New Horizons on aggressive expansion
By siliconindia   |   Monday, 02 August 2004, 19:30 IST
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BANGALORE: It training company, New Horizons India, a joint venture between US-based New Horizons Worldwide and Shriram Global Technologies will invest Rs 200 crore on 250 new training centres across the country over the next three years. Announcing its expansion plans for South India on Wednesday, the company said it would spend Rs 60 crore to set up 40 centres in South India and Sri Lanka over the same time period, while also increasing its total headcount from the present 100 to 700. “We expect the southern region to contribute about 33% of our overall revenues,” Ajay Sharma, president and CEO, New Horizons India told newsmen. The model will be predominantly franchisee-led with company-owned facilities in Bangalore, Chennai and Hyderabad. As an extension of its services the company is also planning to set up a placement centre. Sharma said that the potential for IT training was immense with projections of an estimated shortage of 235,000 IT professionals in India by 2008. Presently the size of the IT training market is estimated to be Rs 1200 crore, and is expected to grow at 6% per annum. The upward trend for this industry, he added would continue up to 2009. Presently the share of the company’s corporate to retail clientele is in a 70-30 ratio, which the company plans to change to a 50-50 ratio. New Horizon is also looking at academic institutions to offer technology courses. It has already identified two in the city. It plans to increase its revenues from last fiscal’s figure of $1 million to $4 million for the current fiscal. The company’s clients include GE Cap, Bharati Cellular, Infosys and Mphasis among others.

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