I ahve been using it since July 2014(10 months now). It performed well in starting but started lagging after 3 months. I wasn’t able to play games like subway surfer.
Memory is another issue. U wouldn’t be able to have more then 35-40 apps at a time on your phone. This is due to the fact that android stores app data in internal SD which is 1 GB only.
The phone is quite cheap when compared to other phones which have almost same features. But there are trade-offs. It is powered by 1.3 GHz, Quad core processor. It is API 19 Android version 4.2.2 Jellybean. Android Lollipop update is still unavailable(at least for my phone).
One of the drawbacks I found was that there are not enough drivers(official or unofficial) for windows. You will not be able to use it for developing Android Applications using Android Studio or Eclipse IDE on Windows OS. Battery backup is not bad.
The online market price ranges from Rs. 7225 to Rs. 7500. So if you are looking for a cheap smartphone with decent features, this is the phone.