Info Edge CEO Hitesh Oberoi to step down after 27 years

Info Edge (India) Ltd, the parent company of recruitment platform Naukri and real estate portal 99acres, announced that Hitesh Oberoi will step down as managing director and chief executive on 2 December 2026, after nearly 27 years with the company.

The company’s board has approved the appointment and redesignation of founder Sanjeev Bikhchandani as executive vice chairman, managing director and group CEO, effective 3 December 2026, subject to shareholder approval.

Bikhchandani said there had been no discussion with the board about appointing an external CEO or whether he would be interim. Oberoi will remain with the company in a non-executive capacity after stepping down from his current position.

“We'll figure out how to evolve the leadership structure at the top going forward. So there's no decision yet on hiring more people. As far as I'm concerned, I'll be taking over. I'll be listening a lot. I'll take Hitesh's guidance. And the good bit is that the leadership below him, who work around him, is very, very good,” Bikhchandani said during the company’s Q2 FY27 analyst call.

However, he acknowledged that he could not continue indefinitely, given his age. “But let the situation stabilize, and then we will see what happens,” he added.

Oberoi will be appointed as an additional director, designated as a non-executive, non-independent director under the promoter category, effective 3 December, subject to shareholder approval, the company said in a statement.

This comes at a time when Info Edge's whole-time director and chief business officer (Naukri) Pawan Goyal has also resigned after seven years with the company to pursue other interests, according to an exchange filing.

Speaking about his reason for leaving, Oberoi said on the analyst call that he had decided to step down after careful consideration to devote more time to his personal interests in education, entrepreneurship, institution-building, investing, and philanthropy, as well as to spend more time with his family.

“For the longest time, I have believed that we have a great team across all our businesses. We have people who have been around for several years. They have grown with the business and matured as leaders. We have a crack team at Naukri and solid leadership at Job Hai, 99acres and Jeevansathi. That is what gave me the confidence to move on,” he added.

Info Edge reported a 12.8% year-on-year increase in standalone revenue from operations to ₹841.7 crore in the second quarter of FY27, from ₹746 crore a year ago, driven by growth in its recruitment, real estate and matchmaking businesses.

However, the company’s net profit fell 92.9% on-year to ₹333.8 crore, compared with ₹4,720 crore in the year-ago quarter. The sharp decline was largely due to an exceptional gain of ₹5,200 crore recorded in the year-ago quarter.

Recruitment remained the company’s largest business, with revenue rising 13.3% on-year to ₹632.3 crore. AI and data products for recruiters and job seekers contributed a high single-digit share of the recruitment business’s top line, with an annualized revenue run rate of around ₹240 crore based on Q2 performance.

The real estate business, 99acres, reported revenue of ₹134.3 crore, up 16.7% from ₹115.1 crore a year ago. The matchmaking business, comprising Jeevansathi and Aisle, recorded revenue of ₹39.5 crore, up 16.5% from ₹33.9 crore in the year-ago quarter.

In contrast, the education business, Shiksha, reported revenue of ₹35.5 crore, down 8.5% from ₹38.8 crore a year ago. The company attributed the pressure to declining referral traffic from Google, which has affected client delivery.

Nabodita is a New Delhi-based journalist who covers India’s startup ecosystem and venture-capital landscape. She enjoys reporting on emerging companies, funding trends, founders, and the policies shaping the innovation economy. Before this, she worked with Outlook Business and The Hindu Businessline. When she’s not chasing stories, you’ll find her with a cup of coffee, watching a good comedy, or getting lost in a book. She believes there’s always a good story waiting to be discovered, sometimes in a boardroom and sometimes over a great cup of coffee.

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