Info Edge, the parent company of the job portal Naukri and the real estate platform 99acres, demonstrated a 43% increase in net profit in the first quarter of fiscal year 27, while revenue grew by 11.4%.
Info Edge, the parent company of the job portal Naukri and the real estate platform 99acres, demonstrated a 43% increase in net profit in the first quarter of fiscal year 27, while revenue grew by 11.4%.
Info Edge's consolidated net profit for the first quarter of FY27 amounted to 490 crore rupees, compared to 343 crore rupees registered in the same period last year. Revenue for this period reached 881 crore rupees against 490 crore rupees a year earlier.
Info Edge CEO, Hitesh Oberoi, noted that the first quarter of FY27 was stronger compared to the trends observed during FY26. He attributed this to good growth in the recruitment sector, supported by improved hiring activity from enterprises and the continued implementation of artificial intelligence-based offerings such as AI-Rex and Talent Pulse. Furthermore, 99acres continued to strengthen its market leadership and approached the break-even point, while Jeevansathi remained profitable during the quarter.
However, when compared to the fourth quarter of FY26, Info Edge reported only a 1.3% revenue increase, while net profit declined by 35%.
The recruitment business contributed the most to Info Edge's revenue. Naukri showed revenue of 630 crore rupees, corresponding to a 12% year-over-year (YoY) growth. The real estate business recorded a revenue growth of 17% year-over-year, reaching 130 crore rupees.
Nevertheless, gross profitability metrics differed for both segments: Naukri reported a profit of 353 crore rupees, whereas 99acres incurred a loss of 2.13 crore rupees.
Info Edge CFO, Ambarish Raguvanshi, stated that the company's cash generation model was strengthened, as cash flows grew by 25.3%. Both recruitment and real estate demonstrated an increase in billed amounts, which grew by 17.5% and 16.5% respectively. Overall, it was a good quarter.
The company emphasized that it continues to deepen the use of artificial intelligence across the group, which contributes to product enhancement and opens new avenues for growth.
Mindspace Business Parks Reit, a real estate investment trust supported by K Raheja Corp, reported significant growth in its Net Operating Income (NOI) for the first quarter of the fiscal year 2027 (Q1 FY27). NOI increased by 27.8% compared to the same period last year, reaching INR 788 crore.
This growth was driven by several factors: increased rental income, asset acquisitions, active leasing activities, and maintaining a high occupancy rate across the entire portfolio.
The trust's operating revenue for the reporting quarter amounted to INR 951 crore, demonstrating a year-on-year growth of 26.4%. Furthermore, the trust announced a distribution of INR 442 crore to its unitholders in Q1 FY27, equivalent to a Distribution Per Unit (DPU) of INR 6.67, an increase of 15.2% year-on-year.
In compliance with the requirements of the Securities and Exchange Board of India (Sebi), trusts are obligated to distribute at least 90% of their Net Distributable Cash Flows (NDCF). NDCF is a standard financial metric established by Sebi to calculate the actual surplus cash flow available for distribution to the trust's investors. Trust payouts can take the form of dividends, interest, debt amortization from special project companies, or a combination of these elements.
Ramesh Nair, Managing Director and CEO of Mindspace Reit, noted that the results reflect the strength of the portfolio, the quality of assets, and disciplined management. He added that demand for campuses remains high, as most office spaces under construction are scheduled to be handed over within the next twelve months and are already pre-booked. To further enhance the integrated campus ecosystems and improve tenant service quality, the company has launched two new office projects and two new hotels.
In the first quarter of fiscal year 2027, the trust registered gross leasable area of 0.9 million square feet (msf), which decreased by 47% year-on-year. The average rental rate across the trust's portfolio was INR 81 per square foot per month, up from INR 73 per square foot per month. Meanwhile, occupancy in the Mindspace portfolio stood at 95.8%, slightly higher than the 95.7% recorded in the fourth quarter of fiscal year 2026.
Mindspace is working on a pipeline of projects under construction totaling 6.6 msf. During Q1 FY27, the company announced two new office buildings and two new hotels spanning 1.7 msf, located in Pune, Mumbai, and Hyderabad. The total portfolio size is approximately 46.2 msf, with the total asset value estimated at INR 51,890 crore. Quarter-over-quarter (QoQ), Mindspace's NOI grew by 6.19%, while gross leasable area declined by 74.28%.
