NIIT Technologies Ltd 3rd Quarter 2005 consolidated results

Company release, January 24, 2005

New Delhi

For the third quarter ending December 31, 2004, NIIT Technologies Limited,the global IT solutions company, reported a 133% YoY increase in its Net Profit to Rs 13.3 Crores. The company''s Operating Profits for the quarter grew by 60% to Rs 25.1 Crores, resulting in an Operating Margin of 18%.

It reported consolidated revenues of Rs 141.2 Crores, reflecting a 12% growth on a YoY basis.

Commenting on the improved financial performance of the company, Mr. Rajendra S Pawar, Chairman, NIIT Technologies Limited said, ''With 133% YoY increase in net profit this quarter, we have seen strong profit growth in all three quarters of this year.''

Of the total revenues of Rs 141.2 Crores, Americas contributed 35%, Europe brought in 42% and Rest Of the World 23%.

The pending order book at the end of the third quarter stood at USD 145 million, of which USD 67 million is executable over the next 12 months.

Talking about the business, Mr. Arvind Thakur, CEO, NIIT Technologies Limited said, ''We continued to get good traction in the industry verticals that we focus on. Revenues in three focused verticals--Financial, Transportation and Retail--grew to 62% of our overall revenues.''

The results were taken on record at the meeting of the Board of Directors of NIIT Technologies Limited here today.

Capacity Expansion

NIIT Technologies is building an additional 200-person software development centre in Delhi. NIIT Technologies'' BPO subsidiary, NIIT SmartServe is setting up an additional development facility in Gurgaon.

Acknowledgments

The company bagged prestigious recognitions during the quarter:

The Superbrands Council ranked NIIT Technologies as a Business Superbrand in the very first listing of the most reputed corporate brands in India

At the recent HT Power Jobs Awards for HR excellence, NIIT Technologies was recognized for its Innovative HR practices.

NIIT SmartServe ranked among top ten ITES companies in terms of employee satisfaction as per a Dataquest-IDC BPO e-Sat (employee satisfaction)

Survey.

About NIIT Technologies Limited

NIIT Technologies is a leading ICT solutions organisation, servicing customers in Asia Pacific, Europe, India, Japan and the USA. Its services include Custom Software Development and Maintenance, Legacy Maintenance & Modernization, Enterprise Integration and Business Process Management.

The company specializes in providing solutions to customers in the Financial, Transportation and Retail verticals.

NIIT Technologies'' subsidiaries NIIT SmartServe Limited and NIIT GIS Limited offer Business Process Management and GIS Solutions, respectively.

Its major global customers include British Airways, Channel 4, ING Group, Office Depot, SEI Investments, Singapore Airlines and Toyota Motors.

NIIT Technologies follows global standards of processes, including an ISO 9001:2000 certification from BVQI, UK and assessment at Level 5 of SEI-CMMi framework.

For media queries, please contact:

Sanjiv Kataria, NIIT Technologies Limited, Ph: +91 11 26203344, Fax:

26203386, Email: sanjivk@niit.com

Or Nidhi Aggarwal, NIIT Technologies Limited, Ph: +91 11 26203192, Email:

nidhia@niit.com

Or Visit www.niit.com