Ladies and gentlemen, good day and welcome to NIIT Limited Q2 and FY 2026 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. Thank you, and over to you, Mr. Thadani.
Thank you. Good afternoon. Good afternoon everyone, and welcome to NIIT Limited Q2 FY 2026 earnings call. I know it's a busy time of the year, and there are multiple companies that you are driving. For you to have the time to give your time to us and listen to us, we truly appreciate that. I will therefore now straight away get into the meat of the call. We have the main agenda point to talk about the quarter two performance and the key developments. The second is also to talk about certain specific structuring actions that have been taken or reorganization actions that have been initiated during the quarter. We will be talking about that. I have with me Mr. Pankaj Jathar, our CEO, as well as Mr. Sanjeev Bansal, our CFO, our management team, Kapil Saurabh, our Investor Relations, Mr. Sapnesh Lalla, our Non-Executive Director and CHRO, Mr.
Vijay Thadani, as well as other directors on the call, as well as present with us here. Our purpose will be to give you a quick brief and then open the floor for questions, and we'll try to use the maximum time to answer your questions. While Pankaj will give you a detailed brief, let me just set the context. The context is simple, simple terms. Operating environment remains volatile. This makes our weak hiring a cross-sec and de-emphasized sector. There are certain cuts in onboarding. There are elongated decisions at client end on training. Despite this backdrop, we have stayed the course on our planned acceleration in investments across platform, product, people, partnerships, and brands to position NIIT for durable growth. Our order intake has strengthened for the second consecutive year. Pankaj will take us through that.
We are seeing sustained consumption in our segment, as well as the demand from India enterprises. Overall, there has been very decent revenue growth, BYOY, as well as Q2. The only other thing I would like to mention is our revenue growth is on the upper end of the band in which we had guided at the end of last quarter. Pankaj will take us through these details. I will not spend more time on that, other than the fact that IMGO, our new addition to the family, has also delivered a very strong first full quarter as a part of NIIT. As I mentioned, NIIT has launched a team of evaluation for merging RPS Consulting and RSPI into NIIT Limited, which is going to take about 8 to 12 months to conclude.
That will have an impact on the simplified, more agile organization, which should help us address the needs of our customers better. I'll hand over to Pankaj to walk us through the quarter, as well as take us through the details of some of these activities, after which we will open it to our public. Over to you.
Thank you, Vijay. Good afternoon, everyone. I will read out the Q2 results, like Vijay said, in your brief update, and we will go over the questions. I will also ask Sanjeev to step in, where Vijay said he'll be the author of the results. The order intake for Q2 ended with INR 1,454 million, which was up 14% year-on-year and 37% quarter on quarter. As Vijay said, we delivered results at the top end of our guidance that we gave at the end of the last two months. Revenue for Q2 was INR 1,049 million, which is up 16% YoY and 25% QoQ. This includes INR 111 million from IMGO. Next, IMGO, the organic revenue grew 3.5% YoY and 19% QoQ.
As stated earlier, the business is in a development phase, and we are investing in scaling to capitalize on our early-mover AI advantage, as well as to gain market share. In Q2, we continued planned investments in AI, platform, product, and brand. These are strengthening competitive edge, which is visible in OI momentum, despite the volatile environment. EBITDA came in marginally positive, at roughly INR 13 million, versus expectation of negative EBITDA at the start of the quarter. This is versus INR 21 million last year and negative INR 62 million last quarter. Depreciation was roughly INR 73 million, versus INR 67 million last quarter and INR 57 million last year. Net other income was roughly INR 82 million, versus INR 179 million last quarter, simultaneously comprising treasury income of roughly INR 85 million.
The decline quarter on quarter simultaneously reflects mark-to-market loss on the fixed income investment due to volatility in interest rates. Profit after tax for the quarter was roughly INR 14 million, during an EPS of roughly INR 0.1. Vijay also talked about IMGO having joined, and they spent their first full quarter, and these are the results. First full quarter of consolidation for IMGO. As you know, IMGO is our AI-powered deep-skilling SaaS platform. The business achieved strong operating income and contract extension with key clients during the quarter. We expect IMGO to catalyze growth, open higher edge channels, and enhance our AI-first deep-skilling stack, which includes offerings like coding labs, assessments, placement automation, and talent acquisition. Let's get into the operating details.
