Info Edge India’s first quarter of fiscal 2027 saw a surge in recruitment demand and a major turnaround at 99acres, driven by artificial intelligence-driven monetisation and product innovation, signalling a strategic shift towards smarter, more customised platforms.
Info Edge India said its first-quarter performance for fiscal 2027 was driven by firmer demand in recruitment and a sharp improvement at 99acres, as the company leaned more heavily on artificial intelligence to lift monetisation across its core platforms. According to the company’s earnings call, standalone billings rose more than 14% in the June quarter, with the main hiring business and the property platform doing most of the work. Investors pushed the shares higher after the update, with standalone billings reported at about ₹737 crore for the quarter ended June 30.
In the recruitment division, growth improved to an estimated 15% on an underlying basis, helped by stronger enterprise renewals and better performance across technology, IT, BPM and global capability centres. Hitesh Oberoi, chief executive and managing director, said the business is seeing a meaningful lift from newer AI-led products, including AI REX and TalentPulse. AI REX is live across more than 4,000 enterprise customers and has already converted more than 10% into paying users, while TalentPulse has passed 600 paid customers. Oberoi said these products are contributing to higher average revenue per user, although he cautioned that the company still needs to prove renewal strength over time.
The job seeker business, Naukri 360, also outpaced the group, with billings rising more than 35% and operating PBT margins improving to about 63%. Oberoi said the business has shifted further towards self-serve models and AI-powered features, lifting paid subscriber conversion from 1.3% to 2.6% of monthly active users over six quarters. On the other hand, the consultants segment remained weak, and the JobSpeak index continued to point to sluggish hiring volumes, suggesting that growth is being driven more by premiumisation, pricing and new products than by a broad recovery in labour demand.
99acres was the clearest turnaround story in the quarter. Billings rose about 17%, losses narrowed sharply and the business came close to breakeven, with management saying operating losses fell 89% from a year earlier. Oberoi said competitive pressure has eased after Housing.com’s acquisition and that the platform still has room to grow through better monetisation of owner listings and stronger builder revenue in the primary housing market. Shiksha remained a drag, with billings down 23% and revenue off 12% as changes in search behaviour tied to AI disrupted traffic and client delivery outcomes. Naukri Gulf slowed to 12% growth amid Middle East disruption, though management said the long-term opportunity remains intact.
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