InvestorQ : How is NIIT Technologies going to be different after the change in name to Coforge?
Katherine Gonsalves made post

How is NIIT Technologies going to be different after the change in name to Coforge?

Answer
user profile image
rhea Babu answered.
1 month ago


NIIT Technologies is in the process of rebranding itself as Coforge. Among its future plans are targeting to increase its revenues by 70% to $1 billion in the next couple of years nad to substantially expand its critical healthcare segment franchise.

In terms of its business plan, the company clarified that while it would continue to build on the BFSI and travel verticals, it will also expand into healthcare in a big way. NIIT will also capitalize on its capabilities in AI, cloud and data services, the new digital growth areas.

On the financial front, the company expects the revenues to grow by 7% in the second quarter and the operating profit margin to expand by 150 basis points on a sequential basis. NIIT Technologies looks to sustain 18% OPMs in its business in the medium term.

Currently, digital contributes 40% of the total revenue basket and it targets to scale up the digital basket contribution to 45%. The rebranding as Coforge was to signal faster pace of growth under its new promoters.