In terms of order intake, the Q2 order intake was INR 1,454 million, INR 1,454 million, versus INR 1,274 million last year and INR 1,065 million last quarter. At an enterprise level, the order intake was INR 850 million, and at a consumer level, the order intake was INR 604 million. Price-for-life order intake was up 3% year-on-year and 59% quarter on quarter at exclusive timing. The momentum from extrinsic marketing and broader go-to-market is visible in the order intake and pipeline. Banking is seeing impact of soft hiring by investment in broad-basis customers, secondary tech jobs, which growth growth for us. In terms of business mix, enterprise revenue was INR 703 million, which is up 10% year-on-year and 22% quarter on quarter. Consumer revenue was INR 347 million, which is up 29% year-on-year and 30% quarter on quarter.
The mix is now 57/43, enterprise to consumer. Right? In terms of product mix, technology programs revenue is INR 761 million, which is year-on-year and 30% quarter on quarter. BFSI and others revenue is INR 288 million, which is year-on-year and up 14% quarter on quarter. The tech to BFSI ratio is at 73/27, versus 54/46 last year. At this point, I'd like to call Sanjeev in with progress to balance sheet and cash flow. Sanjeev, over to you.
Thank you, Pankaj. And good afternoon, everyone. On the balance sheet side, we are tracking the DSO days. We are having DSO days at 55 days, versus 66 days last year, same quarter, and 53 days in the last quarter. Q2 increased with seasonal uptake aligned to the stronger Q2 revenue growth. CapEx is INR 69 million in Q2, consistent with the investment cycle which we had. Cash and cash equivalents are at INR 646 million as per the Q2, which was INR 1,115 million last quarter. We are having the cash flow down primarily due to payment of dividend, which is INR 136 million, and investment in IMGO, INR 101 million during the quarter. Over to you, Pankaj.
Thank you, Sanjeev. Let's get a little bit into the sector's economy. GSI and GPC were both reasonably strong for Q2. They have been investing in upskilling and deep-skilling their working personnel. The marginal increase in hiring added to the increased consumption, resulting in a strong Q2 order intake and revenue growth for us, even as decision spending continued to become strong. The India enterprise segment grew on higher demand across automotive and other segments. In BFSI, a risk-off stance, elevated credit deposit ratios, emerging retail stress, and lower attrition drove preferable hiring and onboarding. This remained the top sector for us during the last quarter, and a big on the kind of investments and efforts. Go-to-market and brand expanded sales coverage across GPCs, banks, NBFCs, India exercise, and with IMGO added to the fold, universities and colleges stepped up our brand visibility and influential example.
Platform and product, RE/MAX learning platform launched deep-skilling in new age tech, integrated agentic AI to enhance learner outcomes and improve internal productivity. Our solutions added generative and agentic AI quotes, including digital coaching for banking enterprises, specific sector solutions for auto, telecom, consumer electronics. OEM partnerships, which are now 37, are strengthening our core sell and early access to tech comps. IMGO, which was closed last quarter, built an AI-first deep-skilling SaaS platform in their web and opened the higher education channels. A strong 76-plus player synergy strengthens our reach into the universities and college segments. In terms of new customers, we've added 18 new logos in the quarter across BFSI and technology, BFSI brothers and technology, also across IMGO. Let's look at the road ahead. We've seen a sustained strength of improved consumption of our differentiated and outcome-oriented products across the tech landscape, including working professionals and freshers.
Our investment pieces to spring now. Order intake, new logos, digital engagement, and pipeline are all trending positively. While we see sustained momentum in the tech and India enterprise segment, we continue to see some hesitation in BFSI and the DFI. Overall momentum has continued into Q3, and we expect stronger increase in HQ in the second half. In terms of guidance for Q3 FY 2026, we stay with a guidance of growth at 15% - 18% quarter on quarter. Q3 margins low single digits, given that we are still in the investment phase and will continue to make those investments. FY 2026 full-year revenue plus 15% - 20% year-on-year, subject to macro networking in HQ. We will reassess quarterly given the fluid environment. Medium to long-term, substantial opportunity. We remain fully committed to our strategic objectives. Our long-term potential remains high.
