Latest news with #HiteshOberoi
Time of India
27-05-2025
- Business
- Time of India
Info Edge Q4 revenue rises 14% to Rs 750 crore; net profit surges 8x to Rs 678 crore
Info Edge , the parent company of job site Naukri , on Tuesday posted a 14% year-on-year rise in operating revenue to Rs 750 crore for the quarter ended March, riding on growth in its recruitment and non-recruitment businesses. The company reported a net profit of Rs 678 crore, a significant jump from Rs 88 crore a year earlier. Total expenses during the fourth quarter of FY25 increased to Rs 539 crore from Rs 469 crore a year earlier. A significant amount of the expenditure was attributed to employee benefits, which amounted to Rs 331 crore; advertising and promotion costs totalled Rs 100 crore, while other expenses were at Rs 49 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mountain Gear for Extreme Conditions Trek Kit India Learn More Undo The company's recruitment solutions business, which includes grew 13% YoY to Rs 542 crore, while revenue from real estate listing portal 99acres rose 14% to Rs 106 crore. Revenue from other businesses, including and increased nearly 20% to Rs 101 crore. For FY25, Info Edge reported revenue of Rs 2,849 crore, up 12% from the previous year, and a net profit of Rs 1,310 crore, up from Rs 594 crore in FY24. Live Events 'After a muted start, recruitment billings accelerated well quarter-over-quarter, growing over 18% in Q4. Our non-recruitment businesses also sustained their momentum, gaining market share over the past few quarters and turning cash-positive for the full year,' said managing director and chief executive Hitesh Oberoi. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'All our businesses performed well in Q4, resulting in a 15% year-over-year growth in cash flow from operations,' said director and chief financial officer Chintan Thakkar. As of March 31, 2025, the company's standalone cash balance, including at wholly owned subsidiaries, was at Rs 4,786 crore. Last week, shareholders of Info Edge approved a proposal to invest up to Rs 1,000 crore in Info Edge Ventures Fund III , paving the way for the Noida-based company to ramp up its startup investments. Info Edge was an early investor in the Indian startup ecosystem, with bets on companies such as Zomato (now Eternal) and PB Fintech (Policybazaar). Earlier this month, cofounder Sanjeev Bikhchandani said in a letter to shareholders that Info Edge's stakes in Eternal and PB Fintech were together valued at Rs 31,500 crore (as of March 31, 2025). According to the company's investor presentation, it has 20 active investments in unlisted startups, with a total carrying value of Rs 636 crore.
Mint
21-05-2025
- Business
- Mint
Indian companies lag in workforce upskilling amid AI disruption, job cuts
MUMBAI : Amid mounting fears of artificial intelligence (AI) replacing humans in generic roles, Indian companies remain significantly underinvested in workforce upskilling, highlighting a growing gap between technological disruption and employee preparedness. A new report by upskilling platform upGrad, shared exclusively with Mint, reveals that only 50% of 12,000 respondents received any form of training at their workplaces in 2024-25. Only 16% said they undergo quarterly training. 'On one side, organisations are talking about investing in their people. But if one out of every two employees is unaware of any training opportunities, there's clearly a gap. Access to skilling needs to be improved," said Srikanth Iyengar, chief executive, upGrad Enterprise. Also Read: Jumping jobs? A Supreme Court judgement just made it tough, especially for freshers This comes as skill requirements are changing fast. Employers are prioritising talent skilled in AI over traditional coding roles, while jobs in project management, data analysis, and content marketing are seeing reduced demand, Mint reported earlier in May. 'The net effect is changing skill requirements, not necessarily fewer jobs," said Hitesh Oberoi, CEO of acknowledging that while some roles will be automated, new ones will emerge in a post on the social media platform X on 19 May. 'With the global shortage of AI specialists and India's strong foundation in technical education, we can position ourselves as a global AI talent hub—if we evolve our skilling ecosystem quickly," he said. Too little, and it's getting late For now, the impact appears to be hitting the current workforce and job seekers alike. Many startups, focused on profitability or planning to go public, have slowed hiring as they determine how AI will affect their operations. Major tech-driven firms like Zomato, Cars24, and Gupshup have laid off employees in recent months, Mint reported. When it comes to training existing talent, 60% of companies surveyed by upGrad allocate less than 5% of their human resources (HR) budgets to upskilling. Moreover, 61.5% of chief human resources officers (CHROs) reported no measurable impact from training initiatives, according to the report. Also Read: Demand for work under rural jobs scheme rising amid slowing economic growth 'Enterprise upskilling in India remains underpenetrated because most firms treat it as a discretionary HR expense—already a cost centre," Iyengar said. 'But it's as essential as payroll. Without the right people, a business isn't scalable or sustainable." Experts say relying on firing employees and hiring pre-skilled talent rather than training existing staff is a short-sighted strategy. 'A hire-and-fire model undermines India's long-term talent advantage. Unlike ageing Western economies, India's edge lies in its youthful population. To preserve that edge, we need to invest in developing talent, not just replacing it," said Jawahir Morarji, president-enterprise business at upskilling firm Emeritus. A shortcut is certainly not the best route The Economic Survey 2024-25 pegs India's median age at 28. Layoffs and job replacements aimed at short-term cost-cutting could weaken this demographic advantage. Also Read: Without upskilling, AI may put people out of jobs for long: Economic Survey 2025 Moreover, bringing in new talent is expensive and time-consuming. 'In high-speed sectors like information technology (IT) and fintech, new hires can take 3-6 months to become fully productive," said Ritesh Malhotra, enterprise head at Great Learning. 'As technology evolves rapidly, even 'pre-skilled' hires may require role-specific training after joining." The upGrad report also found that 75% of employees engage in learning only when it is mandated. At first glance, this may suggest a lack of interest from the workforce itself. However, experts argue that employees often struggle to identify which specific skills they need to develop, leading to poor training outcomes and wasted resources. In many cases, programmes aren't customised to suit the needs of different teams or roles. For example, Gen X workers prefer expert-led sessions, Gen Y favours flexible yet structured formats, and Gen Z leans towards immersive, on-demand learning. Still, 63% of HR leaders do not tailor learning initiatives by generation, the survey showed. Of the 12,000 employees surveyed, close to 40% were CHROs, management-level or C-suite executives. HR leaders from 1000+ companies participated in the survey.
