NIIT Tech to boost rev from travel, retail, fin svcs

MUMBAI (Reuters) - Software services firm NIIT Technologies Ltd intends to push up revenues from its travel, financial services and retail sectors to over 90 percent from 80 percent now, a top official said on Friday.

"We have to push this over 90 percent," Chief Executive Officer Arvind Thakur told Reuters, referring to the revenues from the three segments. He did not however specify a timeframe for this.

Banking, financial services and insurance (BFSI) accounted for about 42 percent of revenues, with insurance itself contributing 28 percent.

"We are seeing a slowdown in the BFSI segment due to the current global turmoil in the sector," Thakur said, adding this would have to be made up by growth in travel and retail segmentS.

Earlier in the day the company said it won a 3-year multi-million-pound deal from British Airways for support nd testing of the airline's business critical applications.

Three days back NIIT Tech had won a contract from Cathay Pacific Airways for the development of a warehouse operating system for its new cargo terminal at Hong Kong International Airport.

"We are sharply focussed on the travel and transport segment and these wins have positioned us well and given us good visibility," Thakur said, adding it would add to the revenues from this segment.

It gets about 28 percent of its revenues from the travel and transport segment, where it has more than 50 clients, of which 30 are airlines.

Shares in NIIT Tech closed more than 2 percent lower at 92.85 rupees on the BSE which was down 3.3 percent.