We are a trusted brand with 200-plus active corporate customers, and greater than 90% of our revenue is coming from retail consumers. We have a differentiated deep-skilling methodology delivered on a scalable AI-powered platform with proven outcomes. 37 OEM partnerships give us early access to cutting-edge technology. A strong balance sheet enabling continued investment in innovation and growth. Focused MVPs bring us more agile and positioned to compound through cycles. Vijay, back to you.
All right. As Pankaj has pointed out, I think we've had a very good quarter in terms of the returns that we made on investment in the previous two quarters as Pankaj has been briefing us. I think the increase, the larger sales force and the larger number of sales and marketing efforts on one hand, investments made on platforms as well as in the product portfolio or offering portfolio that you have.
I think all this has resulted in a strong order intake. Maybe we should try to give you a color of the kind of work that we have been doing before we open it for questions. I'll actually take a pause and see if there are any questions at this point of time before we proceed further.
Speakers, should I go ahead with the questions?
Go ahead. We can even summarize this later in the end.
Thank you. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and 1 on your touchtone telephone. If you wish to remove yourself from the question queue, you may press star and 2. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we'll wait for a moment while the question queue assembles. The first question comes from the line of Rahul Jain with Alt Capital. Please go ahead.
Yeah. Hi. Thanks for the opportunity. If I heard you right, Rahul mentioned the organic growth of 3.5% for the quarter. It would be great if you could repeat that number. What was the precise IMGO contribution in organic growth?
He's saying what was the organic growth and what was the contribution to the?
IMGO, as you mentioned, 111 million. Without IMGO, we were 939 million, which is 3%, 3.5%.
Organic to organic.
Organic to life.
Organic.
3.5% BYOY and 19% QoQ. Now, was that your question?
Actually, at least to me, you are sounding pretty distant. I could not hear that number. Speakers, can you come a little closer to the mic and speak? Thank you.
We are exactly where we were, and we can't come closer to the mic. Let me try to be louder. Rahul, the IMGO revenue for last quarter was INR 111 million, and NIIT organic without IMGO was INR 939 million, right? NIIT organic like-for-like growth was 3.5% YoY and 19% QoQ.
Got it. Got it.
We have had a rebound from growth, from the loss of growth that we had last time. We had orders, but we could not execute. This quarter, we could execute some of those, and I think that that's visible in the Q2 performance that you see.
Right. Also, during the quarter, we made this announcement around the reorg, simplifying the structure, the subsidiary structure, post some of these minority stake purchase. If you could articulate your thought process, what exactly you're trying to align, what could be the benefit for us in terms of cost or any other dynamics that you intend to do as part of this effort?
Okay. Let me attempt that. First, I think in the month of May, June, we announced that we are buying over the stake of ICICI Bank in the joint venture we had, which was NIIT Institute of Finance Banking & Insurance, NIIT Limited. That stake was bought because of strategic considerations. This joint venture has been on for about eight years. There were certain regulatory calls that ICICI Bank had to take. The joint venture's purpose was to make sure that we get the benefits of the know-how which ICICI Bank had in BFSI. Now that we have fully launched and our arrangements are working well, we felt that as a small entity, to have one more entity under it may not be a more productive way of having it working together.
At that time, ICICI also wanted to sell their stake in the joint venture because of certain of their share issue. That's why we first bought the equity out, after which IFBI became a 100% subsidiary. On the other hand, RPS Consulting, which we had acquired in 2021, had finished its run-off period and all other considerations and was also a 100% subsidiary. The overall size of the company is INR 450-odd crores. We felt that having two subsidiaries within it is not the most efficient way of working. There is also an opportunity for the teams to work together for a higher degree of agility, as well as working together, synergy and energy, agility. That is what led us to this decision. We have now applied for a merger of these three entities, which is beneficial to everyone, to our customers.
