Although Naukri grew 20% annually, growth was subdued because of service tax changes led to higher advance collections in Q4. Q4 and Q1 together saw 23% growth in yoy revenue. For Naukri, IT vertical continued to do well and related regions like Bangalore grew by
30% annually. Management expects margins at Naukri to improve further if it grows at an annual rate of higher than 20%
99 acres slowdown was a function of sluggish real estate market. Info Edge will continue to invest in data quality and advertising to defend market share. Management has increased investments in Jeevan Saathi as the product is seeing more traction
Considering the balance sheet and expected investments in 99 acres, Info Edge has asked investee companies to look for external investors. In case Zomato does a sizable fund raise, then most likely it will see Info Edge?s shareholding declining below 50%.
