Billings in the recruitment business grew by 11%, while the non-recruitment portfolio, 99acres (real estate), Jeevansathi (matchmaking), and Shiksha (education), combined, recorded growth of 14.1%.
With the new funds, the platform aims to expand product offerings and scale into Tier-2 and Tier-3 cities, targeting an annual debt run-rate of Rs 10,000 crore by FY27.
Executives from PB Fintech are slotted first in the schedule, and are expected to meet Department of Telecommunications officials to discuss the draft cybersecurity rules in the coming week.
The shares of the Sanjiv Bhikchandani-led company are currently over 57 percent higher than the 52-week-low record of Rs 4,871 apiece.
Naukri parent Info Edge reported a robust Q2FY25, with revenue in line and EBITDA margin surpassing expectations, while analysts forecast growth as IT hiring strengthens.
Revenue from operations reached Rs 700.82 crore, a 12 percent rise year-on-year (YoY) and up 3.5 percent sequentially from Rs 677 crore
Billing growth and management commentary point to improvements in IT hiring, implying bottoming out of the challenging environment.
The Info Edge founder says it is easier to list on Indian exchanges and the process is less complicated
Momentum in real estate hiring augurs well for this recruitment portal
The Info Edge founder said that apart from players chasing profitability in the listed space, private investors have also made it clear to portfolio companies that funding will only follow profitability
HDFC Securities is bullish on Infoedge has recommended buy rating on the stock with a target price of Rs 5275 in its research report dated August 11, 2023.