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Business Standard
2 days ago
- Business
- Business Standard
White-collar hiring stays steady in May, AI/ML and senior roles in demand
Hiring in India's white-collar job market held firm in May, with the Naukri JobSpeak Index ticking up slightly to 2,807 points, just above the 2,799 points recorded a year ago. Though overall activity was stable, the data revealed distinct surges in specific sectors and job categories, particularly in artificial intelligence/machine learning (AI/ML) and senior-level hiring. AI/ML hiring racing across metro cities Riding on last year's momentum, AI/ML roles registered a sharp 25 per cent year-on-year (Y-o-Y) growth in May. Demand expanded aggressively in metro cities: Delhi-NCR led growth with a 35 per cent surge, followed closely by Chennai (34 per cent) and Kolkata (33 per cent). Hiring demand extended through experience brackets with mid-to-senior professionals particularly in the 13–16 years cohort seeing an increase of 36 per cent. Entry-level roles weren't left behind either, showing a robust 22 per cent rise. Non-tech sectors drive fresher hiring Overall fresher hiring stayed flat in May. However, non-IT sectors emerged as key growth pockets. Insurance led the way with a 26 per cent rise in fresher hiring, followed by real estate (12 per cent). BPO/ITES (5 per cent) and hospitality (4 per cent) also registered modest increases, highlighting a shift in entry-level demand beyond traditional tech domains. Senior professionals remain in high demand Professionals with 16 or more years of experience continued to be in demand, with this segment witnessing a 6 per cent increase in hiring in May. This trend persisted across both metropolitan and emerging cities. Among the top metros, Hyderabad (16 per cent) and Kolkata (13 per cent) led the growth, while Kochi (23 per cent) and Ahmedabad (13 per cent) saw the highest demand among non-metros. Oil and gas (21 per cent) and real estate (17 per cent) were the top contributors by industry. Unicorns power urban hiring momentum India's unicorns continued their hiring spree, posting a 19 per cent Y-o-Y growth in May. Metros powered this trend as Delhi-NCR recorded a 29 per cent spike, followed by Hyderabad (27 per cent) and Bengaluru (12 per cent). The bulk of unicorn hiring was concentrated in banking and financial services (29 per cent) and internet/ecommerce (18 per cent). Beyond AI/ML and unicorn-led growth, a few traditional sectors showed resilience. Insurance hiring rose 6 per cent, real estate by 5 per cent, while BPO/ITES and hospitality each saw a 4 per cent uptick. These gains signal a wider recovery in customer-facing and service-oriented sectors. 'In an otherwise stable job market, what stood out in May was the continued momentum in AI/ML hiring across metros alongside steady demand for senior professionals, a trend that's held firm over the past year,' said Pawan Goyal, ED and CBO, 'It was also interesting to witness fresher hiring gain ground in non-tech industries which bodes well for young talent.'
Time of India
5 days ago
- Business
- Time of India
Niva Bupa elevates Nimish Agrawal to director of digital business & CMO
Niva Bupa Health Insurance has announced the strategic elevation of Nimish Agrawal to the role of director, digital business unit and chief marketing officer (CMO). This expanded mandate sees Agrawal continuing to spearhead the company's comprehensive marketing initiatives while also taking the helm of the Digital Business Unit, recognised as one of Niva Bupa 's most strategic and profitable growth channels. With a distinguished career spanning over two decades in the financial services and insurance sectors, Agrawal brings an experience in brand building, digital transformation , and customer-centric strategies. Prior to this elevation, Agrawal successfully led Niva Bupa's marketing efforts, playing a crucial role in enhancing brand visibility and market penetration. He joined the company in 2021 as SVP and head of marketing and digital sales. In an official press note, Niva Bupa Health Insurance extended its sincere appreciation for Agrawal's unwavering dedication and looks forward to his continued invaluable contributions in this critically important leadership role. He previously served as head of marketing at for over three years, where he led end-to-end marketing initiatives for the recruitment vertical at Info Edge. This included platforms such as FirstNaukri, Naukri FastForward, Naukri Premium, Naukri Learning, and Quadrangle, among others. Prior to that, he spent over three years at AkzoNobel Decorative Coatings, joining in 2014 as senior brand manager and later advancing to category head. In this role, he managed the interior paints portfolio, covering a wide range from entry-level premium products to super-premium offerings, including patterns, designs, and international finishes. He has also held roles at Britannia Industries and Henkel CEE.
