In Good Company: Sanjeev Bikhchandani Debuts On India’s 100 Richest List

This story is part of Forbes’ coverage of India’s Richest 2020. See the full list here.

Sanjeev Bikhchandani, cofounder of internet company Info Edge (India), debuts on the list with a $2.1 billion fortune thanks to a nearly 70% stock surge over the past year. The pandemic meant fewer listings on the company’s classifieds websites, including Naukri.com, India’s largest job site by traffic share, cutting net sales by 10% to 2.8 billion rupees ($38 million) in the first quarter ending in June.

In response, the Noida-based firm trimmed spending to recover from a year-earlier loss and posted a consolidated net profit of 937 million rupees. 

After getting an M.B.A. from the Indian Institute of Management Ahmedabad, Bikhchandani started Info Edge to do salary surveys for human resources managers in 1990, adding online recruitment seven years later. Info Edge later launched sites for education, matchmaking and real estate. Today the company also invests in startups, holding stakes in two Indian unicorns: insurance site Policybazaar and food delivery app Zomato.