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Telstra Eying Real Estate And Home Furnishing Site Acquisitions In China And India

By Nikhil Pahwa - Thu 21 Feb 2008 12:00 AM PST

Solomon Trujillo, CEO of Australia’s largest phone co Telstra has told Reuters that the company is interested in making acquisitions in online businesses in China and India, among others, to complement its SouFun business. SouFun, a real estate and home furnishing website, was acquired by Telstra in 2006 for $254 Million. This statement appears to be more of a declaration of intent; I don’t know of any home furnishing websites in India, but there are a bunch of real estate sites, including MagicBricks from Times Business Solutions, 99acres from Naukri, Indiaproperty from Consim and Makaan from the People Group.

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From Sairee Thu 21 Feb 2008 01:52 AM

Branded Home Furnishings (bed and bath linen) is dominated by companies like Welspun, Jagdish Stores, Shyam Ahuja, Bombay Dyeing, Vardhman and Varun Industries. Some of them like Jagdish Stores and Shyam Ahuja use their online presence but most don’t. However, in the home furnishing segment there is entire play of industries like laminates, flooring, fittings and fixtures, electricals, paints amongst others. All these segments are witnessing a boom owing to rise in the housing, hospitality and lifestyle spends.

The closest one gets to an online property in this space is http://www.indianhomefurnishing.com part of trade-india (Infocom Network)