Analysts/Institutional Investor Meet/Con. Call Updates

July 27, 2026 The Manager The Manager BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Subject: Transcript of Investors/analysts Call – Unaudited Financial Results for the quarter ended June 30, 2026 Scrip Code: BSE – 500304; NSE – NIITLTD Dear Sir, Pursuant to the requirement of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Transcript of Investors/analysts Call organized on July 21, 2026 post declaration of Unaudited Financial Results of the Company (Consolidated & Standalone) for the quarter ended June 30, 2026. The same is also available on our website i.e. www.niit.com. This is for your information and records. Thanking you, Yours sincerely, For NIIT Limited Arpita B Malhotra Company Secretary & Compliance Officer Encls : a/a “NIIT Limited Q1 FY27 Earnings Conference Call” July 21, 2026 MANAGEMENT: MR. VIJAY THADANI – VICE CHAIRMAN AND MANAGING DIRECTOR – NIIT LIMITED MR. PANKAJ JATHAR – CHIEF EXECUTIVE OFFICER – NIIT LIMITED MR. SANJEEV BANSAL – CHIEF FINANCIAL OFFICER – NIIT LIMITED Page 1 of 12 NIIT Limited July 21, 2026 Moderator: Ladies and gentlemen, good day and welcome to the NIIT Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Vijay Thadani, Vice Chairman and Managing Director of NIIT Limited. Thank you, and over to you, sir. Vijay Thadani: Thank you. Good afternoon, actually good evening and welcome to NIIT Limited's Quarter 1 FY27 Earnings Call. As usual, we thank you for your interest in NIIT Limited as well as the time that you're spending today with us amongst -- in the middle of a busy results season and for joining the call and giving us your support and suggestions. Today's agenda is to discuss with you the quarter 1 FY27 performance highlights. Second, what is shaping FY27 and the actions that we are taking, our priorities and outlook. I'm happy to share that -- share with you as a start that we are starting off FY27 on a strong note, definitely stronger than same period last year. And I think it is increasingly becoming stronger as we go forward with both enterprise as well as consumer go-to-market engines showing growth in quarter 1. While technology continued to grow well from AI-led investments in skilling, we also have growth from banking, financial services and others. Order intake continued to remain strong, indicating our investments in the new AI programs as well as our go-to-market initiatives. On the profitability front, our EBITDA is moving in the right direction with our operating costs growing slower than our revenue. Just to remind that certain parts of the business have been in an investment cycle. And in quarter 1, those investments are normally higher than other quarters. With that, I'll hand you over to Pankaj Jathar, our CEO, to take you through the quarter 1 performance in detail, and then we'll open it up for question and answers. Pankaj? Pankaj Jathar: Thank you, Vijay, and good afternoon, everyone. I will cover the Q1 performance first, the revenue, order intake and business trends and then step back to talk about our priorities for the rest of FY '27. Do note that our business has seasonality, so we look at year-on-year trends rather than quarter-on-quarter. Revenue for Q1 FY '27 came in at INR957 million, which is up 14% year-on-year. Within that, enterprise revenue was at INR618 million, which is up 8% year-on-year. This was driven by enterprise tech training, which grew 16% year-on-year to INR498 million, which was as an outcome of our strategy to focus on upskilling and reskilling lateral job roles even as fresher onboarding and training remained volatile. On the consumer side, the consumer revenue was at INR339 million, which was up 27% year- on-year. Within that, consumer tech continued to see momentum, growing 15% year-on-year to Page 2 of 12 NIIT Limited July 21, 2026 INR182 million. Our direct-to-college strategy is creating a pipeline of job-ready talent, which university clients are increasingly valuing. The recovery that we see in consumer business from BFSI and others in Q4 saw further pickup in volumes in Q1 as fresher hiring picked up pace at partner banks. The strong growth in the consumer business has led to a shift in the enterprise to consumer revenue mix from 68-32 in the same period last year to 65-35 in Q1 this year. Even from a product lens, technology continued to grow well, clocking revenue of INR680 million, up 16% year-on-year. Revenue from BFSI and other programs was at INR277 million, which is up 9% year-on-year, driven by strong fresher hiring even as lateral training continued to be under pressure. Order intake in Q1 was at INR953 million. I'll now invite Sanjeev, our Chief Financial Officer to provide an update on the financials. Over to you, Sanjeev. Sanjeev Bansal: Thanks, Pankaj. So I'll take you through the financial results. EBITDA for Q1 was negative at INR14 million. This is a significant improvement from the negative INR63 million in Q1 of last year. This is driven by improved productivity and operating leverage while we continue to invest in GTM capacity and new AI offerings. As Vijay mentioned in his opening remarks, while our new top line grew by 14%, our operating expenses grew 7%, putting us back on the path to positive EBITDA margin. Below EBITDA, depreciation was at INR96 million in Q1. Net other income was INR180 million. This is primarily comprising of treasury income of INR175 million and other miscellaneous income of INR24 million. That is offset by net finance cost of INR3 million, and there are some Exceptional expenses of INR15 million, primarily because of the legacy tax matter that has now been concluded in NIIT server. And some part of the cost is pertaining to the scheme of arrangement for amalgamation of RPS and IFBI into NIIT Limited. This resulted in a PAT of INR81 million for the quarter, which is up 85% Y-o-Y and EPS of INR0.60, that is up 84% on Y-o-Y basis. Now coming to balance sheet and cash flows. Cash and cash equivalents remained strong at INR7,231 million, underpinning our ability to invest through the cycle. Capex was INR66 million for the quarter. We are past the peak on capital investment in platform in the current investment cycle, and we expect capital expenditure to moderate from there. DSO was at 53 days in Q1, which is same as last quarter. Employee count at the end of Q1 was 866, which is down 65 on a Q-o-Q basis and 19 number of people on Y-o-Y basis. Now back to Pankaj. Pankaj Jathar: Thank you, Sanjeev. Let me talk about what we are doing right now and through the rest of FY '27. We will be accelerating what is working, right? On the tech training front, AI and new logos is working. We are continuing to scale AI programs and GrowthPro offerings, which showed strong growth in FY '26, and that's where we see demand signals being the healthiest. Page 3 of 12 NIIT Limited July 21, 2026 We are continuing to expand coverage of GCCs and India enterprise companies and positioning reskilling around role evolution, particularly AI-enabled role redesign through outcome-led programs. On the BFSI side, we have been recovering, and that's the plan. Our strategy of diversifying beyond the top four private banks to a broader set of financial service players, including NBFCs and insurance companies is progressing well. In Q1 FY '27, NIIT moved beyond its banking anchor to activate four new solution lines across insurance, NBF [Showing first 8,000 characters — download PDF for full document]