Info Edge (India) Ltd. share price target

Recruitment billings grew 17.5% YoY, driven by enterprise renewals, premium hiring demand and AI-led offerings. Management highlighted that recruitment’s AI offerings (AI REX and Talent Pulse) are gaining traction; it is also helping expand TAM.

Info Edge (INFOE)’s standalone revenue stood at INR8.2b in 1QFY27, up 12% YoY/2.4% QoQ, in line with our estimate of ~INR8.1b.

The company's performance in Q4FY26 was encouraging as it reported steady topline growth, stronger profitability and robust cash generation despite a cautious demand environment. The management highlighted sustained leadership in the recruitment segment, improved market share for 99acres and Jeevansathi and disciplined execution across businesses. Info Edge appears well-placed to benefit from ongoing investment in AI, which is bringing about improvement in matching, recommendations, recruiter productivity and product innovation across verticals....

About the stock: Info Edge (India) Ltd. (Info Edge), is a leading online classifieds Non-recruitment verticals (99acres, Jeevansathi & Shiksha): 99acres reported 35.8% YoY/1.9% YoY revenue/billing growth & has emerged as the clear traffic leader across major cities with overall web traffic share improving to 49% in Q4 & 52% in April. Q4FY26 marked an important milestone with the business turning operating profit positive, partly aided by one time reversal as well as better monetization and operating leverage. Management remains confident of doubling revenues over the next three years and achieving 25-30% EBITDA...

AI-led innovation and product depth to drive long-term monetisation: The company's aggressive AI adoption spanning resume matching, recruiter productivity tools, and search relevance creates a structural moat by improving hiring efficiency at scale. As AI tools mature and deliver measurable ROI to clients, they can enable premium pricing, new subscription tiers, and higher...

Q3FY26 revenues were broadly in-line, as recruitment billings grew 11% despite global macro uncertainties. Growth was driven by premium roles in tech/IT segments, GCC momentum and B2C segment, partially offsetting softness in mid-market white-collar hiring.

Info Edge (INFOE)’s standalone revenue stood at INR7.6b in 3QFY26, up 13.9% YoY/2.5% QoQ, in line with our estimate of ~INR7.7b. EBITDA margin came in at 42.5% (up 290bp QoQ/down 60bp YoY), above our estimate of 38.8%. Total billings rose 11.8% YoY to INR7.4b.

About the stock: Info Edge (India) Ltd. (Info Edge), is a leading online classifieds company with a strong position in recruitment (naukri.com), real estate (99acres.com), matrimony (jeevansathi.com), and education (shiksha.com). Among its early investments in start-ups, Eternal (previously Zomato) with 12.43% stake...

Info Edge’s (INFOE) standalone revenue stood at INR7.4b in 2QFY26, up 13.7% YoY/1.3% QoQ, in line with our estimate of ~INR7.4b.

Focused investment strategy and robust financial position: Info Edge has adopted a focused investment strategy centered on India's fast-growing startup ecosystem via direct financial investments through balance sheet /wholly-owned subsidiaries & through Alternate Investment Funds (AIFs) managed by its venture capital arm - Info Edge Ventures. As of March 31, 2025, the company's financial portfolio comprises over 110 investments. Going ahead, it plans an investment of upto 1000 crore in a new AIF scheme (IE Venture Investment Fund III - a scheme of Karkardooma Trust) to back India's...

Info Edge (INFOE)’s standalone revenue stood at INR7.4b, up 15.3% YoY/ 7.2% QoQ, in line with our estimate of ~INR7.4b. EBITDA margin came in at 37.7% flat QoQ/down130bp YoY), below our estimate of 40.7%.

Standalone revenues stood at Rs. 687 crore, up 2.3% q-o-q/13% y-o-y in line with our estimates of Rs 692 crore. Recruitment business continued to grow, whereas non-recruitment businesses also continued to grow with cash profitability.

Info Edge’s recruitment business revenue grew 12.1% YoY as billings grew 15.2% YoY, mostly led by increasing number of unique customers (up ~10%YoY) in Q3FY25.

Info Edge’s Q3FY25 standalone revenue stood at Rs. 672 crore, up 2.4% q-o-q/12.8% y-o-y, slightly missing our estimate of Rs. 682 crore. Total billings stood at Rs. 668 crore, up 15.8% y-o-y. Billing growth for the recruitment business grew 15.2% y-o-y.

Info Edge (INFOE) delivered in-line revenue growth in 3QFY25, with standalone revenue rising 12.8% YoY/2.4% QoQ. EBITDA margin came in at 43.1% (up 130bp QoQ/270bp YoY), beating our estimate of 40.6%.