Friday, June 6, 2008

NIIT bags order for 900 schools

NIIT, the computing machine instruction firm, said it have bagged two contracts from the Bihar and Maharashtra to supply computing machine and computer-aided education in 900 state authorities schools.

The contract, collectively deserving about Rs 71 crore, is for three old age in Bihar and five old age in Maharashtra.

The two orders won by NIIT's School Learning Business, will develop nearly 1.3 million pupils in 500 state authorities schools in Maharashtra, and 600,000 children in 400 schools in Bihar.

"We anticipate authorities to put heavily in instruction and that volition thrust demand for us. Also the private sector will play much important function in 2-3 old age to our top line," Liter Balasubramanian, president at NIIT School Learning Solutions, told deoxyribonucleic acid Money.

Balasubramanian added that NIIT is expected to apportion 1,000 employees for the undertaking along with its spouses and would begin the complete trading operations by end of June.

"It (government school business) still stays a moneymaking concern in the word form of big chance at 30,000 schools over adjacent 2 old age alone and an chance to traverse sell content," Emkay Research analyst Manik Taneja said in a short letter to clients.

Taneja said NIIT's rekindled involvement in the authorities school concern would step up competition for its equals such as as Educomp Solutions and Everonn Systems.

Taneja have a "buy" evaluation on the stock.

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