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videos | IST

NIIT holding on to FY22 growth guidance of 15%, optimistic about closing acquisition this fiscal

Edtech sector is in focus at this time and a lot of investments are going into the space. CNBC-TV18 caught up with Sapnesh Lalla, CEO & Executive Director, NIIT Ltd,  to get a clear picture of the outlook for the space and NIIT in particular.
Lalla said the company will hold on to the growth guidance of 15 percent for FY22.
“The guidance that we provided with our quarter one results is a good guidance, and we are staying with it. We might improve it as time goes on and if conditions were to change, but at this time, the guidance that we provided with our q1 results holds.”
He further added that while there are a number of disruptions that are going on, there is a fair bit of uncertainty as well in the market.
“Last quarter, the uncertainty played in favour of us and we had exceptionally good results because a number of things came together. But I would point out that there is still a fair bit of uncertainty with our customers with the fear of the next wave coming on both in North America, Europe. Organisations are again a little bit more uncertain than they were just a few months again,” said Lalla.
When asked about consolidation and acquisitions, he said the company currently has a significant amount of cash on the balance sheet.
“We are continuously looking at acquisition targets, we have a few conversations going on ourselves. But we are quite pragmatic in our choices. We try to make judicious choices, rather than go with the herd and that's how we've been all along and we will continue to be like that all along. It is hard to tell for me whether we would be up for sale or not, that is really for the NIIT board to decide," he said.
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"In terms of being acquisitive, we are in a few conversations and as soon as we have something material to report, we would let you know," said Lalla. He is also optimistic about closing potential acquisition this financial.
Lalla said the cash on the books currently stands above Rs 1000 crore.
For the full interview, watch the video