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<ul><li>Shares of <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> (India) Limited reached ₹6,692 at 11:56 a.m. on September 8.</li><li>The development coincides with ICICI Securities issuing a buy call on Info Edge (India) with a target price of ₹8,040.</li><li>The analyst expects increase in hiring, real estate rentals and wedding trends to fill Info Edge’s pockets in the near term.</li></ul>Sanjeev Bikhchandani-led Info Edge’s shares reached ₹6,692 at 11:56 a.m. This represents an increase of ₹509 in value compared to the previous close of ₹6,183 on September 7. Over the last one month, Info Edge’s share price has increased by 23%. Each share was valued at ₹5,368 on August 9 compared to ₹6,692 at 11:56 a.m. The development comes as ICICI Securities has issued a buy call on Info Edge (India) with a target price of ₹8,040 today. The analyst expects the share to reach the target price in a span of one year. The analyst had issued a similar buy call in June with a target price of ₹6,300. ICICI Securities have now revised the target as <keyword id="6740899" type="General" weightage="20" keywordseo="info-edge-shares" source="Orion">Info Edge shares</keyword> have crossed the said target. In its latest report on Info Edge, ICICI Securities has elaborated on the strong points that would lead the company’s stock price to increase. The broking house has also revised the estimated valuations of Info Edge and its subsidiaries. “We value Naukri at 75x [times] financial year 2023 estimates earnings per share. We value 99 Acres and Jeevansathi [Info Edge’s subsidiaries] each at 20x FY 2023 estimated sales. As elaborated in our report, our 1-year forward valuation of Zomato [a portfolio company of Info Edge] stands at $22 billion.” <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032580" hostid="261"></div> Meanwhile, Info Edge’s portfolio companies — Zomato and Info Edge — are also moving away from the ‘startup’ tag to a maturity stage. Zomato has already hit the public market and bought over <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> in return for Info Edge, PolicyBazaar has filed <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers</a> to go public soon. Further Info Edge invested in another <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms">initial public offering (IPO)</a>-bound company ixigo in July. Key points working in favour of Info Edge <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032598" hostid="261"></div> Strong hiring could benefit Naukri.com Trends in other markets like the US, which publish job market data periodically, hint towards a significant demand-supply mismatch when it comes to hiring. In India, entrepreneurship, preference to work in startups and flexibility of workplace are going to be biggest drivers of this demand-supply mismatch in hiring, as per ICICI Securities. This is likely to benefit job search platforms like Naukri.com for the next 12-18 months. Vibrant job market will push more people to move out ICICI Securities in its latest report noted that several new trends have emerged in the proptech segment — low interest rate, strong pipeline, print to online shift in advertising, recent direct-to-customer (D2C) approach taken by builders to drive traction in online real estate classifieds. The brokerage firm predicted the spike in paid listing going ahead, which will enable Info Edge-owned 99acre.com’s EBITDA [earnings before interest, taxes, depreciation, and amortisation] profitability to exceed the street estimates. ICICI Securities, however, also noted that competitive intensity is one of the key reasons for the suboptimal profitability in this segment for Info Edge. Besides this, the decline of funding in the real estate segment is also pushing Info Edge’s competition to reduce cash burn. “Nevertheless, the full stack aspirations of competitors like Square Yards is a key risk to watch out for,” the report added. Matchmaking is back on the table Easing of lockdown restrictions and best-in-a-decade job security will encourage more people to look for their partners on matchmaking platforms. ICICI Securities is anticipating a sharp increase in paid listings in the near term to also drive EBITDA profitability, in FY23. This will be a surprise to the current street expectation, the ICICI Securities added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the <keyword id="2066292" type="PERSON" weightage="20" keywordseo="online-food-ordering">online food ordering</keyword> platform acquired the India business of <keyword id="4427948" type="PERSON" weightage="20" keywordseo="uber-eats">Uber Eats</keyword> in an all-stock deal. Shares of Info Edge (India) rose 3.47 per cent to trade at Rs 2,676.10 per unit on the BSE. On the NSE, the stock gained as much as 3.2 per cent to Rs 2,675.
 Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform.
 Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, as per a company statement.
 In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and diluted basis upon closing of the transaction. RUJ ANS
ANS

