## **Table of Contents** 1. [Info Edge Q4 FY26 Business Update: Market Cap and Performance Overview](#anchor1) 2. [Subsidiary Performance Analysis: Naukri, 99acres, Jeevansathi and Shiksha](#anchor2) 3. [Quarterly Comparison: Q4 FY26 vs Q3 FY26 Performance](#anchor3) 4. [Q4 FY26 and Q4 FY25 Billings Change](#anchor4) 5. [Financial Metrics and Operational Highlights](#anchor5) --- <h2 id="anchor1">Info Edge Q4 FY26 Business Update: Market Cap and Performance Overview</h2> [Info Edge India Limited](isin#INE663F01032) reported its Q4 FY26 business update on April 8, 2026, revealing standalone billings of ₹1,057.1 crores for the quarter, representing a 7.4% year-on-year growth. The market cap of close to Rs 66000 crore reflects the company's position as India's leading online recruitment platform operator, encompassing multiple digital businesses including Naukri.com, 99acres, Jeevansathi, and Shiksha. The order value dynamics for Info Edge center around its billing-based revenue model, where the company generates revenue through subscription fees from recruiters, real estate agents, matrimonial service seekers, and educational institutions. The Q4 FY26 billings growth of 7.4% indicates a moderated pace compared to previous quarters, attributed to transitional impacts from organizational restructuring and policy refinements implemented during the quarter. ### **Current Stock Performance Metrics*** | **Metric** | **Value** | **Change** | |------------|-----------|------------| | Current Price (NSE) | ₹989.70 | -4.16% | | Market Cap | ₹66,962.40 crores | - | | 52-Week High/Low | ₹1,550.00/₹930.50 | -36.15%/-6.36% | | P/E Ratio | 39.74 | - | *As on 09th April, 2026 <h2 id="anchor2">Subsidiary Performance Analysis: Naukri, 99acres, Jeevansathi and Shiksha</h2> The Q4 FY26 performance across Info Edge's key subsidiaries presented a mixed picture, with the recruitment solutions segment maintaining steady growth while other verticals showed varied trajectories. Naukri.com, the flagship recruitment platform, delivered billings growth of 9.5% year-on-year in Q4 FY26, contributing to the overall recruitment solutions segment performance. The platform's resume database expanded to approximately 113 million resumes with daily additions averaging 20,000 during the quarter. **99acres** strengthened its market position in web and app traffic time-share during Q4 FY26, building on the momentum established in previous quarters. The real estate platform's focus on supply expansion and user engagement improvements translated into sustained traffic leadership, with Q4 billings at ₹162.8 crore. The platform's secondary real estate business performed well while the primary segment remained relatively slower. **Jeevansathi** maintained its robust growth trajectory with Q4 FY26 billings of ₹38.6 crores, representing a 20.9% year-on-year increase. For the full financial year FY26, Jeevansathi's billings rose 28.5% to ₹142.4 crores, demonstrating consistent momentum in the matrimonial services segment. The platform's leadership position in Hindi-speaking markets with 45% profile share continued to drive user acquisition and monetization. **Shiksha** faced headwinds in Q4 FY26 with billings declining 13% year-on-year to ₹45.1 crores. The education platform experienced pressure from AI-driven search trends that increasingly address user queries directly, reducing search referrals to the platform. For FY26, Shiksha's billings marginally increased 0.8% to ₹163.7 crores, reflecting the challenging operating environment. <h2 id="anchor3">Quarterly Comparison: Q4 FY26 vs Q3 FY26 Performance</h2> Comparing Q4 FY26 with Q3 FY26 performance reveals the impact of organizational changes and market dynamics on Info Edge's business segments. In Q3 FY26, the company reported standalone billings of ₹747 crores with 12% year-on-year growth, compared to Q4 FY26's ₹1,057.1 crores with 7.4% growth. The sequential quarter comparison shows higher absolute billings in Q4 but a decelerated growth rate. The recruitment solutions segment's Q3 FY26 performance included Naukri jobseeker services billing of ₹39 crores with 17% year-on-year growth and operating margins of 59%. NaukriGulf contributed ₹34 crores in billings with 19% growth and 33% operating margins. The Q4 FY26 recruitment segment growth of 9.5% suggests some moderation from Q3 levels, primarily due to the transitional impact of structural changes implemented during the quarter. **Jeevansathi's** Q3 FY26 billings of ₹36 crore with 29% year-on-year growth compared favorably with Q4 FY26's ₹38.6 crores and 20.9% growth, indicating sustained momentum albeit at a slightly moderated pace. The matrimonial platform's consistent performance across quarters demonstrates its market leadership and user engagement strength. **99acres** reported Q3 FY26 billings of ₹117 crores with 14% year-on-year growth, with ₹162.8 crore as the Q4 FY26 billing figure. The platform's traffic share improvement from 44% in Q2 FY26 to 46% in Q3 FY26 suggests continued market share gains. **Shiksha's** Q3 FY26 billings of ₹46 crores with 4% growth contrasted with Q4 FY26's decline of 13%, highlighting the accelerating impact of AI-driven search disruption. <h2 id="anchor4">Q4 FY26 and Q4 FY25 Billings Change</h2> | **Particulars** | **% Change** | |------------|-----------| | Recruitment Solutions | 9.5% | | 99acres | 1.9% | | Jeevansathi | 20.9% | | Shiksha | -13.0% | Recruitment Solutions (Naukri) fared well this quarter due to sustained hiring in non-IT sectors, strong demand for high-value roles, and the expansion of the Artificial Intelligence/Machine Learning (AI/ML) talent market. However, 99acres had a muted change compared to Q4 FY25 because of a substantial drop in activity in the real estate listing space, indicating a sluggish market for new projects. Jeevansathi maintained its 20%+ YoY growth trajectory in Q4 demonstrating continued growth in the matchmaking segment. Shiksha has seen pressure on traffic and revenues as AI-driven search increasingly addresses user queries directly, reducing search referrals to the platform. **Management's FY27 Outlook Priorities:** - Building on traffic leadership across key platforms - Leveraging organizational restructuring for improved operational efficiency - Expanding monetization opportunities in recruitment and matrimonial segments - Addressing AI-driven disruption in the education vertical through business model pivoting <h2 id="anchor5">Financial Metrics and Operational Highlights</h2> Info Edge's financial performance mentioned in the company's business update for FY26 demonstrated resilience with standalone billings reaching ₹3,177.5 crores, representing 10.3% year-on-year growth. The company's recruitment solutions segment, contributing the majority of revenues, achieved 10.0% growth for the full year. The diversified business model across recruitment, real estate, matrimonial, and education verticals provides revenue stability despite varying segment performances. The company's balance sheet strength remains robust with minimal debt-to-equity ratio of 0.01 and total debt of ₹267.35 crores. Cash generation from operations before taxes reached ₹376 crores in Q3 FY26, with the recruitment business alone generating ₹373 crores. The strong cash flow profile supports continued investment in product development, market expansion, and strategic initiatives. Q3 FY26's operational metrics highlight the company's market leadership across segments. Naukri.com's resume database of 113 million profiles with 20,000 daily additions demonstrates user engagement strength. 99acres' traffic share improvement to 46% and live listing growth of 41% for resale-rental and 27% for new projects indicate supply-side momentum. Jeevansathi's 90%+ user traffic and time spent on mobile apps reflect strong user engagement in the matrimonial segment. The stock's 52-week performance shows volatility with a high of ₹1,550 and current trading levels representing a significant discount, potentially offering value for long-term investors focused on India's digital services growth story.