Analysts/Institutional Investor Meet/Con. Call Updates

November 3, 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 and half year ended September 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 October 27, 2026 post declaration of Unaudited Financial Results of the Company (Consolidated & Standalone) for the quarter and half year ended September 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 Q2 FY27 Earnings Conference Call” October 27, 2026 MANAGEMENT: MR. RAJENDRA SINGH PAWAR – EXECUTIVE CHAIRMAN – NIIT LIMITED MR. VIJAY THADANI – MANAGING DIRECTOR AND VICE CHAIRMAN– NIIT LIMITED MR. ANISH SARKAR – CHIEF EXECUTIVE OFFICER – NIIT LIMITED MR. SAPNESH LALLA –NON-EXECUTIVE DIRECTOR – NIIT LIMITED MR. SANJEEV BANSAL – CHIEF FINANCIAL OFFICER – NIIT LIMITED MR. BIMALJEET SINGH BHASIN – CHIEF GROWTH OFFICER MR. KAPIL SAURABH – INVESTOR RELATIONS AND M&A – NIIT LIMITED MR. UMESH GOLA – BUSINESS FINANCE HEAD – NIIT LIMITED Page 1 of 12 NIIT Limited October 27, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the NIIT Limited Q2 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 the 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, NIIT Limited. Thank you, and over to you, sir. Vijay Thadani: Thank you. Good evening, and welcome to NIIT Limited's quarter 2 FY27 Earnings Call. First of all, I thank you for your interest in NIIT and for joining the call today. It's a busy results season. And for you to have joined this call versus many other opportunities you had, we truly appreciate. I'm looking forward to a very active participation from you and also your questions, which, as usual, have been extremely educated and help us sharpen our strategy. Before I get into our quarter 2 financial performance, let me introduce you all to our new CEO, Anish Sarkar, who took over from Pankaj earlier this month. Before joining NIIT, Anish was Managing Director, India and Director of India, Philippines and Indonesia cluster at Pluxee, formerly Sodexo BRS. Before that, he was CEO of Mercer India. In both roles, he delivered strong revenue growth and portfolio expansion, including through strategic acquisitions. Earlier than that, he spent several years at Capgemini Group in senior leadership roles across management consulting, sales and technology transformation. Anish is an alumnus of IIT Kharagpur and IIM Calcutta. Before I get into the results, I'll invite Anish to say a few words. Anish, over to you. Anish Sarkar: Thank you, Vijay, and good afternoon, good evening to everyone on the call. First, I must say that I'm both delighted and privileged to be here with you all and to have joined NIIT at this very pivotal point in the journey of this great organization. It's been just about a couple of weeks, actually slightly less for me so far, and I have, during this time, spent time with our leadership team, our sales and delivery teams to understand more about our business, our market, our right to win and differentiators, etcetera, and a few clients already so far. Now a few things are quite clear to me. Firstly, the strength of the brand of the NIIT brand. It is, of course, an institution. Clients trust us. And I'm quite amazed to see that many have worked with us for years, if not decades. And that depth of relationship is actually rare and it's a great asset for us. Secondly, the quality of our people, our deep skilling methodology, which has consistently been delivering outcomes for learners and clients for several decades. Third, the size of the opportunity in front of us. I think AI is reshaping how every enterprise works, and that is driving demand for new skills at every level. In fact, it is driving a degree of talent transformation, which is probably unprecedented in a very long while. We are already Page 2 of 12 NIIT Limited October 27, 2026 seeing this in the rapid growth of our AI programs and the early traction of our GenAI sales programs as well. Over the coming weeks, I will be working further with our leadership team and the larger teams to work on a more detailed review of our portfolio, our market segments that we operate in, our go-to-market strategy and our cost and operation structure as well with a specific focus also on where AI can create the most value for our clients and for NIIT. We are, by the way, at the beginning of our planning cycle for the year, so it's a good time for me to also reflect on the future and our plan and see how this can dovetail into the overall planning exercise for the organization. With that, I will stop. Thank you, and I look forward to engaging with all of you today and in the quarters to come. Back to Vijay. Vijay Thadani: Thanks, Anish. Just to mention here that I'm joined here today by the whole management team at the corporate headquarters. I have the Chairman, Mr. Pawar. I also have Sapnesh Lalla, the former CEO as well as now a Non-Executive Director on the Board and as well as the CFO, Sanjeev Bansal. I also have Bimaljeet Singh Bhasin, who has recently joined us as Chief Growth Officer for which we had sent out a separate communication, then Kapil Saurabh from M&A and Investor Relations; and Umesh who is the Business Finance Head. We will all seek to answer all the questions that you have. And what I would start is by taking you through the performance in quarter 2. I also want to talk about the fact that Anish has come in at a very interesting time as we will go through the results and maybe I'll cover that in the end as to how his past experience will be extremely useful in shaping our future strategy, and it's a timely intervention or timely joining that he has, and I think we are looking for exciting times together. So let's dive into our quarter 2 numbers. Revenue in quarter 2 of FY27 was INR982 million, which was down 6% Y-o-Y, but up 3% Q-o-Q. For H1 FY27, revenue was up to INR1,939 million, which is up 3% Y-o-Y. This is lower than the projections that we had shared with you. In quarter 1, we were on the projection, in fact, slightly ahead. In quarter 2, there have been setbacks and I'll be talking to you about that. The quarter 2 performance was driven by a quarter-on-quarter compression of consumption by GSI clients specifically in a quarter where spending is traditionally higher. If you see the pattern over the last many quarters and especially the quarter 1 and quarter 2 of every financial year, we have a significant spend and consumption of training by GSIs. Specifically, consumption from 4 of our largest clients, GSI clients, alone was down by as high as INR100 million Y-o-Y in quarter 2. This was contrary to a significant growth that we had seen in quarter 1. This compression in spend in a certain sense, was secular across some of these large clients, and there are many theories to it, but one of them could be that they had lower numbers of onboarding, but more significantly, they had significant resources in-house and under the cost- Page 3 of 12 NIIT Limited October 27, 2026 cutting pressures, [Showing first 8,000 characters — download PDF for full document]