Zomato owner Info Edge's stock gains 3% after UberEats buy

New Delhi, Feb 12 () Info Edge (India) on Wednesday posted a consolidated loss of Rs 62.1 crore for the quarter ended December 2019. The company had posted consolidated profit of Rs 330 crore in the year-ago period, Info Edge (India) Ltd said in a filing to BSE. The consolidated income of the company, however, increased to Rs 359.7 crore in the October-December period, over Rs 323 crore in the year-ago period. Commenting on the results, the company's CFO Chintan Thakkar said, "We are pleased to witness yet another robust quarterly result containing double digit growth in all key matrices such as billing, revenue nd operating EBITDA on year-on-year basis. We continue to leverage our strong cash surplus position to invest in technology and branding." Info Edge (India) runs leading internet businesses Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. Shares of the company were trading at Rs 3,001.40 apiece, up 0.14 per cent from the previous close on BSE. SID ANSANS

Info Edge reports Q3 loss at Rs 62 crore

New Delhi, Jan 21 () Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday erased its early gains and settled nearly 2 per cent lower.
 Shares of Info Edge (India) rose 3.47 per cent to touch intra-day high of Rs 2,676.10 per unit on the BSE. However, it ended the day with a loss of 0.23 per cent at Rs 2,583.20.
 On the NSE, the stock gained as much as 3.2 per cent during the day to Rs 2,675. The scrip closed in red at Rs 2,545, down 1.80 per cent over previous close.
 Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform.
 Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform effective Tuesday as per a company statement.
 In a regulatory filing to the BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and diluted basis upon closing of the transaction. RUJ SHW
SHW

Info Edge shares shed early gains, settle nearly 2 pc lower

<ul><li><keyword id="3401632" type="PERSON" weightage="20" keywordseo="InfoEdge">InfoEdge</keyword> has acquired Highorbit Careers Pvt. Ltd which runs <keyword id="2597894" type="PERSON" weightage="20" keywordseo="IIMJobs">iimjobs</keyword> and hirist.com in a deal worth ₹808.1 million. </li><li><keyword id="79563" type="COMPANY" weightage="20" keywordseo="Naukri">Naukri</keyword> has more than 475,000 jobs on its platform at any given point and has more than 60 million registered job seekers on its platform.</li><li>InfoEdge runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com was one of India’s early startups to head for an IPO. </li></ul>One of India’s earliest internet companies InfoEdge, which runs the country’s oldest and biggest recruitment portals like Naukri.com, has acquired Highorbit Careers Pvt. Ltd which runs iimjobs and hirist.com. “In India, internet businesses are just starting. We continue to look for good opportunities outside to invest for our internal businesses to grow,” Hitesh Oberoi, Co-Promoter, MD and CEO, InfoEdge had told Business Insider. InfoEdge will be acquiring 100% of Highorbit Careers Pvt. Ltd in a deal worth ₹808.1 million. Naukri has more than 475,000 jobs on its platform, along with more than 60 million registered jobseekers. With products such as Resume Database Access, Job Postings and Response Management Tool for over 76,000 corporate clients, the portal has a traffic share of over 70%. iimjobs, which was founded in 2010, has 23,000 job postings with 1.8 million job seekers every month. In 2016, iimjobs had raised funding worth $2 million from India Quotient, an early stage investment firm. According to <a href="https://inc42.com/features/the-128-startups-that-raised-funding-from-the-dipps-fund-of-funds/">reports,</a> iimjobs had also raised funding from Department for Promotion of Industry and Internal Trade. “iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker community. Its value proposition strongly complements Naukri’s proposition to its customers,” said Oberoi. InfoEdge, which runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com, was one of India’s early startups to head for an IPO. See Also: <a href="https://www.businessinsider.in/ibm-watson-to-mentor-indian-women-in-emerging-tech/articleshow/68385820.cms">IBM’s AI platform Watson to mentor over a million Indian women for ‘new collar’ jobs</a>

