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It is very hard to predict what is going to happen in Q4 in 99Acres – Info Edge CEO Hitesh Oberoi

Info Edge owned Real estate company 99Acres reported net sales of Rs 23 crore, up 20% year on year, for the three month period ending 31st December 2014. The company reported an EBITDA loss of Rs 14.4 crores in Q3, owing to "continued investments in sales expansion, service, product and technology and branding". On the Info Edge concall, CEO Hitesh Oberoi warned that the loss may increase, depending on the kind of investments the company incurs going forward, but also pointed out that growth has slowed down, which is impacting cost. Growth has slowed down "due to the uncertain market conditions", Oberoi said on the company concall, "specially in certain markets but we hope to continue to invest in the business and we expect to grow to come back in a couple of quarters." Business is also becoming more expensive for the company, because there are fewer real estate buyers in the market. "I think increasingly what is happening is that transactions are slowing down and there are therefore, limited number of buyers. There is a lot of competition to get those buyers on to the site, and it is getting more and more expensive. So irrationality creeps in because people are willing to pay a lot to get those buyers on the platform. Somewhere we have to take a call to what extent are we willing to sort of go to acquire this traffic," Oberoi said. He added that costs are increasing for everybody, and "whether we can pass on the…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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