Info Edge (India) Ltd Q2FY26 – When “Other Income” Becomes the Hero and Zomato Pays for the Buffet
1. At a Glance
If Karma had a domain name, it would probably end with .com, and if the Bhagavad Gita had a chapter on diversification, it would read like Info Edge’s portfolio. From Naukri to 99acres, Jeevansathi to Shiksha, and Zomato to Policybazaar, this company’s spiritual motto is: “Invest in everything the Indian middle class googles at 2 a.m.”
At ₹1,360 per share and a market cap of ₹88,166 crore, the company sits at a P/E of 67x, justifying it by saying “we’re not a stock, we’re an ecosystem.” Info Edge is almost debt-free (Debt: ₹276 crore; D/E: 0.01) and has more other income than some midcaps’ total revenue. Its Q2FY26 numbers showed Sales ₹805 crore (+14.9% YoY), PAT ₹348 crore (+1814% YoY), and an exceptional gain of ₹5,200 crore from its PB Fintech (Policybazaar) stake.
Return ratios? Let’s say they’ve gone on a spiritual journey. ROE 1.16%, ROCE 3.0% — the company calls it “patient capital”; we call it “Zen investing.”
2. Introduction – The Classified King Who Classified Everything
Info Edge is what happens when your college placement portal grows up and starts investing in unicorns. Born from Naukri.com’s 1997 revolution, the company has since become the grand old parent of India’s online classified empire — part philosopher, part venture capitalist, and part serial investor with mild insomnia.
Each of its verticals targets one of India’s eternal anxieties: jobs (Naukri), houses (99acres), marriage (Jeevansathi), and education (Shiksha). And when Indians aren’t looking for any of these, Info Edge quietly invests in what they’ll need next — food (Zomato) and insurance (Policybazaar).
But while the company’s investments keep giving it blockbuster gains, its core business runs on steadier, albeit slower, ground. The revenue engine still hums nicely at ₹3,068 crore (FY25), driven by the recruitment business that contributes nearly three-fourths of total revenue.
With an asset base of nearly ₹59,397 crore (mostly investments), it’s less of an “IT company” now and more of a financial powerhouse disguised as a job portal.
3. Business Model – WTF Do They Even Do?
Info Edge’s core business is running platforms that solve life’s top four crises: “I need a job,” “I need a house,” “I need a spouse,” and “I need a college.” If you think about it, they’re monetizing every parental WhatsApp worry in India.
Here’s the breakdown:
Naukri.com (Recruitment – 74% of revenue): Think of it as LinkedIn for India — but with 82 million resumes and HRs still searching “5 years exp. fresher preferred.” It has ~72,000 unique clients and 70,000 premium job seekers.
99acres.com (Real Estate – 14% of revenue): With over 1.77 lakh projects and 9.28 lakh listings, this is India’s property bazaar where 55% of users are brokers, 39% builders, and 6% hopeless homeowners.
Jeevansathi.com & Shiksha.com (Others – 16% of revenue): Jeevansathi caters mostly to North & West India, 90% on mobile, with a focus on community-based matchmaking. Shiksha.com helps 71,000 colleges list 4.15 lakh courses — making it India’s largest “what should I do with my life?” search engine.
And just when you think that’s enough, Info Edge also acts as a venture capital fund. Through its subsidiaries — Startup Investments Holding Ltd and Info Edge Venture Fund (IEVF) — it’s seeded India’s digital elite: Zomato, Policybazaar, Happily Unmarried (Ustraa), and Printo, among others.
In short, they sell hope, dreams, and discounted IPO gains.
