Info Edge hits speed bumps in recruitment and real estate

Info Edge recorded a 17% rise in fourth-quarter revenue to ₹805 crore, but the underlying metrics reveal a cooling environment. Recruitment billings growth softened to 10% for the full year, hampered by a sluggish hiring market. The real estate segment, 99acres, tells a more jarring story. Despite capturing a 52% share of web traffic in April, quarterly billings growth hit a wall at 2% following a recent reorganisation of the sales force. Management projects a recovery in the current quarter and holds a three-year target to double the real estate business at 25-30% EBITDA margins. New product lines provide a partial offset, with 1,000 clients already signed onto the AI-Rex hiring platform. Meanwhile, Jeevansathi is showing progress, narrowing its quarterly operating loss to ₹4 crore. The business is shifting its focus toward higher-margin, AI-driven models like Naukri 360, but for now, the topline is feeling the friction of a weaker hiring cycle and internal sales changes.