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Revenue
₹819 Cr
verified against source
Revenue YoY
14%
reported change
EBITDA
₹297 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Info Edge reported Q3 FY26 standalone revenue of ₹765 crore (+14% YoY) and operating profit of ₹297 crore (+13% YoY), with operating margins at 39%. Recruitment billings grew 11% YoY to ₹548 crore, driven by 14% growth in IT/BPM and GCC segments, while non-IT sectors like BFSI and retail remained soft. The real estate segment saw billings growth of 14% to ₹117 crore, with traffic share reaching 46% (up from 44% in Q2). Matchmaking (Jeevan Saathi) grew 29% to ₹36 crore, nearing breakeven. Management highlighted a cautious hiring environment, with mid-segment volume growth moderating to ~4%, while premium and value segments showed stronger demand. AI initiatives like AI Rex are gaining traction with 100+ clients and 20,000 mandates. Guidance: recruitment billings growth in low teens, with margin expansion dependent on sustaining that growth. Key risk: prolonged weakness in non-IT hiring could pressure overall growth.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects standalone recruitment billings growth to remain in low teens for FY26, similar to YTD growth of ~10%.
- After achieving market leadership in Delhi NCR, Job Hai will expand to Mumbai, Bangalore, and other cities over the next 12 months.
- Management targets Job Hai to contribute 10-15% of Naukri India's revenue over a 5-6 year horizon.
- Board approved revision of dividend payout ratio to up to 65% of PAT, up from 39% last year.
Risks flagged
- Non-IT sectors like BFSI, retail, and infrastructure have seen softness, with YTD growth of only ~7%. If this persists, overall recruitment growth could remain subdued.
- Management acknowledged that horizontal AI platforms could generate auto-generated resumes and spam, potentially reducing the value of job listings but increasing the relevance of curated databases like Naukri.
- Shiksha domestic business has seen a sharp drop in traffic due to AI impact, which will affect billing growth over time. Management is pivoting to counseling services but outcome uncertain.
- Analyst noted that Zomato and DoSelect billing growth is slower than core recruitment. Management attributed it to ongoing experimentation with go-to-market strategies, which may take a couple of quarters to stabilize.
Key quotes
- If horizontal AI platforms were to expand into the hiring space, it could result in higher noise levels including auto-generated resumes, spam applications and low signal candidates potentially increasing the relevance of specialized curated platforms like Naukri.
- Our short-term goal will be to get more and more clients to use it first so we'll focus on adoption and usage and we think if we are able to enable more hiring through AI Rex and help recruiters become more productive, revenue will follow.
- If we can grow in the teens, we'll be able to maintain and improve our margins. If we grow in single digits, then we might lose some margin.
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