenue about a year ago. The Indian real estate sector has significantly recovered in the past year, after facing a downfall in 2016.

Quikr raked in high margins through brokerage, leading to profitability in March. Real estate profits made up 35 percent of the company’s more than $15 million revenue for FY16-17.  Results for FY17-18 haven’t been released yet.

The horizontal began looking at vertical strategies in 2015. It bought Commonfloor, its first major acquisition, in January 2016. It then bought Grabhouse in November 2016, before merging the platforms to form QuikrHomes.

The past year saw the horizontal classified company acquire HDFC Realty and HDFC Developers in an all-stock mega deal. Strategic partnerships and some minor acquisitions, later on, have had a hand in the financial success of Quikr’s real estate verticals.

The company faced stiff competition from 99Acres, MagicBricks and Elara Technology’s Housing.com.

Quikr boasts over 30 million monthly visitors. Its investors include Tiger Global, Kinnevik and Warburg Pincus, among other reputed venture capital firms across the world.

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