Naukri.com parent InfoEdge acquires rival portal iimjobs for ₹808.1 million

New Delhi, Jan 24 () Sanjeev Bikhchandani-led Info Edge, which owns and operates India's largest online job portal Naukri.com, has created a Rs 750 crore war chest for its maiden venture capital fund to invest in tech start-ups.
 Noida-based Info Edge on Thursday informed stock exchanges that it has set up Info Edge Venture Fund (IEVF) to invest in "tech and tech-enabled entities that provide technology to create, market and distribute innovative products and services that benefit consumers at large."
 While the filing put the contribution in the new fund at Rs 100 crore, sources in the company said what is being mentioned is just the initial amount and the planned fund size is Rs 750 crore.
 Further contributions will be made into the Fund as investment opportunities are identified, they said, adding that the company management expects internal accruals from operations will be more than adequate for this purpose.
 Info Edge, by setting up its own investment vehicle, joins the likes of home-grown technology titans Infosys and Wipro. Most other large Indian corporates have primarily preferred to invest from their respective balance sheets.
 While Wipro through its strategic investment arm Wipro Ventures has closed its second investment fund - the USD 150 million Fund-II, Infosys - that launched its Innovation Fund in 2015, has invested in multiple startups.
 On Thursday, Info Edge announced an investment of Rs 100 crore into a Category II AIF Info Edge Venture Fund sponsored by its wholly-owned subsidiary Smartweb Internet Services Ltd. This had led to some speculation that Info Edge has set up a 100 crore VC fund for investment in tech start-ups.
 Sources said Rs 100 crore was only the initial capital and the corpus was as large as Rs 750 crore.
 In the last three years, Info Edge has invested around Rs 800 crore in external start-ups, either directly or through its wholly-owned subsidiaries, and the investing activity is likely to continue at the same rate.
 The Info Edge external investing programme is widely regarded as a success by both shareholders and the start-up community.
 It has been a prolific investor in India's startup ecosystem, having backed companies, which have since then, emerged as some of the country's most richly-valued ventures, such as food delivery and restaurant recommendation company Zomato, and online insurance aggregator PolicyBazaar, both of which are in the fabled unicorn club.
 Being the first investor in unicorns like Zomato and Policybazaar, it continues to be a meaningful shareholder in them. 
 Sources said as the investing activity has grown, the company felt the need to create an AIF through which investments would be made. This investment vehicle is a preferred route for a number of reasons, they said.
 First, it would be more entrepreneur-friendly from a compliance, regulatory and angel tax perspective. Second, it would bring increased rigour and discipline into the Company's investment strategy. Third, it would bring more focus on the exit strategy. Fourth it would provide a structure where the company can attract and retain the best talent for VC investing through alignment of interests.
 Sources also clarified that Info Edge Ventures will focus on making financial investments into start-ups. Strategic investments into start-ups in the jobs, real estate, matrimony, and education classified space will continue to be made directly through the parent Info Edge and its subsidiaries, as will acquisitions and any follow-up investments in existing portfolio companies.
 The team managing new Investments at Info Edge Ventures will continue to manage the existing financial investment portfolio as well. And the team managing strategic investments (non-financial investments) shall remain the same as earlier. ANZ ANZ MR
MR

