NIIT in revamp mode, targets Rs 100 b. by 2006

MUMBAI: Indian software and computer education firm NIIT Ltd. is reorganizing

its operating structure, which it hopes will generate an eight-fold increase in

turnover to Rs 100 billion by 2006, the Bombay exchange said on Monday.

According to the new structure, NIIT will operate as independent business

units (IBU) and each unit head will be accountable to the NIIT board for

strategy, targets and performance, the exchange said quoting a company

statement.

The global learning and software businesses will have four IBUs - education

and training, software solutions, knowledge solutions and Project K12, which

deals with information technology education for school children.

"The goal is to let each independent IBU within NIIT imbibe key

imperatives of the new economy that demand nimble, flexible units capable of

adapting quickly to changing times," the statement quoted chairman Rajendra

Pawar as saying.

The company will also have a corporate center which will pursue NIIT's

long-term strategies, it said.

NIIT and its subsidiaries together posted a turnover of Rs 12.37 billion in

1999-2000 (October-September).

At 1:50 p.m. (0820 GMT) NIIT shares were up Rs 27.15 at Rs 1,625 while the

Bombay exchange index was up 0.58 per cent at 3,928.54.

(C) Reuters Limited 2000.