Nanda Kishore, Director and CEO, Novac Technology Solutions
Novac Technology Solutions, the Chennai-based Digital Transformation and Cloud Solutions subsidiary of the Shriram Group, is expecting revenues of ₹380 crore in this financial year, up from about ₹320 crore in the last fiscal.
Speaking to businessline, NS Nanda Kishore, Director and CEO, Novac Technology Solutions, said that the company’s E-learning solutions have expanded significantly post-pandemic, with over 200 corporate clients using them to train their employees, including banks, manufacturing and pharma firms.
He added that the company’s e-learning vertical now contributes nearly 10 per cent to its overall revenue. Apart from e-learning, 65 per cent of Novac’s revenue comes from Zeva, an Enterprise Resource Planning (ERP) solution, while 30 per cent comes from Statim, an end-to-end platform for insurance firms.
Megoto, the company’s AI division launched last year, has also seen meaningful growth from initial learning projects into conversational AI, AR/VR solutions, and AI tools for finance and insurance. “We have built a learning solution for Canara Bank and have already deployed AI in call centers and internal training, with more FinTech and InsureTech use cases in progress,” Kishore said.
He added that the company is also in a phase of international expansion in West Asia and Africa while also partnering with a firm from Costa Rica to enter the US market.
In terms of its future outlook, Kishore expects Novac to grow 15-20 per cent per year every year. The company’s headcount stood at 3700, which he expects will grow 8-10 per cent per year in the coming years.
Published on December 7, 2025
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