Info Edge's tech start-up investment coffer much larger at Rs 750 cr

New Delhi, Nov 15 () Info Edge (India), which runs naukri.com, on Friday said it has invested Rs 5 crore in digital logistics platform Shipsy.
 The Gurugram-based startup will use the proceeds of the pre-series A round towards sales and marketing as well as for broadening product offerings of its EXIM platform, a statement said.
 This will also allow it to prepare itself for the series-A round by early next year for an organic geographical expansion beyond Indian market, it added.
 In a regulatory filing, Info Edge (India) said it has agreed to acquire 2,005, or 0.01 per cent, Series A1 compulsorily convertible preference shares having a face value of Rs 10 each.
 "The aggregate shareholding of the company, post this investment, in the said entity would be 10 per cent on a fully converted and diluted basis," the filing added.
 Info Edge (India) has invested in a number of companies including Zomato, Applect (meritnation.com), Etechaces Marketing and Consulting (Policybazaar), Kinobeo Software (mydala) and Happily Unmarried among others.
 Founded in June 2015, Shipsy was founded with the vision to digitise the logistics ecosystem. The enterprise initially provided solutions for both courier agencies and shippers. Later, it diversified and expanded its services to the broader logistics ecosystem.
 The company was co-founded by Soham Chokshi and Dhruv Agarwal, and were later joined by Himanshu Gupta and Sahil Arora. In 2018-19, Shipsy had a turnover of Rs 5.6 crore. SR SHW
SHW

Info Edge invests Rs 5 cr in Shipsy

<ul><li>The India’s oldest internet company plans to raise ₹1875 crore by selling shares to qualified institutional investors. </li><li>The stock has grown by 70% since the lockdown began in March.</li><li>Eventually, the 11% growth in annual consolidated revenue was much better than estimates. </li></ul>Info Edge stocks jumped over 5% in early trade on Tuesday (June 23) after a sharp fall in quarterly and a plan to raise more money through new shares issued to qualified institutional investors. The $5 billion company, which runs <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, Jeevansaath.com, 99acres.com and Shiksha.com, continues to be one of India’s largest internet companies. Investors had feared the company to perform a lot worse. So much so that a 60% fall in profit was better than expectation. <div type="image" title="info edge share latest." msid="76525158" hostid="261"></div> Better than what analysts expected <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">InfoEdge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial revenue estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1272.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Actual revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1416.3 crore </td></tr></tbody></table> One of the better bets Internet businesses are being seen <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">as some of the safer bets</a> amidst the global recession triggered by the COVID-19 pandemic. And InfoEdge is one of the big ones in that space. “We believe the crisis will expedite the offline to online transition of several small/large businesses that could help Info Edge deliver exceptional performance over the medium to long term due to its strong fundamentals and superior market positioning,” said the JM Financial report. Naukri’s India business, which makes for one-third of InfoEdge’s annual consolidated revenue, saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. But that was due to the lockdown. Just before that, Naukri was growing at 13% (year-on-year) until mid March, according to the company. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth (YoY) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit growth (YoY) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naukri.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99acres.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss shrinks to a third </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss has doubled </td></tr></tbody></table> And the promoters are cashing in. The company is set to raise ₹1875 crore through Qualified institutional placement i.e. selling new equity shares to big institutions. The internet company’s bid to raise funds through the unique method if successful will make it the <a href="https://www.livemint.com/news/india/info-edge-board-approves-raising-up-to-rs1-875-crore-through-qip-11592883581371.html">third company </a>(after Kotak Mahindra Bank and JM Financial) to raise capital through QIP since March this year. SEE ALSO: <a href="https://www.businessinsider.in/business/news/donald-trumps-h-1b-visa-ban-incites-a-sharp-reaction-from-indian-tech-company-like-wipro-tcs-infosys-tech-mahindra/articleshow/76524525.cms">Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020</a>

