In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of Info Edge India spoke about the latest happenings in the company and gave his outlook for the future.
The Info Edge India stock has had a good run recently with a 44 percent gain in the last six months and up 25 percent in September alone. In an interview to CNBC-TV18, Hitesh Oberoi, CEO & MD of Info Edge spoke about the latest happenings in the company and what is making their stock tick.
In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of Info Edge India spoke about the latest happenings in the company.
Info Edge likes their teams and their products and wants to encourage the startups, Chintan Thakkar, Chief Financial Officer of Info Edge, told CNBC-TV18.
The flux in the real estate sector and increased competition from rivals has resulted in slowing growth for real estate portal 99acres.com, even as business continues to be vibrant for jobs portal Naukri.com, says Hitesh Oberoi, CEO and MD, Info Edge.
Chintan Thakkar, CFO, of Info Edge says the real estate market has off late been laden with factors like low demand and high competitiveness.
Chintan Thakkar, CFO of Info Edge says the company will continue to invest in the realty as rentals, particularly in some cities, is doing well despite the shrinking market.
Info Edge also owns portals like Naukri.com, Jeevansathi.com and shiksha.com.
Hitesh Oberoi, CEO and MD, Info Edge says the company keeps scouting the market for acquisitions all the time considering real estate â€“ the online space â€“ is such a hot sector. According to him, real estate will be a good sector for the medium term, even if it means clocking losses in the short term.
Info Edge is an on-line classifieds company in recruitment, matrimony, real estate and education. It owns portals like Naukri.com and 99acres.com.
Info Edge also owns job portal naukri.com and has seen a slight improvement in naukri‘s performance in the last few months.
"As business confidence levels across corporate India have weakened, hiring has definitely taken a hit across sectors. That means Naukari's revenues have decelerated," Raghuvanshi, CFO of Info Edge told CNBC-TV18 in an interview.
UBS has given a buy call on Info Edge, with a 12 month price target of Rs 475. Its stock price has de-rated due to a slowdown in hiring activity. The company gets around 80 percent of its revenue from the recruitment business, primarily from naukri.com.
The economy is going through a bad phase and companies are hardly recruiting. Naukri.com, a leading recruitment website belongs to the Info Edge group and Hitesh Oberoi, CEO & MD of Info Edge believes companies are cautious about hiring at this point.
In an interview to CNBC-TV18, Ambaresh Raghuvanshi, chief financial officer of Info Edge says, the hiring environment continues to be weaker. “The recruiting market is definitely a little weaker than it was same time last year. It's definitely weaker than a couple of quarters back,” he adds.
LinkedIn has not been impacting our revenues in any way, said Hitesh Oberoi, chief executive officer and managing director of Info Edge.
Hitesh Oberoi, CEO and MD of Info Edge, in an interview with CNBC-TV18’s Anuj Singhal and Latha Venkatesh, spoke about the recent happenings in his company and the road ahead.