Indian property portal 99acres.com had a strong quarter in the three months to December 2010, growing 74 percent according to a company spokesperson.
Hitesh Oberoi, managing director and CEO of 99acres.com parent company Info Edge, recently told moneycontrol.com that both 99acres.com and jobs portal naukri.com did well in Q4 2010, while matrimonial portal jeevansathi.com lagged behind. However, Oberoi also conceded that 99acres.com “is less than 10 percent growth business right now” when asked how much money it contributed to the Info Edge kitty.
According to indiatimes.com, Info Edge’s profits were up 40 percent in Q4 2010 compared to Q4 2009. “naukri.com and 99acres.com did well and their competitive positions improved during this period,” Info Edge CFO and director Ambarish Raghuvanshi told the website.
Raghuvanshi recently said he expects 99acres.com will break even some time over the next six to nine months.
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