They are now dealing with a company, each of the companies, the sum of the three companies is larger than any one of them. Therefore, they're dealing with a stronger balance sheet, larger workforce, access to the full product and offerings line, as well as management teams. It's very good for each of the people who are engaged in it because they all are part of the overall NIIT system. It's very good for NIIT because NIIT's size increases. It's good for shareholders because simplicity of operation and agility will only contribute to faster growth. It's a clear clarity and direction in the organization. I think these are some of the many benefits that we've seen, and that's how we are going ahead with it.
The team has been fine. Yeah, hi. You had a follow-up question. Yeah.
No, sure. I was just saying, is there also any cost saving? Also, there was one exceptional item of INR 23.8 million. Is it related to this exercise? If not, then why? Thanks.
No, I think those are two different issues altogether. First of all, there will be cost savings. I mean, there is, however small or large that might be, a smaller cost of running a company and having multiple KMPs and stuff like that. All that will, I think, get heavily simplified. There is also money. There are intercompany transactions, so therefore, money gets lost in TDSs and stuff like that, which will all get simplified. I don't think there is any cost other than the cost of going through the exercise, which is basically this. The special exceptional cost that you are talking about is actually relating to, if I'm not mistaken, Sanjeev Bansal is here, he'll clarify again, is relating to a severance cost of one of the step-down subsidiaries in China, which the center was closed, and that was according to the arrangement.
To that extent, I think there was a severance cost charge which was taken to local level. That's not the law of the time.
Got it. Just one bit on the business side of it. Is there any newer initiative from a segment that we want to get into? I'm more trying to understand from a manufacturing side opportunities as well because that is where more jobs are getting created versus more reliant on the services side. Are there initiatives on those sides? Thank you.
I think Pankaj Jathar has some grand plans. We will share some of those.
Thanks, Vijay. Thanks, Rahul, for the question. We do have a plan. Like I mentioned in the briefing, we did see new customers from the India enterprise segment, which includes manufacturing companies, automobile, and other manufacturing companies. We are seeing opportunities there. Besides that, we are also seeing opportunities in the 3D space, and we are gearing up to address that opportunity as well. We have recently strengthened our teams and capabilities for that space. Over the next half of the year, we will be approaching the 3D space with more focus from both product and sales point of view. We are also focused on cybersecurity, which is, as data centers are proliferating because of AI, we are seeing a lot of opportunity for cybersecurity as well in the market. We are re-focusing on that space and building capabilities there.
These are the new segments that we are going to approach over the next half of the year and further after that.
Sure, that's it from my side. I'll come follow up in the queue. Thank you.
Thank you.
Thank you.
Next question comes from the line of Faisal Hawa with H.G. Hawa. Please go ahead.
Sure. Are we doing any progress on creating self-employment opportunities for most people who are in the software and programming industry, as a lot of this freelancing could also take place? Are we thinking in terms of those opportunities also? Can you tell us as to how this overall learning software over YouTube or AI will actually affect our business? Can we have some kind of a collaboration where we teach the software professionals how kind of software which just now most people are not trained for? How is our advertising campaign that we initiated on YouTube doing? Do we have any traction because of that?
You have many questions in one. Let's.
Can I rephrase this question?
Go ahead.
First was retraining people to become self-sufficient in software.
Yeah, or whatever you are doing to upskill, reskill in software, software professionals.
Yeah. Second was how is AI impacting the whole training area? Third, I.
No, no. The second was how is this new acquisition, your AI-powered platform, okay, what is its role, its own role, first of all, what does it do? Are there possibilities of working together and creating a larger opportunity? Did I understand you right?
Yes, sir.
All right, Rahul, go ahead.
The third is voice is very muffled. It could be because three people are sitting in the same room. It's becoming very difficult to understand the answers.
Okay. I don't think it is the problem; there is some problem with this transmission system or wherever.
No, because the moderator voice is coming extremely clear.
Yes, because the moderator is not sitting in the room. He is sitting in his center. The problem is between us and his center.
We will try to make the best of the situation.
Tell me one thing. Are you able to hear me well? Are you able to hear me well?
I can hear you, but it is extremely difficult to really understand or even hear. We will try to make the best of the situation, sir.
Okay.
Please answer.
