Info Edge acquires 20.50% stake in Terralytics

12 Apr 2022 , 01:08 PM

Terralytics is engaged in the business of developing intelligence and analytics in real estate vertical for sale to banks, developers, consulting firms, etc. for diligence, information and other purposes. It had recorded turnover of Rs 14.51 lakh in FY2020-21.

This investment would help the company to strengthen its offering in the real estate segment by providing an enhanced platform to real estate industry professionals, financial institutions and individual buyers to conduct their business efficiently.

Info Edge has agreed to acquire 6,650 compulsorily convertible preference shares as part of a larger fund raise exercise by Terralytics.

Upon the successful closing of the said fund raise exercise, the aggregate shareholding of the company in the said entity would be 20.50% on a fully converted & diluted basis.

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

The company reported 90.7% rise in standalone net profit to Rs 133.25 crore in Q3 FY22 from Rs 69.87 crore in Q3 FY21. Net sales increased by 48.1% YoY to Rs 403.26 crore during the quarter.

The scrip fell 2.05% to currently trade at Rs 4781.10 on the BSE.

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