Info Edge (India)

“We expect 99acres to generate positive operating cash for FY27, with cash generation strengthening over time.”

“Starting with the Recruitment segment, in Q2, Recruitment billings grew 13% and revenue grew 13%. Operating profit increased 20% at an operating PBT margin of 59%, and cash from operations increased by 20%.”

“Adjusting for these timing differences, we estimate underlying growth at around 15% in Q1 and around 14% to 15% in Q2.”

“Across sectors, Q2 billings grew 3% in IT, Tech and BPM, 7% for GCCs and 18% in other sectors, while recruitment consultant billings grew 7%.”

“In H1, growth was 9% in IT, Tech and BPM, 19% in GCCs, 16% in other sectors and 5% for consultants.”

“Beyond B2B, our jobseeker business, Naukri 360, grew billings by 37%. Paid subscribers are now 2.7% of monthly active users, compared with 1.3% in January'25.”

“Hiring activity stayed steady, led mainly by replacement demand, with some pickup in a few segments.”

“In fact, premium jobseeker views on Naukri grew by 25% year on year in Q2.”

“Property enquiries across all categories put together grew 33% YoY.”

“New Projects remain a significant opportunity, which we estimate at about Rs.6,000 crores across digital and non-digital spend.”

“Housing, which was owned by REA earlier, has sold their business to Aurum, and Aurum has gone on record saying that they want to break even over the next four to five quarters. This means lower marketing cost.”

“The operating PBT margin was 41%, up 541 basis points year on year. Cash generated from operations was Rs.373 crores, up 27%.”

“The business operated at an operating PBT margin of 64%.”

“Like last quarter, we did notice that clients who bought our AI offerings ended up paying us on the average at least 10 to 15% more than clients who did not buy AI offerings.”

“We have a price for AI-Rex per mandate: Rs.3,500 per mandate for companies, Rs.2,500 for consultants.”

“Operating losses reduced significantly by 93% from Rs.23 crores in Q2FY26 to less than Rs.2 crores in Q2 FY27.”

“Cash generated from operations in H1 was Rs.598 crores, up 27%, and we ended September with a cash balance of Rs.4,976 crores.”

“99acres generated cash from operations of Rs.22 crores in Q2, against Rs.2 crores a year ago.”

“Cash generated from operations for the segment was Rs.3 crores versus a cash loss of Rs.2 crores in Q2 of last year.”

“That was the other big thing, we rolled out AI-Rex for consultants also in Q2.”

“We are building domestic counselling, supported by AI voice bots, to create a direct relationship with students rather than depending on search.”

“We are also taking 99Shorts beyond NCR to more cities.”

“Before we move to Q&A, as we announced today, I will be stepping down as Managing Director and CEO at the close of business on December 2nd, after nearly 27 years at InfoEdge, and Sanjeev will take on the role of Executive Vice Chairman, Managing Director and Group CEO from the 3rd of December.”

“Subject to shareholder approval, I will continue on the Board as a Non-Executive Director.”

“There's no decision taken on hiring more people yet.”

“The first priority will be to give internal people an opportunity to grow.”

“Having said that, I'm 63 years old. I cannot continue for 20 years.”

“AI-driven changes in search behaviour have reduced the referral traffic Shiksha relied on, and this continues to affect delivery outcomes for clients.”

“If there's a big layoff in the US, then there's a very high chance that people get laid off in India.”

“But there's volume pressure there. All said and done, IT companies are not hiring as many people as they were hiring earlier.”

“Provided, provided the ones who are using it right now renew it next year, and then it'll go on growing.”

“In Q2, standalone billings grew 13% YoY. Revenue grew 13% to Rs.842 crores and operating profit grew 30% to Rs.347 crores.”

“Excluding Shiksha, standalone billings grew over 14% in Q2 and about 16% in H1, against reported growth of 13% and 14%, respectively.”

“Not as if it's cannibalizing existing revenue.”

“70-80% of our revenue in Naukri comes from Resdex.”

“Our investment portfolio now spans around 135 companies across AI, deeptech and consumer tech, with about Rs.5,000 crores invested through our balance sheet and AIFs.”