NIIT in News

Campaigns

Environment Scan

Please click here to download
or view complete NIIT Investor presentation

NIIT Limited announces Q3 (Oct-Dec 2011) Consolidated Results FY’ 2011-12

NIIT completes 30 years of innovation in global talent development

• Q3 PAT up 215 % YoY at Rs. 40.7 Cr
• Divestment in US subsidiary Element K completed for USD 110 Mn
• Revenue excluding Element K grows 15% YoY
• Commences operations of NIIT Yuva Jyoti, a Joint Venture with NSDC for vocational skills to train 7 million youth in 10 years

NIIT Limited: Q3 (October – December, 2011) Consolidated Financials at a glance (in Cr) for Quarter ended Dec 31, 2011
System-wide Revenue	395.5
Net Revenue	250.1
EBITDA	25.1
EBITDA %	10%
Profit After Tax	40.7

(In view of the divestment in Element K during the quarter, the following table represents the comparison with the previous year on a like-to-like basis)

NIIT Limited: Q3 (October – December, 2011) *Consolidated Financials on a Continuing business basis (in Cr) for Quarter ended Dec 31, 2011
	Qtr ended Dec 31, 2011	Qtr ended Dec 31, 2010	Growth YoY
System-wide Revenue	384.4	321.8	19%
Net Revenue	239.0	207.9	15%
EBITDA	24.4	29.7	(18%)

*Excluding financials of Element K

NIIT recorded a Profit after Tax of   40.7 Cr representing a 215% growth YoY in the Q3 (October-December) 2011-12 quarter.

The company’s Net Revenue stood at 250.1 Cr and the System-Wide Revenue was recorded at 395.5 Cr. The EBITDA was at 25.1 Cr reflecting a margin of 10%.

During the quarter, NIIT divested its stake in Element K (which was acquired for USD 36.5 Mn in 2006), for a cash consideration of USD 110 Million. On a continuing business basis (i.e excluding financials of Element K) the company’s Net Revenue stood at 239 Cr, up 15% YoY, while the EBITDA was recorded at 24.4 Cr.

The total debt in balance sheet is reduced by 286.8 Cr. and there was a net positive cash of 70.6 Cr as on December 31, 2011. The results were taken on record at the meeting of the Board of Directors here today.

Individual Learning Solutions – IT recorded 11% growth in net revenue YoY, backed by growth in Diplomas & Short-term technology modular enrolments by 10 % & 14 % respectively.

The quarter also saw successful commencement of training delivery in colleges through Synchronous Learning Technology.

NIIT courses continued to receive both international & domestic acceptance. While the company earned the coveted “Mexico First” approval for NIIT Programs & Certifications which entitles it to subsidies by the Mexico Government, back home NIIT received the prestigious "Franchisor of the year award" from Franchising India 2011 for developing the best franchise model in the field of education.

Corporate Learning Solutions (CLS) recorded fresh order intake during the quarter at USD 21.2 million. CLS closed the quarter with a pending order book of USD 47.6 million, 50% of which is executable over the next 12 months.

CLS continued to execute on its strategy around offering Managed Training Services (MTS) by adding two additional multi-year multi-million dollar accounts, including a Global Oil and Gas major and a leading technology player.

School Learning Solutions showed a robust growth in the private schools space, clocking a 251% growth YoY in the number of schools added during the quarter. Non Government schools revenue grew by 24% YoY.

NIIT continued its focus on smaller metros and tier II cities, by showcasing its flagship product- NIIT NGuru, learning solutions for schools. The cutting edge NIIT NGuru consist of a holistic education package that addresses the needs of all key stakeholders within the education realm—Students, Teachers, School management and Parents.

During the quarter NIIT NGuru received the eIndia Award 2011 for its innovative learning solutions- Math Lab and Mobile Science Lab.

Five Yuva Jyoti centres were operational during the quarter, with a plan to scale upto 1500 centres across 1000 cities.

