Business Update Summary

OLX India, a subsidiary of CarTrade Tech Limited and one of India's leading used-products platforms, announced that its Elite Buyer program achieved a significant milestone with sign-ups crossing 80,000 in May 2026.

Program Description and Impact

The Elite Buyer program is designed to improve the buyer experience on OLX by enabling more serious, high-intent buyers to access:

  • Better discovery capabilities
  • Improved engagement features
  • More seamless buying journey across categories

Financial and Strategic Implications

The program has started contributing to OLX India's revenue growth and is expected to become a significant contributor to the Company's growth in the coming years. As the platform continues to deepen monetization across both buyer and seller journeys, Elite Buyer is emerging as an important pillar in OLX India's long-term business strategy.

Future Development Plans

Immediate Plans (Coming Quarter):
  • Launch of Elite Buyer AI featuring:
  • AI-led matchmaking capabilities
  • Pricing guidance features
  • Condition-check capabilities

These features are expected to help buyers discover more relevant listings, make better-informed decisions, and transact with greater confidence.

Medium-term Plans (Coming Quarters):
  • Development of a hyperlocal service model to help sellers sell faster to Elite Buyers
  • Creation of a quick-commerce-like experience for used products
  • Enabling sellers to connect with serious local buyers more efficiently

Strategic Outlook

The Company believes that the combination of Elite Buyer, AI-led discovery, and hyperlocal seller services can materially improve:

  • Platform liquidity
  • Trust factors
  • Transaction speed

OLX India continues to focus on building a trusted and high-quality marketplace for used products across the country, helping millions of Indians buy and sell more easily, safely, and efficiently.

Corporate Context

CarTrade Tech Limited is described as one of the world's largest digital automotive ecosystems and India's leading online marketplace company. Through platforms including CarWale, BikeWale, Shriram Automall and OLX India, the Company serves over 80 million monthly unique users, with over 95% of its traffic generated organically. Its consumer marketplaces host more than 63% of India's online used car listings, while its remarketing platforms facilitate the auction of over 1.7 million vehicles annually.