Transcript of Earnings Conference Call on financial results for the quarter and half year ended September 30, 2026.

AI summary - Q2 FY27 standalone billings grew 13% YoY; revenue grew 13% to Rs.842 Cr; operating profit up 30% to Rs.347 Cr; operating PBT margin 41%, +541 bps YoY - Recruitment billings grew 13% in Q2; underlying growth ~14-15% adjusting for timing; AI-related billings annualized at Rs.240 Cr run rate - 99acres billings up 21% YoY; operating losses down 93%; cash from operations Rs.22 Cr; market share and engagement gains - Matchmaking billings up 23%; segment near breakeven; Jeevansathi profitable; Aisle growing fast - Shiksha billings down 27%; pivot underway with AI-driven counselling; near breakeven operating profit - CEO transition: Hitesh Oberoi to step down Dec 2; Sanjeev Bikhchandani to become MD & Group CEO from Dec 3 - AI products driving high-margin growth; focus on penetration and adoption over 24 months - Recruitment segments: premium, mid-market, value segments growing; Job Hai growing 80-90% YoY but currently loss-making - Real estate new project listings and channel partner sales growing; 99Shorts expanding beyond NCR - IT segment growth steady despite low net headcount additions; GCC segment growing in mid-size companies - Management confident in leadership depth and long-term growth strategy