Other major acknowledgments in Q3 2011:

• NIIT features as the ‘Most Trusted Leader in Education’ in Brand Trust Report, India Study, 2012, undertaken by Trust Research Advisory
• NIIT USA wins the Gold at the Chief Learning Officer (CLO) magazine’s annual “Chief Learning Officer Learning In Practice” awards
• NIIT USA honoured with the 3 Brandon Hall ‘Excellence Awards’ for Performance Support, Learning, and Marketing
• NIIT USA honoured at Seventh Annual Human Resource Outsourcing Association (HROA) Awards for its partnership with Diageo
• NIIT NGuru wins Manthan Award in Chairman’s distinction category for e-education and learning

Three decades of innovation at NIIT

Over the last three decades, NIIT has ushered multiple innovations in talent development, setting new benchmarks for the industry to emulate. Conceptualized with the founding thought of- “Bringing people and computers together, successfully”, NIIT has today transformed into a Global Talent Development Corporation backed by extensive innovation in learning and knowledge solutions delivery.

The 80s saw the introduction of path-breaking innovations -- Technology in Education; Franchising Model of Education and creation of `Computerdrome’ to provide unlimited computer time to students.

The industry endorsed GNIIT program for students seeking careers in IT; Bhavishya Jyoti Scholarships for meritorious and socially challenged students; the revolutionary Hole-in-the-Wall project for underprivileged children; and PPP models entailing partnership with State Governments for K-12 education were some of the key innovations initiated by the company in the 90s. The decade also saw NIIT adopting extensive innovation in market entry strategies, across international geographies.

In the last decade, NIIT diversified beyond IT training by entering into partnership with domain experts in growing industry verticals. These included alliances with ICICI for developing trained manpower for Banking & Financial Services sector through its IFBI initiative; and with Genpact for BPO training. Similarly it has joined hands with leading B- Schools like IIMs for its NIIT Imperia venture, aimed at working professionals.

Strengthening its international footprint, NIIT created a unique model in China - “NIIT-Inside” - to implement innovative partnership with Chinese Universities.

More recently the not-for-profit NIIT University – a new Model in Higher Education; the new-age GNIIT- India’s First Cloud Campus; and NIIT Yuva Jyoti (a JV with NSDC)- the largest PPP of its kind to enhance employability for youth, have added momentum to NIIT’s thrust on innovation.

NIIT launches India’s first Yuva Jyoti Centre in Karnal

- To develop skills & enhance employability for the youth of Karnal and the adjoining region -

NIIT unveiled India’s first ‘NIIT Yuva Jyoti’ (NYJ) Centre in Karnal, located at the Old Tehsil Complex, Karnal. The centre was inaugurated by Vijay Thadani, Chief Executive Officer, NIIT, in presence of Sanjay Bahl, President, Skill Building Solutions, NIIT.

‘NIIT Yuva Jyoti’ (NYJ) is a joint venture of NIIT and NSDC (a PPP initiative of Govt. of India). NYJ centres will help youth chart ambitious careers by opting for programs that suits their aptitude. In the initial phase NYJ centres will impart training in service sectors skills across the 9 service sectors – Retail, IT/ITeS, BFSI, Education & Training Services, Media & Entertainment, Healthcare, Telecom, Hospitality and the Informal sector. Built on a strong foundation of NIIT pedagogy, state-of-the-art industry endorsed curriculum will be used to transfer skills to students. NYJ aims to develop skills & employability for thousands of youth across Karnal and the surrounding region in the coming years.

The courses on offer will enhance employability skills of students by offering occupational, communication, and professional and life skills to make them industry ready. The students will also enjoy the benefits of certification and placement assistance. NIIT had organized a two-day mass counselling session earlier this month in Karnal to help youth identify their potential/talent and offer them a suitable career plan.

The courses ranging from 4-6 months will help youth enhance their employability through NYJ’s unique training methodology, course content and infrastructure.

The 1st NIIT Yuva Jyoti Centre at Karnal has been localized to suit the requirements of the industry sector being addressed. Students will have multiple entry and exit points for each course. Once the basic skills in a particular sector have been mastered by the students, they will be able to further develop their potential by pursuing advanced courses and specializations.

Earlier this year, NIIT entered into a significant public-private partnership with National Skill Development Corporation (NSDC) to enhance skills and employability for youth across India. Starting with Karnal, NYJ aims to setup over 1500 state-of-the-art NIIT Yuva Jyoti Centres, across 1000 cities. The aim is to provide industry and job specific training to around 70 lakh young Indians by 2022, thus helping create a pool of job-ready work-force for the service industry.

