99Acres Claims it Has Retaken Top Traffic Spot From Housing.com as Revenue Increases 20%

The Indian tech company Info Edge has revealed that its real estate vertical 99Acres saw revenues grow 19.5% in the first quarter of its financial year as it managed to reduce operating losses. Notable points from the company's report for the three months ended June 30th include:

• Total company revenue increased 9.3% year-on-year to ₹6.4 billion ($76.1 million).
• Revenue for 99Acres was up 19.5% year-on-year at ₹988 million ($11.8 million).
• Operating loss for 99Acres decreased by 39.3% to ₹140 million ($1.67 million).

Despite a small slowdown in new project sales in the quarter, 99Acres saw increased revenues and was able to significantly cut operating losses thanks to an increase in customer numbers and yield per paying customer.

Although it had fallen behind REA India-backed rival Housing.com in terms of overall traffic in previous reports, Info Edge's report used Similarweb's data to claim that it had regained the number-one spot in June. The portal continues to say that 99Acres is the superior platform in terms of traffic engagement and claims that it grew the active user base of its apps by 33% in Q1.

Listing volumes and paid listings were up slightly year-on-year.

Along with the 99Acres real estate portal, Info Edge also runs the popular jobs vertical Naukri (which contributes around 80% of revenue), as well as the matrimonial site Jeevansathi and educational site Shikasta.