Shares of Info Edge will be focus today as brokerages reviewed the firm's billing growth numbers for the first quarter of FY27, ahead of its financial results. Citing Q1FY27 business updates, JP Morgan maintained overweight coverage on the stock at a target price of Rs 1,350, an upside 16.4% from its last closing price. Nomura also retained 'buy' rating at a target price of Rs 1,320, marking an upside of 13.8%.
On Tuesday, July 7, Info Edge reported standalone billings of Rs 737 crore for the quarter ended June 30, 2026, an increase of 14.41% from a year earlier. Recruitment solutions, including Naukri.com, contributed Rs 552.7 crore in billings, compared with Rs 470.3 crore in the corresponding quarter last year, reflecting a 17.5% year-on-year increase. Following the declaration of Q1 growth data, the company's shares rose nearly 12% in intraday trade.
The real estate platform, 99acres posted billings of Rs 110.1 crore, up from Rs 94.4 crore a year earlier, marking growth of 16.6%. Jeevansathi recorded billings of Rs 39.6 crore, compared with Rs 34.7 crore in the year-ago period, an increase of 14.2%. Shiksha was the only business to report a decline. Its billings fell to Rs 34.6 crore from Rs 44.8 crore in the corresponding quarter last fiscal.
According to JP Morgan, Info Edge's billings have accelerated, most likely from premiumisation. The brokerage believes the growth acceleration has likely been boosted by growth across IT Services, GCC and Naukri Gulf. It highlighted that sustainability of surge in Naukri billings is crucial, while premiumisation-led growth is expected to support higher margins.
Meanwhile, Nomura flagged Shiksha recorded a decline as the ‘search' function was impacted by AI. It further highlighted that Naukri's billing beat estimates, likely due to premium hiring, which are the jobs in niche skills with higher pays especially in technology sector and a renewed focus on consumer business despite a possible weakness in the Middle East market due to the ongoing conflict.
Real estate business too, had strong billing growth. Billing in the previous quarter (Q4FY26)s were impacted by internal changes including sales organization revisons and tighter invoicing, process controls. The management called it as "a one-time transitional impact on 4Q billings" and expected growth to recover in 1Q FY27. Nomura believes the growth should continue in the real estate segment in the next few quarters.
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