Time of India
20-05-2025
- Business
- Time of India
How Indian and global CEOs are reacting to AI's growing impact on jobs
Artificial intelligence (AI) is no longer just a buzzword. It is already changing how industries operate and how people work. As this shift continues, several Indian and global CEOs are speaking openly about what AI means for jobs and the future of work . Hitesh Oberoi, CEO of Info Edge , which runs the job portal recently shared his views on X . He said AI is not just about cutting jobs but about changing the kind of work people will do. According to him, the focus now should be on building new skills. 'For job seekers, the message is clear: Develop skills that complement AI rather than compete with it. Problem solving, creativity, domain expertise, and AI literacy will be far more valuable than routine skills that can be automated. Continuous learning is no longer optional,' he wrote. Sridhar Vembu, CEO of software company Zoho, shared a more urgent view. He pointed to the rise of large language models (LLM) and new software tools as a serious challenge for people working in tech . 'The productivity revolution I see coming to software development (LLMs + tooling) could destroy a lot of software jobs. This is sobering but necessary to internalise,' he said on X. Outside India, global tech leaders are expressing similar concerns. Former Google CEO Eric Schmidt said professionals in many fields, including art and medicine, could become irrelevant if they do not adapt to AI . Nvidia CEO Jensen Huang also believes that people who avoid learning AI could lose their jobs to those who do not. At the Milken Institute's Global Conference 2025, Huang said AI will be part of nearly every industry . He said the only way to stay ahead is to learn how to work with it. Both Schmidt and Huang believe that refusing to engage with AI could limit career growth in the years ahead. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories These concerns are backed by data. In April, the United Nations Conference on Trade and Development warned that up to 40% of jobs across the world could be affected by AI. A report by McKinsey & Company also estimated that between 400 million and 800 million jobs could be displaced over the next five years. It said many workers may need to move into completely new roles. In India, the worry is just as strong. Microsoft's Work Trend Index 2023 found that 74% of Indian employees fear that AI could make their jobs unnecessary. The Economic Survey 2024-25 also raised similar points and called attention to the speed at which AI is transforming the labour market. Not every CEO is rushing to increase use of AI. Klarna Group, a fintech company, has decided to scale back its AI-based customer service . CEO Sebastian Siemiatkowski said the model led to a drop in service quality and the company is now adjusting its approach. Across the board, CEOs agree that AI will play a big role in shaping the future of work. Some see it as a chance to boost productivity. Others see it as a risk to current job structures. What is clear is that people who want to stay relevant in the job market will need to learn, adapt and keep pace with the change.