Let me go ahead and try to answer. I'll try to speak a little louder and slower, maybe, if that helps. Your first question was on retraining the working professionals. There are two ways that we are able to approach that. One is if a software or an enterprise wants to retrain its workforce, right? That is approached through our enterprise business. We have seen some of those opportunities with large DFIs coming to us for retraining, reskilling their workforce. We have serviced those opportunities both in Q1 and Q2. The other side is the consumer business where people want to retrain themselves, right? There, we offer skill-specific programs. You could do a program on Python coding or machine learning, data science, right? These are skills that are in demand right now.
You could retrain yourself using our program and understand how to become a valued person in the data science field or the machine learning field or AI-related fields, and then either get self-employed or work with a corporate from there, right? That is how we are addressing the opportunities of reskilling in the current environment. Your second question, which is, sorry, where are you trying to take off, sir? I'll answer the second question, the first part of the second question, which is about what does our acquisition of the AI-powered SaaS platform do? They work with both universities, colleges, and enterprises. The bulk of their business is to help computer science engineers to become better coders, right? By providing an environment for doing a lot of coding practice, which is then evaluated by an AI system, which gives them feedback and helps them become better at their tasks, right?
The same service, from a different angle, is used by enterprises to evaluate people that they want to hire or to train the people that they have recently hired, right? This is their core offering. In terms of synergy, definitely, it creates opportunities for us. We have our direct-to-consumer business, which addresses a similar or an overlapping customer base as the acquisition has, right? There is an opportunity to sell more services to the same customer base. Of course, we have a large enterprise presence, and it is an opportunity for IMGO to sell their services to our enterprise base. In both of those directions, there is a lot of opportunity for synergy that could get unlocked over the next few quarters with the acquisition. Your third question was on YouTube campaigns. Actually, in the last quarter, we did have a YouTube campaign.
We launched a 4 g N IIT program, which is our flagship training program in our direct-to-consumer space. We saw a lot of success with that marketing initiative. We had views in the millions within the first few days of launching those campaigns on both YouTube and Instagram, which led to a surge in traffic to our websites and, consequently, into conversions as well. We did see a positive impact, and we are following through on that. In terms of our own YouTube channel, in the last six months, we've been focusing on that. In the last quarter, for the first time, we crossed 50,000 subscribers. It's one number still, but it's a focused effort on our YouTube channel as well. I hope that answers your question, sir.
Okay. Sir, one more thing is that can you give us a figure as to the top five courses that contribute to our revenue? Have we taken any price increases in the last financial year in those top five courses? That is one. Secondly, sir, can you also enumerate as to how many new courses we have added in the last financial years to our total offering? Thirdly, sir, we have a large cash balance or investments in our balance sheet. Do we propose to use it for any kind of buybacks or a large dividend?
Okay. Since your question comes in, now half a dozen at a time, let me answer the last one which I know. The money that we have in our books, it is a stated policy that we have kept it for growth, both organic and inorganic. You saw we recently made an acquisition, and that acquisition has a run-off structure. From that, we have paid for part of that acquisition during last quarter also. Even though the acquisition is small compared to what we normally prefer, we have an active pipeline of inorganic opportunities. As and when they materialize, we'll be sharing that with you. As far as a distribution of that amount to the shareholders, either as a buyback or dividend, I think it's a proposal that is something that we can talk to our board as we go along.
From the initial stated policy, the reason to keep that money in the books was to invest it in growth, given the strong opportunity that the company has. The fact is that opportunity is materializing also, as you can see from this quarter's results. The other two parts, I'll ask Pankaj.
Yeah. The other question was which are the best-selling programs and what we've launched in the last year. In terms of best-selling programs right now, they would be data science, machine learning, digital marketing, and GNIIT, right? In terms of what we launched, we relaunched GNIIT within the last year. We also upgraded all of these programs. Data science has been a best-selling program for the last three years maybe. Every year, we upgrade it with whatever new comes out from a technology perspective. We update the program, which is through digital marketing and machine learning as well. We are launching AI-related programs also in the near future. We currently have machine learning programs, but we are launching something that is very directly AI as well.
