Info Edge names Bikhchandani Group CEO after Oberoi exit

Info Edge will move to a new executive leadership arrangement on December 3, when Sanjeev Bikhchandani becomes Executive Vice Chairman, Managing Director and Group CEO after Hitesh Oberoi steps down on December 2. The company has made no decision on a longer-term top-management structure or additional hiring, Bikhchandani said.

What changes at Info Edge on December 2 and December 3?

Hitesh Oberoi will cease to be Managing Director and Chief Executive Officer at the close of business on December 2, and Sanjeev Bikhchandani will assume the roles of Executive Vice Chairman, Managing Director and Group CEO from December 3. Oberoi said he had considered the decision over time and was leaving the executive role after nearly 27 years at Info Edge.

Subject to shareholder approval, Oberoi will remain on Info Edge's board as a Non-Executive Director after December 2. That proposed board position separates him from the executive duties transferred to Bikhchandani, while leaving him available to provide counsel during the handover. The announcement came during the company's second-quarter, or Q2, discussion of its operating businesses.

Is Sanjeev Bikhchandani an interim CEO at Info Edge?

Info Edge has not described Bikhchandani as an interim CEO, nor has it identified a separate permanent successor or decided to hire additional senior leaders. Bikhchandani said he would take over, listen, observe and learn, with Oberoi still in office for roughly one month before the December 2 transition.

Bikhchandani said he would consult the Nomination and Remuneration Committee, or NRC, to determine how the leadership structure should evolve. He also said the company would first give internal people an opportunity to grow before assessing further options. In response to a question on a possible chief business officer structure in Recruitment, management did not commit to any organisational model.

Oberoi said the company had leadership teams in Naukri, Job Hai, 99acres and Jeevansathi that had developed over several years. Bikhchandani said he held three meetings in the two hours before the call and found operating leaders on top of their responsibilities, though these comments were management's assessment rather than a disclosed succession plan.

What operating momentum will Info Edge's new leadership inherit?

Info Edge's Recruitment business reported Q2 billings growth of 13%, after 17.5% in the first quarter, or Q1. Oberoi said renewal and deal timing distorted both figures, describing the Q1 result as closer to 14% to 15% after sales were pulled forward and saying management was setting a 14% to 15% underlying growth target for sales teams.

The first half, or H1, data showed differences between recruitment customer segments. Billings grew 9% in IT, Technology and Business Process Management, 19% in global capability centres, 16% in other sectors and 5% among recruitment consultants. In Q2 alone, the respective growth rates were 3%, 7%, 18% and 7%, showing faster H1 growth in IT and global capability centres than the single-quarter figures due to renewal timing.

Artificial intelligence, or AI, products are central to the current operating plan. AI-first products and services generated about Rs 60 crore of Q2 revenue, which management annualised to a run rate of about Rs 240 crore. The products include AI-Rex and Talent Pulse for recruiter clients, alongside jobseeker services such as mock interviews, the Neo agent and AI resume-making tools.

Info Edge said AI-Rex had only about 2,000 trial accounts among at least 40,000 larger Naukri customers that renew annually. Management's stated approach is to increase adoption over roughly 24 months before seeking larger renewals and upgrades. It said clients buying AI offerings paid, on average, 10% to 15% more than those that did not buy them in the preceding quarter.

How are Info Edge's consumer and marketplace businesses performing?

Naukri 360 billings increased 37% in Q2, while paid subscribers reached 2.7% of monthly active users, up from 1.3% in January 2025. The jobseeker business operated at a 64% operating profit before tax, or PBT, margin. Management attributed part of the conversion progress to AI-led services and said these self-serve products are margin accretive.

99acres reported accelerating billings growth, rising 21% year on year in Q2 from 17% in Q1, while revenue increased 17%. Its operating loss narrowed 93%, from Rs 23 crore in Q2 of fiscal year 2026 to less than Rs 2 crore in Q2 of fiscal year 2027. Cash generated from operations rose to Rs 22 crore from Rs 2 crore a year earlier.

The 99acres platform also reported property enquiries up 33% year on year while marketing investment fell about 13%. Management said it aims to gain further traffic and revenue share in H2 and generate positive operating cash in FY27. It identified new projects as a strategic priority, estimating the relevant digital and non-digital spending opportunity at about Rs 6,000 crore.

Matchmaking billings grew 23% in Q2, with Jeevansathi up 18% and Aisle up 40%. The segment was near operating PBT breakeven: Jeevansathi recorded a Rs 2 crore operating profit, while Aisle recorded a Rs 3 crore operating loss. Operating cash generation was Rs 3 crore, compared with a Rs 2 crore cash loss in Q2 of the prior year.

Which business issue will require the most attention?

Shiksha is the clearest disclosed operating challenge, with Q2 billings down 27% and revenue down 9%. The business was near operating PBT breakeven but recorded cash losses from operations of Rs 16 crore. Management said AI-driven changes in search behaviour had reduced the referral traffic on which Shiksha relied, affecting delivery outcomes for clients.

Info Edge is responding by building domestic counselling supported by AI voice bots, intended to create a direct relationship with students rather than depend on search referrals. In Study Abroad, it is widening destination coverage to the United Kingdom, United Arab Emirates and continental Europe as student demand changes. Management said its objective is to return Shiksha to growth while containing losses during the transition.

The investment portfolio adds another area requiring management attention, though the call did not provide a valuation or return target. Info Edge said its portfolio covers about 135 companies across AI, deep technology and consumer technology, with about Rs 5,000 crore invested through its balance sheet and alternative investment funds. Management said several portfolio companies had listed or raised follow-on capital.

Conclusion

The leadership change gives Info Edge a defined immediate handover but leaves its eventual senior-management design unresolved. Bikhchandani will take the Group CEO role alongside Managing Director and Executive Vice Chairman responsibilities from December 3, while Oberoi may remain a Non-Executive Director subject to shareholder approval. The transition occurs as Recruitment pursues AI adoption and 99acres moves closer to operating cash generation.

The next developments to watch are any decision by Bikhchandani and the NRC on internal promotions or external hiring, neither of which has been decided. Management has also set operational milestones: roughly 24 months of AI-Rex penetration work, positive operating cash at 99acres in FY27, and a Shiksha model pivot using AI voice-bot-supported counselling and broader Study Abroad coverage.