HSBC has maintained its buy rating on Info Edge with a target price of ₹1,625 per share, even as it flagged some moderation in near-term growth trends. The brokerage believes the company’s core businesses remain well positioned, with valuations offering comfort relative to long-term growth prospects.
According to HSBC, billings growth in Q3 remained steady at 12% for the overall business, while the recruitment segment recorded 11% year-on-year billings growth. While this performance reflects stable demand conditions, the brokerage expects some moderation in reported revenue growth during the quarter, making management commentary a key monitorable.
HSBC highlighted that despite near-term growth normalisation, Info Edge’s core business valuation looks attractive, particularly given its strong market positions across recruitment, real estate and other digital verticals. The brokerage remains constructive on the company’s long-term trajectory, supported by high-margin platforms, strong brand equity and optionality from non-core investments.
Overall, HSBC believes that while growth may not accelerate sharply in the immediate term, Info Edge’s structural strengths and valuation comfort continue to support its buy stance.
Disclaimer: The views and recommendations above are those of HSBC. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
