99acres.com on Road to Recovery

99acres.com parent company Info Edge is continuing its slow recovery, reporting a loss in revenue and a boost in sales for the quarter ending 31 March.

The company was reporting increases in net profit and net sales at the end of 2009, but now quarterly profit is down 4.24 percent from the previous year to a total of 132.23 million INR. At the same time, net sales are up 13.10 percent at a total of 652.6 million INR.

Info Edge founder and CEO Sanjeev Bikhchandani was positive about the results, telling moneycontrol.com that “growth is back”. “[T]he economic recovery is real,” he told the website. “It is impacting our business positively and we are expecting the future quarters to be better than the past.”

That recovery is apparently being felt at 99acres.com, which saw a 38.8 percent boost in revenue. The portal is still described as being in “investment mode”, however Info Edge says its losses were reduced this quarter.

99acres.com recently staked its claim to the title of top Indian property portal – a title that is regularly contested by competitor websites such as indiaproperty.com and magicbricks.com.

1. 99acres.com Claims Market Lead

   First quarter profits are up at Info Edge, parent company of Indian property portal 99acres.com, to a total of 173 million INR - 30 percent higher than in the first quarter of 2009. Info Edge co-founder and CEO Sanjeev Bhikchandani describes growth at 99acres.com as "pretty good," but admits that the portal has still not moved into the black....

2. Rough Quarter for 99acres.com

   Info Edge (India) Ltd, owner of 99acres.com, has announced its financial results for the quarter ending 30 September 2009. ...

3. Info Edge Slowly Recovers

   After a rough quarter ending 30 September, 2009, Indian online classifieds company Info Edge has reported increases in net profit and net sales for the three months ending 31 December, 2009. Info Edge, which owns real estate portal 99acres.com along with jobs portal naukri.com and matrimonial website jeevansathi.com, increased net profits by 6.2 percent to 156.45 million INR. This is still down from the corresponding quarter in 2008, when the company made 172.12 million INR net profit. ...

4. 99acres.com Search Goes Mobile

   Indian property portal 99acres.com has launched a mobile application to search its website in partnership with mobile Internet company Mobisoc Technology. The application will allow users to access and search 99acres.com from their mobile....

5. 99acres.com Claims Top Spot

   In our recent feature on property website logos, we saw how at least two portals in India - magicbricks.com and indiaproperty.com - both claim to be the country's number one portal. This is a title that's often contested, so it's no surprise that 99acres.com has now come out with figures to back up its claim to the top spot....