NIIT Receives Dataquest Top IT Training Company Award 2011

Wins the coveted accolade for 19th consecutive year since inception of this award category

NIIT was conferred with the ‘Top IT Training Company Award 2011’ by the country’s leading IT publication- Dataquest. NIIT has been receiving the coveted award successfully for the last 18 years since the magazine introduced this category.

Established in 1981, to help the nascent IT industry overcome its human resource challenges, NIIT has today grown to be amongst world’s leading talent development companies. The company continues to provide innovative range of programs as a solution to manpower needs in the IT industry.

The Indian IT training segment has grown by 3% to reach Rs. 2413 crore in FY 10-11, with the e-Learning segment reaching revenue of Rs 1841 crore in the year. Within the IT training market, Individual training segment grew by 19% to record a turnover of Rs. 1134 crore, while corporate training recorded a turnover of Rs. 1279 crore.

According to Dataquest, NIIT continues to be the leading player in the IT Training category, be it individuals, corporate or schools. NIIT’s revenue of Rs. 1,248 crore in 2010-11 formed around 50% of the total IT education market in India.

World Chess Champion and NIIT MindChampion Viswanathan Anand felicitates young ‘Ambassadors of NIIT’

• Shares valuable “Lessons from Chess” to help young achievers excel in life
• NIIT to groom student ambassadors on leadership, communication and project management skills

World Chess Champion and NIIT MindChampion Viswanathan Anand felicitated young ‘Ambassadors of NIIT’ in Chennai. These Ambassadors- college students selected by NIIT, will be provided leadership, communication and project management skills to groom them into future leaders.

More than 150 nominations were received for the programme out of which – 38 students were selected on basis of their academic achievement, communication, personality and feedback from their trainers.

These student ‘Ambassadors of NIIT’ will serve as a strategic link between the local campuses and NIIT in Chennai. The ambassadors will ensure the success of NIIT events in campus, evaluate the proposals from respective colleges and universities to associate with NIIT and maintain open and regular communication with student councils, career placement and university relations departments to help raise NIIT’s visibility on campus. This ‘Ambassadors of NIIT’ programme has been designed to help students develop leadership, communication and vital project management skills.

Anand drew parallels from his life on how chess helped in his overall personality development by improving his memory, perseverance, strategic thinking and communication skills. The World Champion spoke at length on how chess helped him shape into a true professional.

 

NIIT to focus on delivering large multi-year Managed Training Services to global corporations -- Sells its stake in Element K, Enters into Strategic Partnership with SkillSoft

NIIT Ltd. divested its stake in its step down subsidiary, Element K Corporation, based in Rochester, NY, USA, by selling the Element K business to SkillSoft Corporation and SkillSoft Ireland Limited (the “Buyers”), indirect subsidiaries of SSI Investments II Limited (“SSI II”) which is the parent company of SkillSoft Limited (formerly SkillSoft PLC) (“SkillSoft”), for consideration of $110M in cash, subject to closing adjustments.

Over the last few years, NIIT has consolidated its expertise in Managed Training Services including Custom Content Development; enabling technologies including Learning Management System, Learning Portal and Training Operations Management System; Instructor Led & Web-Based Technology Assisted Training Delivery; Strategic Sourcing; and technology enabled Training Administration services in order to provide multi-year, multi-million dollar training solutions & services to global corporations.

NIIT also announced that it has entered into strategic long-term services and licensing agreements with SkillSoft. The two companies have a history of working together on multiple product development initiatives to create e-learning products that have been successful in the global business learning market. As a first effort in this renewed relationship, NIIT will become a SkillSoft product development partner in helping produce new content for SkillSoft’s e-learning content collections for Business, IT and Desktop skills.

In addition, the two companies intend to collaborate on R&D initiatives to explore and create new paradigms for technology-enabled learning and performance support. “We’ve enjoyed a very productive relationship with NIIT over the years, and look forward to this renewed partnership,” said Chuck Moran, CEO of SkillSoft. “By leveraging SkillSoft’s and NIIT’s joint experience and know-how, we believe there is great opportunity to create new innovations that will make online learning even more broadly embraced by the global market.”

