Info Edge said on 28 October that Hitesh Oberoi will step down as managing director and chief executive on 2 December 2026, closing a full-time run of nearly 27 years at the Naukri.com parent. Founder Sanjeev Bikhchandani will take charge as executive vice chairman, managing director and group CEO from 3 December, the company told the exchanges.
Both appointments need shareholder approval. Bikhchandani’s new term runs to 26 April 2031, co-terminus with his existing directorship, while Oberoi moves to the board as a non-executive, non-independent director. The board cleared the changes at a meeting on 28 October that ran from 10:30 am to 1:45 pm.
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Why The Handover Matters
Oberoi, who spent more than 16 of those 27 years as MD and CEO, said he wants time for higher education, entrepreneurship, investing and philanthropy, and for his family. He pointed to Naukri’s artificial intelligence and data strategy, 99acres’ market position, profitability at Jeevansathi and Aisle, and Jobhai’s monetisation as signs the business is ready for the change.
Info Edge, founded in 1995 and listed in 2006 under the Naukri ticker, said market capitalisation grew from about Rs 2,500 crore to roughly Rs 80,000 crore during his tenure as chief executive. Chairperson Kapil Kapoor credited Oberoi with execution through competitive and macroeconomic cycles, and said the founder brings a long-term view of value creation.
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The September Quarter In Numbers
The handover landed alongside September quarter numbers. Net profit fell 92.9 per cent year on year to Rs 333.8 crore from Rs 4,720 crore, a base that carried an exceptional gain of Rs 5,200 crore. Revenue rose 12.9 per cent to Rs 842 crore, while EBITDA climbed 27.4 per cent to Rs 377 crore and margin expanded to 44.8 per cent from 39.66 per cent.
A separate report on the consolidated figures put net profit at Rs 650 crore, up 87 per cent, helped by other income of Rs 428 crore against Rs 162 crore a year earlier. The board declared an interim dividend of Rs 3 per share on a face value of Rs 2, with a record date of 6 November 2026.
What Naukri, 99acres And Jeevansathi Delivered
Recruitment, the group’s largest engine, grew standalone billings 12.6 per cent in the quarter and 14.9 per cent in the first half, with the company citing the timing of customer renewals for the quarterly pace. Recruitment revenue rose 13.3 per cent at an operating margin of 59.1 per cent, or 62 per cent excluding Job Hai.
Artificial intelligence and data products now contribute a high single-digit share of recruitment revenue, an annualised run rate of about Rs 240 crore on the September quarter. Candidate services, sold directly to job seekers, lifted billings 37 per cent, with paid conversion at 2.7 per cent.
99acres raised billings 21.2 per cent, faster than the 16.5 per cent of the June quarter, and generated Rs 22.1 crore of cash from operations against Rs 2.3 crore. Jeevansathi grew 18.4 per cent and Aisle 40 per cent, for a combined 23.1 per cent. NaukriGulf added 9 per cent.
Portfolio Churn And The Redstart Cheque
The same board meeting approved exits from two written-off bets: the entire 14.18 per cent holding in Medcords Healthcare Solutions and 31.64 per cent in Unnati Online, both held through Startup Investments (Holding). Info Edge had impaired Medcords in FY24 and Unnati in FY20. It also cleared about Rs 150 crore of fresh capital for Redstart Labs (India), a wholly owned subsidiary.
Risks And What To Watch
Demand is uneven. In the first half, global capability centres grew 19 per cent and other sectors 16 per cent, but technology, IT and business process management managed 9 per cent and recruitment consultants 5 per cent. The stock remains down nearly 7 per cent in 2026, despite a 4 per cent intraday rise to Rs 1,265 on 28 October against a previous close of Rs 1,216.30.
The open question is governance rather than operations. A founder returning as executive vice chairman, managing director and group CEO concentrates board and management authority in one person, at a company whose value now leans heavily on minority stakes in other internet businesses.
The Editorial Read
Info Edge has spent three decades proving that classifieds businesses compound when they are run for cash. Oberoi’s exit removes the operator who built Naukri into that machine and hands the next phase to the man who wrote the original thesis. The baton is safe, but the test shifts from running portals to allocating capital across them.
