Info Edge: Oberoi steps down, Bikhchandani returns as group CEO
Info Edge CEO Hitesh Oberoi leaves on 2 December after 16 years; founder Sanjeev Bikhchandani takes over as group CEO, alongside a Q2 profit of Rs 649.8 crore.
Info Edge, the listed company behind Naukri, 99acres and Jeevansathi, said on 28 October 2026 that its managing director and chief executive Hitesh Oberoi will step down at the close of business on 2 December, and that founder Sanjeev Bikhchandani will return as executive vice chairman, managing director and group CEO from 3 December. The change needs shareholder approval. It came with second-quarter results showing a consolidated net profit of Rs 649.8 crore, up 87%, helped heavily by other income. The shares closed 1.23% lower at Rs 1,205 on the BSE that day, Inc42 reported.
What the company announced
The board approved the change, which the company disclosed in a regulatory filing on 28 October, according to Entrackr and Inc42. Bikhchandani's term runs until 26 April 2031, matching his existing appointment, and starts on 3 December 2026 subject to shareholders.
Oberoi joined in 2000 as chief operating officer and has served as MD and CEO for more than 16 years. After 2 December he will stay on the board as a non-executive, non-independent director from 3 December, also subject to approval. In his resignation letter, as Inc42 reports, he said he wants to give more time to interests in education, entrepreneurship, institution building, investing and philanthropy, and that the company is ready for the transition.
The company's press release, as Entrackr reports, credits Oberoi with a rise in market capitalisation from about Rs 2,500 crore to nearly Rs 80,000 crore during his time as CEO. It also cites Naukri's AI and data strategy, 99acres becoming a cash-generating business, Jeevansathi and Aisle turning profitable and Jobhai developing its monetisation. These are company claims.
Who Bikhchandani is and what he said
Bikhchandani founded Info Edge and has been vice chairman. He is also known for the company's portfolio of startup investments, some of which have grown into listed companies, Entrackr notes. He is 63, and Inc42 reports he said he cannot stay for 20 years, which suggests his priority is to steady the company first.
On structure, Inc42 says the leadership team is undecided. He will consult Oberoi, the nomination and remuneration committee and senior employees. His first priority, he said, is giving internal people a chance to grow. He also said no board-level discussions have taken place about this being an interim arrangement before hiring from outside. That is a statement of the current position, not a promise about the future.
Why does this matter to people outside the company? Info Edge is one of India's best-known internet businesses and a significant investor in its startup ecosystem. A change of chief executive at a company with that profile raises questions about succession, strategy and how it will choose investments.
What the quarter showed
The results arrived the same day. According to Inc42, for Q2 FY27 on a consolidated basis:
- net profit was Rs 649.8 crore, up 87% from Rs 347.5 crore a year earlier and up 32.6% from Rs 490.1 crore in the previous quarter;
- revenue from operations was Rs 903.9 crore, up 12.2% over a year and 2.6% over the quarter;
- other income was Rs 428.4 crore, up 164.8% from Rs 161.8 crore;
- total income was Rs 1,332.3 crore against Rs 967.2 crore; and
- total expenses were Rs 588.6 crore, up 4.5% from Rs 563.5 crore.
The shape matters. Operating revenue grew about 12%, but profit nearly doubled. The gap is explained mainly by other income, which includes gains and returns on investments and, for a company like Info Edge, can swing with markets and the valuation of its holdings. We calculate that other income was about 32% of total income (428.4 divided by 1,332.3), up from about 17% a year earlier (161.8 divided by 967.2). That is our arithmetic on the reported numbers.
Other announcements and open questions
The board declared an interim dividend of Rs 3 per share for FY27, with a record date of 6 November 2026, and approved selling its entire stakes in the healthtech startup MedCords and the employment platform Unnati Online for about Rs 5,000 each, per Inc42. Those tiny prices suggest the investments were written down to almost nothing, though the article does not say so; that is our reading.
Several things are unconfirmed. Whether Bikhchandani's return is permanent or a bridge is not decided. Whether the company will hire an outside chief executive or a chief operating officer is not announced. Shareholder approval, needed for both his appointment and Oberoi's move to the board, is pending. The company has not announced new targets or a strategy shift along with the leadership change, according to coverage we reviewed.
Why other income matters when reading the profit
Other income is the part of a company's earnings that does not come from selling its main products. For Info Edge it includes returns on its large investment holdings, interest on cash and gains when its startup stakes are revalued or sold. Those items can be large and lumpy. A quarter with a big gain looks like a breakthrough in profit growth, while the next quarter without one can look like a slowdown even if the core business is steady. That is why analysts usually look at revenue from operations, and at the profit of the recruitment, property and matrimony businesses separately, before judging how the company is doing. The sources we reviewed do not give a segment-wise profit split for this quarter.
What it means for investors, employees and founders
For shareholders, the question is continuity. The business lines, Naukri for recruitment and 99acres for property, are mature and generate cash, while the investment portfolio drives much of the profit swing. A founder returning to run the group may mean tighter involvement in capital allocation, though the company has not said that.
For employees, the stated priority is to give internal people a chance to grow, which hints at elevations, but no names or structure have been announced. For startup founders who have taken Info Edge money, the key point is that the investing arm is part of the same group, so the person who decides leadership also shapes the investing culture.
For anyone reading the profit number, separate operating performance from investment gains. Revenue growth of 12.2% describes the core businesses; the 87% profit jump includes a big contribution from other income that may not repeat. No part of this is investment advice.
Use the simulators below to explore two numbers in the story: the annual growth rate implied by the company's market value claim, and the cash from the interim dividend for a holding of your choice. Both are arithmetic on reported figures.
What to watch next
Watch for shareholder approval of both appointments before 3 December 2026, any announcement of the leadership team under Bikhchandani, the 6 November record date for the Rs 3 dividend, and Info Edge's Q3 FY27 results, which will show whether other income keeps lifting profit and whether recruitment revenue growth stays near 12%.
Key takeaways
- Hitesh Oberoi steps down as MD and CEO of Info Edge at the close of business on 2 December 2026, and founder Sanjeev Bikhchandani takes over as group CEO from 3 December, subject to shareholder approval.
- Info Edge's Q2 FY27 consolidated net profit was Rs 649.8 crore, up 87%, while revenue from operations rose 12.2% to Rs 903.9 crore.
- Other income of Rs 428.4 crore, up 164.8%, explains most of the gap between revenue growth and profit growth.
- The company has not said whether Bikhchandani's role is interim or what the new leadership structure will be.
- An interim dividend of Rs 3 per share has a record date of 6 November 2026.
Sources
- [Entrackr: Hitesh Oberoi resigns as Info Edge MD and CEO, Sanjeev Bikhchandani to take over](https://entrackr.com/news/hitesh-oberoi-resigns-as-info-edge-md-and-ceo-sanjeev-bikhchandani-to-take-over-12760999)
- [Inc42: Sanjeev Bikhchandani to take over as Info Edge group CEO, Hitesh Oberoi steps down](https://inc42.com/buzz/sanjeev-bikhchandani-to-take-over-as-info-edge-group-ceo-hitesh-oberoi-steps-down/)
Tags: Info Edge Naukri Leadership Quarterly results Startups