One of the longest-running partnerships in Indian internet business is changing shape. Hitesh Oberoi, who has led Info Edge, the parent of India's largest job portal Naukri.com, for years as managing director and chief executive, will step down, handing the reins back to founder Sanjeev Bikhchandani.
Info Edge said this week, alongside its quarterly results, that Oberoi will step down as MD and CEO at the close of business on December 2, 2026, after nearly 27 years in a full-time executive role at the company, according to Inc42. Bikhchandani, the company's founder and vice chairman, will become executive vice chairman, managing director and group CEO from December 3.
Oberoi will remain on the board as a non-executive, non-independent director from December 3, subject to shareholder approval.
Why Oberoi is stepping down
Info Edge said Oberoi wishes to devote more time to "education, entrepreneurship, institution building, investing and philanthropy," as well as to his family.
The announcement brings to a close one of Indian business's most enduring executive partnerships. Oberoi joined Bikhchandani in the early years of Info Edge, and the two have been closely associated with its growth from a small online jobs board into a diversified internet company and one of India's most successful startup investors.
The founder returns
Bikhchandani founded Info Edge in 1995, launching Naukri.com in 1997, at a time when internet access in India was extremely limited. He is widely regarded as one of the pioneers of India's internet economy, and has been a prominent voice on entrepreneurship and startup investing.
His return to an executive role as group CEO is notable. Founders returning to lead companies they started can bring renewed energy and strategic clarity, but investors will want to understand how leadership responsibilities will be shared across Info Edge's businesses, and what succession planning looks like for the longer term.
Strong quarterly results
The leadership news came alongside the company's results for the July-September quarter. Info Edge reported consolidated net profit of ₹649.8 crore, up 87% from ₹347.5 crore a year earlier and 32.6% higher than ₹490.1 crore in the previous quarter.
Revenue from operations rose 12.2% to ₹903.9 crore, and 2.6% sequentially. Other income jumped 164.8% to ₹428.4 crore from ₹161.8 crore, contributing significantly to the profit increase.
Other income for Info Edge often includes gains from its investment portfolio and interest on its substantial cash holdings, which can make reported profit volatile from quarter to quarter. Operating trends in the core businesses are therefore closely watched by analysts.
The Info Edge empire
Info Edge operates several well-known internet platforms. Naukri.com is India's dominant online recruitment platform, used by millions of job seekers and employers. The company also runs 99acres, a real estate listings portal; Jeevansathi, a matrimonial site; and Shiksha, an education information platform.
Beyond its operating businesses, Info Edge is famous as one of India's most successful early-stage investors. It was an early backer of Zomato, now Eternal, and PolicyBazaar's parent PB Fintech, both of which went on to list on the stock market, generating substantial returns. It has also invested in numerous other startups through its venture funds.
The jobs market link
Naukri's performance is closely tied to hiring activity in India, particularly in information technology, financial services and other white-collar sectors. IT companies, historically among the largest recruiters, have been cautious about hiring as artificial intelligence reshapes demand for technology services. Infosys cut its full-year revenue growth guidance last week, citing pricing pressure and client demands for productivity.
A slowdown in IT hiring can weigh on Naukri's billings, though growth in non-IT sectors, global capability centres and startups can partly offset it.
AI and the future of recruitment
Info Edge has been investing in artificial intelligence to improve job matching, resume screening and recruiter tools. AI is transforming the recruitment industry, with tools that can automatically match candidates to roles, conduct initial screening and generate job descriptions.
For Naukri, AI presents both an opportunity, to offer more valuable services to employers, and a threat, as new AI-native recruitment platforms and large technology companies enter the market. How Info Edge navigates this shift will be one of the key challenges for Bikhchandani's renewed leadership.
What it means for investors
Leadership transitions at well-established companies can create uncertainty, even when the successor is the founder. Investors will look for clarity on strategy, capital allocation and the management team below the CEO.
Info Edge's strong balance sheet, market-leading positions and valuable investment portfolio provide stability. The key questions are whether the company can reaccelerate growth in its core recruitment business and continue to generate value from its startup investments.
A legacy in Indian internet
Oberoi's tenure spans almost the entire history of India's consumer internet industry, from the dot-com era through the smartphone revolution to the age of AI. His decision to step back marks a generational moment for one of the companies that helped define that industry.
Lessons in founder succession
Leadership transitions at founder-led companies are delicate moments, and Info Edge's handling of this one offers a case study for India's maturing internet sector. Oberoi joined the company in its early years and rose to lead it, while Bikhchandani moved into the role of executive vice-chairman and focused on the company's investment portfolio and long-term strategy. Bikhchandani's return to an operating role brings the founder back to day-to-day leadership at a time when artificial intelligence is reshaping recruitment, real estate listings and online classifieds.
Corporate governance experts often stress the importance of clear succession planning, communicated well in advance. The roughly five-week gap between the announcement and Oberoi's departure date of December 2 gives the company time to hand over responsibilities, and the strong quarterly results provide a stable backdrop for the change.
Investors' perspective
For shareholders, the key questions are whether the change in leadership alters the company's capital allocation, particularly its approach to investing in startups, and how quickly it adapts its core platforms to AI. Info Edge has a long record of disciplined investing, and analysts will look for continuity in that approach.
What comes next
The transition will take effect on December 3. Investors will watch for any changes in the senior management team, as well as Bikhchandani's priorities for the company's businesses and its investment strategy. Shareholder approval for Oberoi's continued board role will also be sought.
