NIIT

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NIIT Limited
Company type Public
BSE:  500304
NSE:  NIITLTD
Industry Higher education
Founded1981;44 years ago (1981)
Founder Rajendra S. Pawar
Vijay K. Thadani
Headquarters Gurugram, India
Key people
Rajendra Singh Pawar (Chairman)
Vijay Kumar Thadani (Vice Chairman and MD) [1]
Pankaj Jathar (CEO) [2]
Services Training and development
Vocational education
RevenueIncrease2.svg368 crore (US$44 million) (2024) [3]
Increase2.svg47 crore (US$5.6 million) (2024) [3]
Increase2.svg39 crore (US$4.6 million) (2024) [3]
Total assets Increase2.svg1,163 crore (US$140 million) (2024) [3]
Total equity Increase2.svg1,006 crore (US$120 million) (2024) [3]
Number of employees
907 (2024) [4]
Website niit.com
NIIT 40 Years Logo NIIT 40 years Logo.png
NIIT 40 Years Logo

NIIT Limited is an Indian for-profit multinational corporation headquartered in Gurgaon, India, that provides training, development, and vocational education. The company was set up in 1981 to help the nascent IT industry overcome its human resource challenges. NIIT offers training and development to individuals, enterprises and institutions.

Contents

History

NIIT was established in 1981 by Rajendra S. Pawar and Vijay K. Thadani, graduates from IIT [5] Delhi, with one million rupees. NIIT conceived a franchising model in IT education for the very first time, setting up nine centers by 1987.

The company earned the epithet, the 'McDonald's of the software business' by Far Eastern Economic Review in September, 2001. [6]

In 2014, NIIT tied up with National Skill Development Corporation to launch NIIT Yuva Jyoti centers, under the pilot phase of Prime Minister Narendra Modi's Skill India campaign and the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) in North East, J&K and Jharkhand. [7]

In May 2019, Baring Private Equity Asia had acquired controlling stake of NIIT Ltd in NIIT Technologies Ltd.

In August 2020, NIIT Technologies Ltd. rebranded itself and began operating under the name Coforge Limited. [8]

Acquisitions

In 2001, NIIT acquired Osprey Systems, [9] DEI and Click2learn in the US, [10] to establish its e-learning and corporate learning practices in that country.

In 2006, NIIT acquired Element K, a provider of learning solutions in North America. Subsequently, Element K was sold off in 2012. [11]

On October 1, 2021 NIIT announced the acquisition of a 70% stake acquisition in RPS Consulting, a Bengaluru based training company. [12]

Financial controversy

On June 9, 2022, the Securities and Exchange Board of India concluded an investigation regarding insider trading within NIIT Technologies. The investigation verified that insider trading had occurred, as a result of a corporate announcement made on behalf of NIIT on the floor of the National Stock Exchange of India on March 23, 2015. [13]

Timeline

Business units

NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.

NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business(SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Retail Sales Enablement, Digital Media Marketing, and new-age IT. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale.

See also

References

  1. "Niit Ltd". Bloomberg. Bloomberg Business. Retrieved 8 July 2015.
  2. "NIIT Ltd. Appoints Pankaj Jathar as Chief Executive Officer". NIIT. 1 July 2024. Retrieved 1 July 2024.
  3. 1 2 3 4 5 "NIIT Ltd. Consolidated Profit & Loss account, Infosys Financial Statement & Accounts". moneycontrol.com. Retrieved 14 May 2021.
  4. "NIIT Overview". 21 August 2024.
  5. "NIIT pioneered IT education in India". The Economic Times. The Economic Times. 18 November 2011. Retrieved 10 September 2015.
  6. "NIIT". Super Brands India. Retrieved 10 September 2015.
  7. "Industry exalts Govt's Skill India Campaign". India Education Review. Retrieved 10 September 2015.
  8. "NIIT Technologies is now Coforge". Coforge. Retrieved 15 September 2022.
  9. "NIIT acquires Osprey for $3 m". Ciol. 31 March 2002.
  10. "CNN.com - NIIT, Click2learn form alliance - January 23, 2002". CNN. Retrieved 29 April 2022.
  11. "NIIT sells Element K to SkillSoft for $110 mn". Business Standard India. Press Trust of India. 17 October 2011. Retrieved 29 April 2022.
  12. "NIIT acquires 70% stake in RPS Consulting for Rs 82.3 cr". The Economic Times. Retrieved 29 April 2022.
  13. "Sebi bans imposes fine in NIIT Technologies insider trading case". Business Standard India. The Economic Times. 9 June 2022. Retrieved 15 June 2022.
  14. "Academic Alliance". MMBL Cyber skills. 30 June 2009. Retrieved 16 October 2007.
  15. "Schooling for the millions in emerging information economies is the challenge of Rajendra Pawar's renewed NIIT". Forbes . 30 June 2007. Retrieved 16 October 2007.
  16. "NIIT Campus about most popular GNIIT program". 30 June 2008. Retrieved 16 October 2007.
  17. "Received ISO". NIIT. 30 June 2008. Retrieved 16 October 2007.
  18. "NIIT builds defence software for Singapore". Rediff on the net. 20 November 1997. Retrieved 16 October 2007.
  19. "IT briefs: Oracle, NIIT forge alliance". The Hindu Business Line . 8 March 2000.
  20. "NIIT teams up with Sun for iForce initiative". The Hindu Business Line . 16 June 2000. Retrieved 16 October 2007.
  21. "Award for NIIT". The Hindu . 6 June 2001. Archived from the original on 9 November 2012. Retrieved 16 October 2007.
  22. "Intel, NIIT to boost tech learning". Rediff News. 22 November 2004. Retrieved 16 October 2007.
  23. "NIIT enters management education". The Economic Times . 16 September 2006. Retrieved 16 October 2007.
  24. "NIIT ties up with Infospectrum for research solutions". Sify Business. 24 June 2008. Archived from the original on 29 October 2014. Retrieved 16 October 2007.
  25. "NIIT University Campus, a breakthrough innovation". The Economic Times . 5 April 2009. Retrieved 16 October 2007.
  26. "NIIT enters Test Preparation Market with CTET Coaching". PR Log. 30 October 2013. Retrieved 30 October 2013.
  27. "NIIT completes demerger of company". Business Line. 25 May 2013. Retrieved 24 August 2023.