As outlined by many IT companies in their recent earnings, Info Edge said that most IT companies are back to replacement hiring, with campus placement picking up gradually.
Entrepreneurs today have to be careful because if they are not leveraging it to their benefit they could get disrupted very easily, Oberoi said.
Oberoi said that several captives are clients of the company and if there’s growth in hiring in captives, Naukri will benefit
Info Edge expects IT hiring to remain slow for at least 4-5 months, and hopes that it will recover in the second half of the fiscal.
Info Edge believes that the proptech startup might find it difficult to weather the ongoing funding winter due to its cash burn.
Hitesh Oberoi the CEO and Managing Director of InfoEdge said that hiring in the IT sector is beginning to stabilize and said that after seven quarters of unprecedented growth,he expects growth in IT hiring to moderate going forward.
In an interview with CNBC TV-18, Oberoi spoke about the hiring picture in tech companies, their growth, and the prospects of e-learning platform Coding Ninjas.
Managing Director & CEO of Info Edge speaks on the company's outlook, the impact of slowing hiring momentum and growth in the non-IT sector.
Hitesh Oberoi, the CEO and MD of Info Edge, which runs portals such as Naukri, Jeevansathi and 99 acres, apart from being an investor in unicorns such as Zomato and Policybazaar spoke to Moneyocntrol's Chandra R Srikanth on the harrowing few weeks as the second wave of Coronavirus hit India like a Tsunami. From running around for beds and oxygen for affected employees, Oberoi says things are now beginning to stabilise and will get better in a couple of weeks. He also said IPOs of companies such as Zomato, which filed its DRHP recently are on track and that the demand for digital skills continues.
Info Edge CEO Hitesh Oberoi's advice to young entrepreneurs on starting up businesses and his take on leadership styles.
Info Edge India reported its third quarter results for the quarter ending December 2016. The company reported net profit growth of 76.1 percent at Rs 47.1 crore vis-Ã -vis Rs 26.7 crore the same quarter last fiscal.
In an exclusive interaction with Moneycontrol, Hitesh Oberoi, CEO of InfoEdge and Naukri - India's largest job portal said that the hiring scenario in 2017 will largely depend on what happens in the Union Budget. He said that the industry now needs a budget which can create jobs, lower interest rates and reduce taxes.
Demonetisation is expected to impact the financial performance of India‘s internet firms. Leading internet firm Info Edge has also been impacted by the move.
Hitesh Oberoi, CEO & MD of Info Edge believes that it will still take time for online companies to start making profits.
Hitesh Oberoi, CEO & MD, Info Edge is convinced that 99acres‘ long term story is good. He believes that Info Edge can grow all its businesses at 20 percent plus and the company as a whole could grow at 25 percent.
Oberoi said the real estate market remained sluggish, and the break even at operating level for 99acres.com was a long way off.
According to Naukri.com's Hiring Outlook Survey 2015, 69 percent of recruiters and consultants who participated in the survey projected creation of new jobs in the first half of 2015.
Projects under the 'Puravankara' and 'Provident' brands of the company will be available on the portal and 99acres will offer 3D floor plans and online booking to potential buyers, a release said.
The company reported a quarter-on-quarter net profit at of 33.2 crore versus Rs 39.8 crore in the previous quarter.
Hitesh Oberoi, CEO and MD, Info Edge says the company keeps scouting the market for acquisitions all the time considering real estate – the online space – 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.
Recruitment activity had increased by 13 percent in January 2014 over the previous month. The Naukri Job Speak Index for the month of February 2014, saw a rise on month-on-month basis as well as year-on-year basis.
Info Edge also owns job portal naukri.com and has seen a slight improvement in naukri‘s performance in the last few months.
Speaking to CNBC-TV18 on its Q2 results, Hitesh Oberoi, chief executive officer and managing director, Info Edge says the company is likely to do well if the country continues to grow positively. “If the economy starts improving, if the market for jobs in real estate starts looking up, then our growth rate should improve from here on,†he adds.
Hiring activities improved in April on the back of better prospects primarily in telecom, banking and financial services sectors, says a report.
Hitesh Oberoi, CEO & MD, Info Edge explains on CNBC-TV18, post announcement of results, that the company is adequately cushion by cash reserves of close to Rs 500 crore and hence there arose no need to raise funds. Oberoi adds that the company‘s realty arm 99acres.com and education portal Shiksha.com have performed well