BOFA SECURITIES ON INFO EDGE ; BUY | TP ₹1,500

• Q2 Revenue: UP 13% YoY. • Q2 EBITDA: UP 28% YoY, supported by improving margins. • Naukri Business: Strong margins support overall profitability. • CEO Transition: BofA expects no major disruption to business execution. • AI & Data Products: Emerging as key growth drivers with annual recurring revenue (ARR) of ₹240 Cr. • Outlook: Strong margins, AI monetisation and stable execution support future growth. • Impact: Positive 🟢

INFO EDGE (I) LTD

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