Info Edge is like that one rich uncle at weddings—running Naukri, 99acres, Jeevansathi, Shiksha, and still bragging about how he “invested in Zomato before it was cool.” With ₹87,430 Cr market cap and a P/E of 84.5, this stock isn’t just expensive, it’s Swiss-watch expensive. Meanwhile, ROE is a measly 1.16%, which means the uncle is earning less than your neighborhood chaiwala but still flexing a BMW.
2. Introduction
Info Edge is India’s OG internet conglomerate. Before Indian startups discovered “dot com” was cooler than “bhaiya.com,” Sanjeev Bikhchandani built Naukri.com. Today, Naukri alone contributes 74% of revenue, making it the HDFC Bank of online recruitment.
But this isn’t a one-trick pony. The company also owns 99acres (the land broker’s best friend), Jeevansathi (for those who swipe left on Tinder but want Maa’s approval), and Shiksha (because everyone needs advice before blowing ₹20 lakh on an MBA).
Oh, and let’s not forget Info Edge’s side hustle—being India’s PE investor in disguise. From Zomato to Policybazaar to Happily Unmarried, they’ve turned into the friendly neighborhood VC with a SEBI registration. The problem? Earnings are flattered by “other income” (₹1,275 Cr), which is finance-speak for “thank God for investments.”
So yes, Info Edge is part classifieds, part venture fund, part shaadi.com, and part startup incubator. A true desi buffet.
3. Business Model – WTF Do They Even Do?
Recruitment (Naukri.com – 74%): India’s job search monopoly. 82 million resumes, 72k unique clients, and 70k job seekers paying for premium services. Basically, the HR manager’s Tinder.
Real Estate (99acres – 14%): 9.28 lakh property listings, 1.77 lakh projects, and 55% of business coming from brokers. This is the OLX of overpriced flats in Noida.
Matrimony (Jeevansathi – ~8%): Strong in North India, focusing on specific communities. Over 90% access via mobile. Think Tinder, but with panditji’s blessings.
Education (Shiksha – ~2%): 71k colleges, 4.15 lakh courses. Basically, a place to make confused 12th pass kids even more confused.
Investments (Zomato, Policybazaar, Ustraa, etc.): This is where Info Edge flexes. 15% in Zomato, 19.5% in Policybazaar, and a bunch of smaller bets. Sometimes profitable, sometimes “future unicorn, bro.”
In short: classifieds + portfolio = cha-ching.
4. Financials Overview
Metric
Latest Qtr (Jun’25)
YoY Qtr (Jun’24)
Prev Qtr (Mar’25)
YoY %
QoQ %
Revenue
₹791 Cr
₹677 Cr
₹750 Cr
16.9%
5.5%
EBITDA
₹260 Cr
₹210 Cr
₹232 Cr
23.8%
12.1%
PAT
₹299 Cr
₹231 Cr
₹343 Cr
29.4%
-12.8%
EPS (₹)
4.57
3.74
7.15
22.1%
-36.1%
Commentary: Great YoY growth, but PAT dipped QoQ because “Other Income” didn’t feel like contributing. EPS swings harder than a Delhi auto meter. Annualised EPS = ₹15.8 → CMP P/E = 84.5x. Yes, you read that right.
5. Valuation – Fair Value Range Only
P/E Method
EPS: ₹15.8
Industry PE: ~28x
Fair Value = ₹442 – ₹560
EV/EBITDA Method
EV: ₹87,431 Cr
EBITDA: ₹2,047 Cr (annualised)
EV/EBITDA = 42.7x
Industry EV/EBITDA ~20x
Fair Value Range: ₹650 – ₹1,000
DCF (Simplified)
Assume 15% growth, 12% CoE, 4% terminal growth
Fair Value: ₹900 – ₹1,200
👉 Fair Value Range: ₹442 – ₹1,200 (Educational purpose only, SEBI please don’t send a notice.)
6. What’s Cooking – News, Triggers, Drama
CFO Exit Drama: Chintan Thakkar resigned, Ambarish Raghuvanshi stepping in as interim CFO. Markets hate “interim” anything.
Shaadi Wala Twist: Jeevansathi investing ₹30 Cr in Aisle Network (the “modern matrimony” app). Basically, trying to be cool for Gen Z rishtas.