Here’s why Info Edge stocks rallied over 5% despite 60% fall in quarterly profit

<ul><li>Its shares were down by 1.5% on Thursday.</li><li>In a regulatory filing, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> shared that Naukri’s business was growing at a steady 13% until the lockdown happened. But ever since then, things have gone downhill. </li><li><keyword id="1336736" type="PERSON" weightage="20" keywordseo="99acres">99acres</keyword> saw a year-on-year decline in collection of ₹18 Cr in Q4FY20 and ₹9 crore in April. The lockdown created a shortfall of ₹25-30 crore said the company. </li></ul>Info Edge’s stocks took a hit after the company revealed how the coronavirus pandemic has hit its subsidiaries – <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, 99acres. Its shares were down by 1.5% and were trading at ₹2,532 on Thursday. <div type="image" title="info edge shares." msid="76195610" hostid="261"></div> With the coronavirus pandemic tightening pockets across industries, there’s a looming jobs crisis where thousands of people have already been laid off and millions of jobs continue to be at risk. With this Naukri.com, which is one of India’s top jobs listings portal, has seen a blow to its business. In a regulatory filing, Info Edge shared that Naukri’s business was growing at a steady 13% until the lockdown happened. But ever since then, things have gone downhill. Naukri’s India business saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. “For Q4’20, pre-covid19 the growth was 13%, the lockdown slowed down the growth to zero, leading to a shortfall of collection of ₹40-44 crore (had the business grown at pre-covid growth rate),” said the company’s filing. But Info Edge’s hit didn’t just come from its jobs section but also the real estate platform – 99acres. The real estate portal saw a year-on-year decline of collection by ₹18 Cr in Q4FY20 and ₹9 crore in April. The lockdown created a shortfall of ₹25-30 crore said the company. While Naukri.com has always been the blockbuster property for Info Edge, the company had also been betting on real estate growth. “Most of the properties listed today are residential real estate. Today, we don’t do too much of rental, we don’t do anything in commercial – but these are very large opportunities. Inside the categories we are in, the opportunities are huge. Real estate is 10% of the GDP of any country, that’s how big real estate is,” Info Edge CEO Hitesh Oberoi had told Business Insider in February. Info Edge’s revenue stood at ₹320.5 crore for Q3FY20, up by 14% from the same quarter in the previous year. However, its matrimony listings portal Jeevan Sathi’s collections saw marginal growth – by ₹4 crore in Q4FY20 and ₹1 crore in April. Revenue from its education business Shiksha.com grew slightly to ₹13.2 crore in the fourth quarter, up from ₹12.8 crore in the same quarter the previous year. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomato-swiggy-dunzo-can-start-testing-drone-deliveries-as-india-starts-doling-out-permits/articleshow/76188887.cms">Zomato, Swiggy, Dunzo can start testing drone deliveries as India starts doling out permits</a> <a href="https://www.businessinsider.in/business/startups/news/zoomcar-ceo-says-people-wont-book-uber-or-ola-and-wont-buy-cars-soon/articleshow/76188254.cms">Zoomcar CEO is betting on people not taking Uber and Ola⁠— and not buying cars in a hurry</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-now-has-to-pay-tax-on-profit-from-sale-of-flipkart-stake-to-walmart-in-2018/articleshow/76170662.cms">Tiger Global now has to pay tax on profit from sale of Flipkart stake to Walmart in 2018</a>

You Searched For "Info Edge India Ltd" and got 9 results

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

Kritti Bhalla

Zomato owner Info Edge's stock gains 3% after UberEats buy

PTI

Info Edge reports Q3 loss at Rs 62 crore

PTI

Info Edge shares shed early gains, settle nearly 2 pc lower

PTI

Naukri.com parent InfoEdge acquires rival portal iimjobs for ₹808.1 million

Sanchita Dash

Info Edge's tech start-up investment coffer much larger at Rs 750 cr

PTI

Info Edge invests Rs 5 cr in Shipsy

PTI

Here’s why Info Edge stocks rallied over 5% despite 60% fall in quarterly profit

Sanchita Dash

Info Edge share price falls after company reveals dismal performance of Naukri.com and 99acres due to Covid19

Sanchita Dash

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