Press Release

• NIIT Ltd Revenues up 114% YoY
• Consolidated Net Profit up 97% YoY
• NIIT Imperia and IFBI commence operations in 6 cities
• 45% YoY growth in Engineering and IT graduate enrolments

New Delhi, January 19, 2007:

For the third quarter ending December 31, 2006, NIIT Limited posted Consolidated Net Revenues of Rs. 225.1 crore, recording a growth of 114% YoY. Global System-wide revenues stood at Rs. 297 crore, representing a 111% increase YoY.
The company’s consolidated net profit grew 97% YoY to touch Rs. 10.7 crore (up from Rs. 5.5 crore recorded in the corresponding quarter in the previous year). This has resulted in a basic EPS of Rs. 5.50 on each share of Rs. 10 for the quarter.
Commenting on NIIT Limited’s Q3 performance, NIIT Chairman Mr. Rajendra S. Pawar said, “The strategic and inorganic initiatives led to a 114% growth in revenues and 97% growth in profits.”
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
International revenues contributed 64% of the global system-wide revenues and India contributed the rest. Revenues from China operations grew by 38% YoY.
Of the global system-wide revenues of Rs. 297 crore, NIIT’s Individual Learning Business operations contributed Rs. 127.9 crore, representing a growth of 81% YoY.
During the quarter, NIIT launched Integrated ANIIT for Engineers (IAE)—a dual qualification program for engineering students and NIIT NetworkLABS—a specialised training program on Networking and Infrastructure Management.  
Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited said, “The record revenue growth in the Individual Learning Business was contributed by 45% enrolment growth in programs for Engineering and IT graduates.”
Corporate Services: Fresh Order Intake of US$ 10.8 million

The Corporate Learning Business recorded a fresh order intake of US$ 10.8 million. NIIT added ten new significant corporate customers in the quarter.
The integration process of the recently acquired Element K, a US headquartered learning solutions provider, with NIIT, has progressed well.  Element K recorded a revenue of US$ 21.34 million in the quarter and the acquisition is EPS accretive.

NIIT partnered with the Department of Income Tax to help create a pool of skilled Tax Return Preparers under the Tax Return Preparers Scheme (TRPS).  As part of the agreement, NIIT tested over 47,500 graduates across 100 locations of which 5,000 candidates were selected for a training program on Income Tax filing procedures.

Institutional Business:

The Institutional business now covers 3,906 education centres in government and private schools where NIIT’s IT and IT-assisted programs for the K-12 segment are being offered. 

Mr. P. Rajendran, Chief Operating Officer, NIIT said, “The focus on growing the institutional business led to a 39% YoY growth in revenues from private schools segment.”

The Information Technology Institute (ITI) of the Government of Egypt partnered with NIIT to help build a pool of skilled ICT professionals in Egypt.

The total number of people engaged in the company at the end of the quarter, were 3146. 

Acknowledgements

NIIT Chairman Rajendra S. Pawar was presented the Rotary Education Foundation ‘Distinguished Educationist Award’ by the then Chief Justice of India Mr. Y.K. Sabharwal in recognition of his contribution in the field of education.

NIIT was presented the Most Customer Responsive Educational Institution Award at the Economic Times – Avaya GlobalConnect Customer Responsiveness Awards 2006. 
About NIIT Limited
NIIT, Asia’s largest IT trainer, offers learning and knowledge solutions in 30 countries. At nearly US$ 250 million size, NIIT together with the recently acquired Element K, is now the first and the best choice for comprehensive learning solutions, worldwide.

Leading IT magazine Dataquest has conferred upon NIIT, the Top IT Training Company Award 2006. Rated among India’s Superbrands (2003-05), NIIT’s education offerings include: GNIIT, an industry-endorsed program for students seeking careers in the IT segments; Integrated ANIIT for Engineers (IAE)—a dual qualification program for engineering students under the NIIT Edgeineers series of training programs on advanced technologies for IT professionals and skill up gradation programs for engineering graduates. NIIT also offers a turnkey IT integration program that provides computer-based learning in 3,906 government and private schools.

In the Corporate Solutions Business, NIIT’s offerings are bolstered by its SEI CMM Level 5 assessed learning services capability. The Corporate Solutions Business offers integrated learning solutions that include strategic consulting, learning design, content development, learning delivery, learning technology services and learning administration.

NIIT’s customers include many Fortune 500 companies, universities, technology companies, training corporations and publishing houses.

* Previous period figures have been recast for comparative purposes

For more details, media may contact:
Shivanjali Singh, NIIT Limited, 85, Sector 32, Institutional Area, Gurgaon 122 001;
Ph: +91 124 4293044; 9811991107; Fax: +91 124 4293333; Email: shivanjali.singh@niit.com

Or
Amanpreet Singh, Brodeur India; Ph: +91 11 26142292; Email: asingh@brodeurindia.com

Investors may contact:
Chetna Khuller, NIIT Limited, Ph: +91 124 4293335; Fax: +91 124 4293333; Email: chetnak@niit.com

Or www.NIIT.com