Economic Times
20-05-2025
- Business
- Economic Times
How Indian and global CEOs are reacting to AI's growing impact on jobs
Artificial intelligence (AI) is no longer just a buzzword. It is already changing how industries operate and how people work. As this shift continues, several Indian and global CEOs are speaking openly about what AI means for jobs and the future of work. Hitesh Oberoi, CEO of Info Edge, which runs the job portal recently shared his views on X. He said AI is not just about cutting jobs but about changing the kind of work people will do. According to him, the focus now should be on building new skills. 'For job seekers, the message is clear: Develop skills that complement AI rather than compete with it. Problem solving, creativity, domain expertise, and AI literacy will be far more valuable than routine skills that can be automated. Continuous learning is no longer optional,' he wrote. Sridhar Vembu, CEO of software company Zoho, shared a more urgent view. He pointed to the rise of large language models (LLM) and new software tools as a serious challenge for people working in tech. 'The productivity revolution I see coming to software development (LLMs + tooling) could destroy a lot of software jobs. This is sobering but necessary to internalise,' he said on X. Outside India, global tech leaders are expressing similar concerns. Former Google CEO Eric Schmidt said professionals in many fields, including art and medicine, could become irrelevant if they do not adapt to AI. Nvidia CEO Jensen Huang also believes that people who avoid learning AI could lose their jobs to those who do not. At the Milken Institute's Global Conference 2025, Huang said AI will be part of nearly every industry. He said the only way to stay ahead is to learn how to work with it. Both Schmidt and Huang believe that refusing to engage with AI could limit career growth in the years ahead. These concerns are backed by data. In April, the United Nations Conference on Trade and Development warned that up to 40% of jobs across the world could be affected by AI. A report by McKinsey & Company also estimated that between 400 million and 800 million jobs could be displaced over the next five years. It said many workers may need to move into completely new India, the worry is just as strong. Microsoft's Work Trend Index 2023 found that 74% of Indian employees fear that AI could make their jobs unnecessary. The Economic Survey 2024-25 also raised similar points and called attention to the speed at which AI is transforming the labour market. Not every CEO is rushing to increase use of AI. Klarna Group, a fintech company, has decided to scale back its AI-based customer service. CEO Sebastian Siemiatkowski said the model led to a drop in service quality and the company is now adjusting its approach. Across the board, CEOs agree that AI will play a big role in shaping the future of work. Some see it as a chance to boost productivity. Others see it as a risk to current job structures. What is clear is that people who want to stay relevant in the job market will need to learn, adapt and keep pace with the change.
Economic Times
19-05-2025
- Business
- Economic Times
How AI will impact Indian job market and the business: Info Edge CEO Hitesh Oberoi explains
As MD and CEO of InfoEdge, I'm often asked how AI will impact both, the Indian job market and our business. I'd like to share a balanced perspective on what we're seeing and expecting. 🧵 #AI #FutureOfWork — Hitesh Oberoi (@hitobs) May 19, 2025 Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel As AI continues to reshape industries worldwide, Hitesh Oberoi, CEO and MD of Info Edge , which operates the job portal Nau , through a series of posts on the social media platform X, has weighed in on how the technology is influencing the Indian job market and their in his post, has outlined his insights on the evolving employment dynamics driven by AI, the shifting skill requirements, and the emerging opportunities in the AI-driven stressed that the key takeaway is not necessarily a reduction in jobs but a transformation in the nature of work, with new skills gaining those who are in search of new jobs, Oberoi's advice was to develop skills that complement AI rather than compete with it.'For job seekers, the message is clear: Develop skills that complement AI rather than compete with it. Problem solving, creativity, domain expertise, and AI literacy will be far more valuable than routine skills that can be automated. Continuous learning is no longer optional,' he emphasized that while AI is automating some roles, it is also creating new positions, underscoring that the impact of AI on jobs isn't uni acknowledged that AI could potentially moderate hiring growth in traditional IT services companies, particularly for roles that involve basic application development and he pointed out that companies will also aggressively recruit for AI implementation, prompt engineering, and domain the broader market implications, Oberoi said that 'Meanwhile, Global Capability Centers are expanding rapidly in India. These aren't just cost arbitrage centers anymore—they are moving up the value chain and could become innovation hubs with AI at their core. GCCs may grow faster going forward, creating significant new job opportunities'.The CEO also underscored a potential shift in the compensation landscape, stating that AI-capable professionals could see 40-70% salary jumps when changing jobs, while traditional roles face wage stagnation. He cautioned that this growing disparity could create a bifurcated job the strategic front, Oberoi expressed that "India has a unique opportunity in the global AI landscape." He noted that the country could position itself to become a global AI talent hub provided it rapidly evolves its skill development highlighted that AI is a horizontal technology impacting multiple sectors, including Healthcare, Education, and Financial services. He added that customer service, operations, and administrative roles face higher automation risk, making sectoral divergence a key terms of economic outlook, Oberoi outlined that there is a fascinating possibility where India could achieve 6-7% GDP growth with fewer net new jobs due to AI-driven productivity gains."AI could also help us grow faster as an economy and help create more jobs overall,' he further read: Vodafone Idea shares dive 12% as SC rejects $5B dues waiver Oberoi further stated that 'companies won't just hire differently — they will structure and organise differently." According to him, organizations that adapt their entire operating model will outperform those just implementing AI his organization's level, he revealed that has launched new AI-powered data products aimed at helping CHROs and talent leaders navigate this shifting landscape. These tools provide unprecedented insights into talent availability, skill trends, and compensation benchmarks in near real his remarks, Oberoi said that Info Edge is actively preparing for this transformation by deploying AI to enhance search and matching algorithms across all our platforms, aiming to significantly improve and personalise user and customer experience.