Time of India
27-05-2025
- Business
- Time of India
RBI's new directive to NBFCs; Oyo's third IPO attempt
RBI's new directive to NBFCs; Oyo's third IPO attempt Also in the letter: RBI tightens default loss guarantee rule; NBFCs to exclude cover on fintech-sourced loans What's changing? Strengthen underwriting practices. Curb systemic risks. Avoid over-reliance on fintechs. Who's affected? MobiKwik Paytm Moneyview When's the deadline? The impact: NBFCs: Higher provisions, leading to reduced appetite for fintech-originated credit. Higher provisions, leading to reduced appetite for fintech-originated credit. Fintechs: Likely decline in originations and income. Likely decline in originations and income. Borrowers: Stricter access to unsecured credit. Oyo to meet bankers next week for third IPO attempt; eyes $5-7 billion valuation Verbatim: More details: The company is in talks with Indian and global banks. It aims to file its draft red herring prospectus (DRHP) between August and September, with a public listing targeted for March or April 2026, according to sources. This will be Oyo's third attempt at going public. It first filed with the Securities and Exchange Board of India in 2021, aiming for an Rs 8,430 crore IPO, but withdrew in 2022. A second filing, made confidentially in 2023, was also withdrawn in 2024. Recent fundraise: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Info Edge Q4 revenue rises 14% to Rs 750 crore; net profit surges 8x to Rs 678 crore Financials: Operating revenue (Q4): Rs 750 crore. Rs 750 crore. Net profit (Q4): Rs 678 crore, up from Rs 88 crore a year ago. Rs 678 crore, up from Rs 88 crore a year ago. Revenue (FY25): Rs 2,849 crore, up 12% YoY. Rs 2,849 crore, up 12% YoY. Net profit (FY25): Rs 1,310 crore, more than double the Rs 594 crore reported in FY24. Rs 1,310 crore, more than double the Rs 594 crore reported in FY24. Total expenses (FY25): Rs 539 crore, compared to Rs 469 crore in FY24. Employee benefits: Rs 331 crore. Advertising and promotion costs: Rs 100 crore. Rs 539 crore, compared to Rs 469 crore in FY24. Revenue breakdown: Recruitment solutions (including : Rs 542 crore, up 13% YoY. : Rs 542 crore, up 13% YoY. 99Acres (real estate portal): Rs 106 crore, up 14%. Rs 106 crore, up 14%. Other businesses (including and : Rs 101 crore, up nearly 20%. Also Read: Sarvam AI unveils multilingual LLM; low traction poses questions on India's AI scene About the model: The model supports a hybrid reasoning mode for tackling complex logical reasoning problems, as well as mathematical and coding tasks. Additionally, it features a non-think mode for general-purpose conversation. According to the company, Sarvam M outperforms similarly sized models on coding and math benchmarks. No traction: Frinks AI raises $5.4 million: Contineu raises $1.2 million: Technology workforce in Bengaluru crosses one-million mark; IT city among 12 global tech hubs: CBRE Details: The city ranks fourth among the 12 tech markets in terms of the share of its working-age population. 75% of Bengaluru's falls in this productive age group. Between 2019 and 2024, Bengaluru saw a 2.4% increase in its working population. The city also leads in terms of AI development talent. In 2024, Bengaluru attracted 140 venture capital (VC) deals worth $3.3 billion. The RBI has tightened rules on default loss guarantees (DLGs), a move that is likely to hit digital lenders hard. This and more in today's ETtech Top 5.■ Info Edge Q4 results■ Sarvam's LLM gets muted response■ Bengaluru tech workforce crosses 1 millionThe Reserve Bank of India (RBI) has directed non-banking finance companies (NBFCs) to exclude default loss guarantees (DLGs) provided by fintech partners when provisioning for bad will no longer factor in the typical 5% guarantee from digital lending partners to reduce provisioning on stressed loans. This marks a significant shift that could dent both origination volumes and fee income for RBI wants NBFCs to:The move follows cases where fintechs failed to honour DLGs, leaving NBFCs exposed to lending partners such as:These firms act as lending service providers and typically offer DLGs of up to 5%, often backed by fixed deposits lien-marked in favour of NBFCs. These guarantees act as credit cushions and are usually factored into expected credit losses (ECL) must comply by September 30, treating fintech-originated loans as if there is no credit enhancement. Some NBFCs have already begun adjusting provisions from Q4 directive is part of the RBI's broader crackdown on hidden risks in India's