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In October 2003, NIIT board approved a spin-off of its Global Solutions Business into a separate company. In May 2004, by the order of the Delhi High Court, the business was demerged into a separate entity called NIIT Technologies Ltd (NTL) with the appointed date of April 1, 2003.
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After the restructuring and spinning-off of its global solutions business, NIIT Technologies, into a new company, parent firm NIIT is no longer in the DQ Top 20. A sharper focus and a realigned business strategy ensured that NIIT Technologies had a good financial year, riding strongly on sales in the US, its major market (54% of all revenues), and earned a PAT (profit after tax) of Rs 34 crore, aside from announcing a maiden dividend of 50%. Focusing on industry verticals of finance, transport, retail and manufacturing, the company was certified at level 5 of SEI-CMMi. Major customers included ING Group, British Airways, Office Depot, Singapore Airlines, and Toyota Motors.