Sir, can you basically give us a figure whether we have taken any price increases on any of our courses in the last financial year?
Whether we've taken price increases?
Any of the courses.
I think these are different courses. I don't think there is a standard escalation thing. I have a feeling you're coming from a past when the second course would be valid for a few years. Every year, we would look at whether there's an escalation. Nowadays, the shelf life of a course is much shorter. To that extent, I think how you recollect, you repackage them, you combine them because the needs of the industry are also changing. I don't think there's any, should I say, stated policy of escalation or restagnant of fees.
Yeah. In fact, if you look at how GNIIT is, it is built in multiple stacks. You can do one stack or more stacks, and combine them in whichever way you want to as a learner. Therefore, it is more about what you're going to learn, when, and how than just the fees part of it.
Okay. Thank you very much, sir. I'll come back in the queue for more questions.
Thank you.
Thank you.
Thank you. The next question comes from the line of Aman Prakash, an individual investor. Please go ahead.
Hi. Thanks for giving me the opportunity. I just wanted to ask, like as a tech participant, I see a tremendous, you know, shortage of talent in the AI industry in India. What are the steps NIIT has already taken, or in which direction can this go? This will remain there for a while, right? I just wanted to know, like any scope for any B2B partnerships with any of the existing, like, companies that are there in the market? Thanks.
This is exactly what we do. Sorry, I didn't get your name.
Sorry?
Aman.
Okay. Aman, this is exactly what our direct-to-consumer business addresses, the shortage of tech talent in the country. We have tied up with more than 200 organizations actively where our students get placed and enter the tech industry. Our main proposition is to help students bridge the gap between formal education and what the industry needs. That is what we provide. We also help them get placed actively, working with the companies to help them recruit students from our courses.
Mr. Prakash, please go ahead with the question.
Yeah, that was the only question that I had. Thanks.
Thank you.
Thanks, Prakash.
Next question comes from the line of Kanesh Shetty, an individual investor. Please go ahead.
Sir, I appreciate your efforts in tough, tough macroeconomic conditions. Sir, I just have one suggestion or recommendation that whether we are approaching any PSU companies or defense companies where the volume is very good, and plus they need, I think, a lot of training in terms of AI and other tech-related skills. Are we approaching the PSU or government organizations for our training consumption?
Your question is, are we approaching PSUs and government organizations for our training offerings?
Yes, sir.
Yeah. We do work with select PSUs. We typically do not have any government customers. We prefer that we deal with private sector and large PSUs where the selection, purchase, and payment processes match the agility and transparency that the private sector practices. Kanesh, you are familiar. You are a very old investor of NIIT. You know the difficulties that we have had in collecting our receivables. The good news is that we collected every penny. The bad news is it took us many, many years and many, many bucket loads of blood to get that out.
Yeah. Okay, sir. I can understand that. Sir, my second question is regarding our GNIIT offering. After you know taking over IMGO, which is mostly catering into student community and universities, is there any improvement in our sales uptake as far as GNIIT is concerned? There's just a concept clarification on that.
Yes, there is an uptake of interest in GNIIT students. Are we happy with where we are? No, we definitely want to grow faster. We are seeing an increase in interest and an increase in registrations over the last six months in that space.
Yeah. Sir, my third question is regarding our other income, which is considerably low during this quarter. It is due to some mark-to-market losses. Do you expect some improvement in the quarter to come? Is there anything else to add to this?
I think this is market-driven. You understand banking and interest rates much better than any one of us do. We think there should be a correction in this quarter itself, in Q3 itself. Maybe Sanjeev, you have something more to say.
Yeah. In any case, this is an accounting entry, which is based on the mark-to-market impact on the mutual fund investment which has been made. It is actually an optional impact based on the fair valuation of mark-to-market. It will, in any case, get reversed because in the past, also, we had some gain also in the first quarter. In the future, when there is a reverse trend, then this gain will also gain from it.
In any case, as you know, no cash changed hands. No money changed hands. This is a book entry, and it's just a technical entry.
Okay, sir. Thank you very much for the answers. I wish you all the best for the future quarter. Thank you very much, sir.
Thank you.
Thank you.