rapidly growing digital lending ecosystem. It also serves as a nudge for NBFCs to shoulder the risk they underwrite, instead of outsourcing Agarwal, CEO, OyoOravel Stays Ltd, the parent company of hospitality startup Oyo, is set to formally review proposals from merchant bankers next week as it prepares for a fresh attempt at an initial public offering (IPO), according to multiple people familiar with the development.'During the preliminary discussions, some bankers proposed that the company could get valued as high as $10 billion for its public issue, but the company's realistic expectation is around $6-7 billion,' a source August, Oyo raised Rs 1,457 crore from a group of investors at a significantly reduced valuation. In December, it secured $825 million in debt from Deutsche Bank to fund its $525 million acquisition of US motel chain Motel Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Bikhchandani, cofounder, Info parent Info Edge posted a 14% year-on-year (YoY) increase in operating revenue for the March quarter, driven by robust growth across both recruitment and non-recruitment AI startup Sarvam AI, the first company chosen by the government to build a homegrown foundational model, has launched its open-source large language model (LLM) . However, the early reception has been muted, with only a few hundred downloads in the initial claims its LLM, Sarvam M, performs well on benchmarks in mathematics, programming, and 11 Indian languages, including Hindi, Gujarati, Kannada, and model, released on Hugging Face, recorded just over 300 downloads at launch. As of May 27, the number had increased to 1,200. The lukewarm response has reignited debate over India's place in the global AI race, particularly with rivals such as DeepSeek and AI has raised $5.4 million in a new funding round led by Prime Venture Partners. Founded by IIT Hyderabad alumni Aditya Agrawal, Dharmgya Sharma, and Subhra S Bhattacherjee, Frinks AI is a deep-tech startup developing next-generation vision AI systems for industrial automation and quality startup Contineu has raised $1.2 million in a seed funding round led by SenseAI Ventures, with Piper Serica Angel Fund participating. Founded in 2023, the startup automates data entry on construction sites through its platform, utilising helmet-mounted cameras and 3D computer vision is now among the top 12 global technology hubs, joining the ranks of Beijing, Boston, London, New York, and Toronto, as its technology workforce has crossed the one million to a report by real estate consultant CBRE, Bengaluru's tech talent scale rivals that of the US hubs of San Francisco and New York.
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.
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Business Standard
25-05-2025
- Business
- Business Standard
Info Edge shareholders approve ₹1,000-cr investment in venture fund III
Shareholders of Info Edge (India) Ltd, the company behind job portal have approved a plan to invest up to ₹1,000 crore in its third venture fund. The infusion will enable the Noida-based firm to increase its backing of early-stage startups, reinforcing its strategy to expand its presence in India's growing venture capital ecosystem. 'In connection with the above, we hereby inform that the members of the company have approved the aforesaid resolution with requisite majority through remote e-voting postal ballot process as set out in the Postal Ballot Notice, and the approval is deemed to have been received on the last date specified by the company for remote e-voting, i.e. Saturday, 24 May 2025,' Info Edge said in a stock exchange filing on Saturday. Smartweb Internet Services Ltd, a fully owned subsidiary of Info Edge, will serve as the fund's investment manager and sponsor. The proposal was cleared with 99.9995 per cent votes in favour, co-founder Sanjeev Bikhchandani wrote in a post on X (formerly Twitter). 'Results of the Info Edge shareholders' postal ballot are in. The proposal to invest up to ₹1,000 crores in Info Edge Ventures Fund 3 was approved with 99.9995% of votes in favour. Thank you for the vote of confidence in our investing abilities, shareholders,' Bikhchandani posted on X on Sunday. Info Edge has played a key role as an early investor in India's startup landscape, backing companies like Zomato (now Eternal) and PB Fintech (Policybazaar). In a recent letter to shareholders, founder Bikhchandani reported that Info Edge's combined holdings in these firms were valued at approximately ₹31,500 crore ($3.7 billion) as of 31 March 2025.