This partnership will also help NIIT become content-agnostic and increase the ability to provide its large clients a broader vendor neutral solution including custom-developed content created at NIIT’s own facilities.

World Chess Champion and NIIT MindChampion Viswanathan Anand awards Super Achievers at NIIT

Shares valuable “Lessons from Chess” to help youth excel in life

World Chess Champion and NIIT MindChampion Viswanathan Anand felicitated NIIT Super Achievers - 30 students and 15 faculty members from NIIT for their exemplary performance, at an event organised in Delhi.

NIIT MindChampion Anand addressed the students on “Lessons from Chess” and drew parallels from his life on how Chess helped in his overall personality development by improving his memory, perseverance, strategic thinking and communication skills. The World Champion spoke at length on how Chess helped shape him into a true professional.

World Chess Champion Viswanathan Anand also shared his experience of how rigorous training through technology helped him develop the required skill sets. He also spoke about NIIT’s three decades of excellence in providing cutting edge technology for training and education. NIIT’s Individual Learning Business offerings include industry-endorsed programs for students seeking careers in IT - GNIIT, Edgeineers and Global Net Plus for IT professionals.

NIIT USA earns honours in at Learning In Practice Awards, HROA Awards and Brandon Hall Group Awards

Managed Training Services Leader receives prestigious acknowledgment for E-Learning

For the fourth consecutive year, NIIT claimed the E-Learning Award at the Chief Learning Officer Awards. NIIT took home the ‘Gold Medal’ besting Development Dimensions International and RWD for the honor.

NIIT was recognized for its work with Shell. The solution developed by NIIT enabled the worldwide adoption of standardized workflows and technology in a customized application to optimize and streamline the planning process at Shell’s Projects and Technology division. By enabling existing and new users to effectively utilize and execute the complex tasks and workflows of the application, the planning process at Shell smoothly transitioned from the traditional pattern of working in silos to a more technology enabled, efficient and collaborative process based on Shell’s core ESSA guidelines and ultimately, drive business performance and results in that area.

NIIT USA also received laurels for outstanding Client Relations at the seventh annual Human Resource Outsourcing Association's awards ceremony. For nearly a decade, the HROA Awards have been the highlight of the year and an aspiration for those in the HRO (human resources outsourcing) industry around the world.

NIIT was a finalist in the category of ‘Customer Relationship of the Year’ in recognition of its work with the world’s leading premium drinks company, London-based Diageo.

NIIT’s learning content practice has developed more than thirty e-learning modules for the Diageo. The modules have supported the learning organization in resolving key challenges and critical business issues such as reducing helpdesk costs and increasing productivity for new hires, optimization of internal processes and systems, and building a culture of workplace learning by increasing adoption rates thus building an environment of learning.

Brandon Hall Group, a preeminent research and analyst, awarded three top honors to NIIT USA in three chief categories of Performance Support, Learning, and Sales & Marketing.

“We are proud to recognize the award winners who have greatly improved the performance of their organization and have shown clear, measurable business results through these innovative programs,” said Mike Cooke, Chief Executive Officer of Brandon Hall Group, Inc.

Now in its 17th year, the awards program provides medals: Gold, Silver and Bronze, from 22 categories based upon the following criteria: fit the need, design of the program, functionality, usability, innovation, and overall measureable benefits.

“The ‘Excellence Awards’ sends a strong vote of confidence that NIIT is committed to providing the best solutions to our clients. Our mission is solely dedicated to excellence in training and development. We are extremely proud to be honored by Brandon Hall,” says Sapnesh Lalla, NIIT President and Business Unit Head.

Training Magazine Places NIIT on its Elite Top 125 List

NIIT ranks among the best at Employee Development

NIIT was placed on the prestigious Training Magazine’s Training Top 125 List, which honors companies that are unsurpassed in harnessing human capital. This is NIIT’s fourth consecutive year of making an appearance on the list.

The Top 125 ranking is determined by assessing a range of qualitative and quantitative factors, including financial investment in employee development, the scope of development programs, and how closely such development efforts are linked to business goals and objectives.

NIIT continues to be the sole training provider on this list whose entire business is training and development programs.