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InfoEdge: Recovery in Naukri, cash burn down in Zomato, higher traffic in Jeevansathi in Q1

||Kumardeep Banerjee

InfoEdge's core business Naukri saw bounceback in job seeker traffic to pre-Covid levels, and recruitment activity improved to 35% yearly decline in June as compared to 65% decline in April, despite zero spending on marketing. The lockdown impacted both job seeker and recruiter activity, with Naukri adding 8,400 CVs, half of what it was adding last year. CV modifications were down 20% YoY to 324,000. The IT and telecom services segment showed improvement, from a 45% decline in April to a 27% decline in June. Travel and hospitality were impacted the most, retail showed some signs for recovery. Recruiter traffic is now back to 65% levels. 99acres: Listings of new homes, rentals, resell, commercial were all impacted. Businesses improved gradually in June, and smaller cities showed lesser decline, compared to larger metros. Daily listings posted by owners recovered to pre-COVID levels, but broker listings are recovering at a slower rate. Traffic was back to 85% of pre-Covid levels by end of June. Buyer activity on 99acres "is back with a bang". Visitors are up over last year, and there is a massive surge in response from last year. "There is a 65% jump in resale inquiries. Inquiries still down on rental side compared to last year, but that its small part of business. Owners are coming and listing properties directly, much more than last year. Dealers and developers have been slower to get back on platform, but they are now coming back since buyers and listings are coming back," said…

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