Stock views on NIIT, 3iInfotech

PINC Research on 3iINFOTECH
The outlook for the fiscal year 2009 remains unchanged as current order book of Rs13.7bn provides visibility. We have estimated organic growth rates of ~15%. We believe that 3i's exposure to the BFSI vertical, a leveraged balance sheet and its ability to fund new growth would continue to be concern areas in the coming quarters.

Angel Broking on NIIT

We expect NIIT to clock a CAGR of 16.6% and 21.4% in top-line and bottom-line respectively, over FY2008-10E. Top-line growth to be driven by the ILS Business, which is expected to grow at a CAGR of 31.2% over the same period. We expect EBITDA Margins to go up to 12.3% in FY2010E as against 10.3% in FY2008, led by operating leverage in the ILS business.