Next question comes from the line of Harsh Yadav with Dolat Capital. Please go ahead.
Hi. I'm looking for more clarity on the growth outlook for FY 2026. Last quarter, you guided 15% - 20% overall and 5% - 10% organic growth for FY 2026. I may have missed it in the opening remarks.
I just needed out a data. That should be sure that we are saying the right thing. Our guidance for Q3 is 15% - 18% growth due to Q2 growth.
Yeah. YOY.
Sorry, YoY growth. The Q3 margin will remain low single digit. For FY 2026, the YoY guidance is 15% to 20%, right? We will, of course, reassess again at the end of Q3. That is the number that we are staying with.
All right. Thank you.
In other words, the 15% to 20% guidance that you heard for the year was correct. We said that at the end of last quarter. We are continuing to say it at the end of this quarter also.
Thank you.
Okay.
I'll remind you to all the participants that you may press star and 1 to ask a question. Next question comes from the line of Faisal Hawa with HG Hawa. Please go ahead.
Sir, is there any thought within the company to take up very high-end courses, which may cost very heavily, but these are skills which are very rare and where the demand is very high? Something like, you know, designing the fabs of semiconductors where we could have some tie-ups with Taiwanese companies or with cybersecurity where we could have tie-ups with companies like Palo Alto who could do a lot of outsourcing from India. How many GCCs are we talking to at this point of time for, you know, training their employees or supplying them with some employees?
Okay, more questions.
Even something to do with robotics. At least the ticket size of our courses are much higher.
Not high.
Not high.
Are much higher. Okay, I think, sorry, I understood it the other way around. You are saying that the ticket size of our courses are high. Are we looking at lower?
No, no, no.
That's what I understood also.
Okay.
Are we looking at higher? What you meant was, are we looking at higher than current courses which are higher-end and get better? You get a better fee out of that?
Yes, yes, yes.
Much higher fees.
Much, much higher fees, but they are connected to courses which are where the demand is very high, yet no one is teaching these skills. Two or three things which come to my mind immediately is designing fabs of semiconductors or even cybersecurity for mobile phones for enterprises where almost no one is teaching it. Whoever is teaching it, also the courses are very much outdated.
Right. No, sorry. Got you. The second question which you had was sectors outside of IT, or maybe that's the same context in which we're looking at semiconductors, correct? The third and the fourth question you had was, okay, let's say that these two. If you remember your next one. Go ahead, Pankaj.
We are looking and evaluating courses all the time, right? Right now, we are evaluating and launching courses in the AI space, which will be at the higher end. It's like, I mean, we would do these as a stack where you can start at the lower end, and there's an option to go very specialized and higher end. The specific examples you gave, they are niche opportunities and not really high in volume. There are still opportunities that are worth looking at. Fab kind of design courses would also involve others. Those are things we are evaluating, but we don't have any that we are launching in the near future. We are constantly evaluating those. In one of our subsidiaries, RPS Consulting, we do a lot of the higher-end courses from OEMs, right?
There are courses offered by OEM partners, which are available for individuals to do as well, and the schedule is on the RPS Consulting website. Anybody can sign up and attend the course from there. Those are higher-end and typically higher average than the B2C courses that we sell on the NIIT Limited website.
Okay, thanks a lot, sir.
Thank you. A reminder to all the participants that you may press star and 1 to ask a question. Once again, a reminder to all the participants that you may press star and 1 to ask a question.
Since there are no further questions, I will.
Yes, ladies and gentlemen, as there are no further questions, we have reached the end of the question and answer session. I would now like to hand the conference over to the management for closing comments.
Thank you very much. I think we had a very active and engaging discussion. As usual, your questions raise new opportunities and new options in our mind. We respect each one of the questions that you asked, as well as some mind-opening questions. On behalf of all of us, we thank you for your participation, your continued questioning us, and your guidance, which helps us definitely chart out a clearer strategy for the future. With this, in this busy design season, thank you very much once again for joining us. We appreciate every minute that you spend with us. Thank you and over to the operator.
Thank you. On behalf of NIIT Limited, that concludes this conference. Thank you for joining us. You may now disconnect your lines.