Mumbai: Yash Birla-led Birla Edutech is eyeing up to 15% growth in revenue in FY12 and plans to invest over Rs 100 crore for expansion in its Open Minds, Sloka Schools and ICT solutions verticals.
“Our revenue for FY11 is expected to be over Rs 180 crore and looking at the present trend, we are expecting 10-15% growth in FY12,” Birla Edutech chief executive officer Srikrishna said.
Talking about expansion, he said Birla Edutech plans to set up another seven Open Minds schools in tier-I and II cities in Andhra Pradesh, Bihar and Maharashtra with an investment of over Rs 50 crore in FY12.
“We already have three Open Minds schools and seven more are in various stages of construction,” he added.
The company is opting for a franchise mode for Open Minds -- which is for students from the middle class segment with a fee structure of Rs 50,000 per annum -- while keeping a few company-owned, Srikrishna said.
The Open Minds curriculum aims for the best practices of the NCERT National Curriculum Framework 2005 and various national and international curricula, he said,
Under another vertical, Sloka Schools, Birla Edutech plans to open 1-2 institutions, which are structured for students from a lower middle economic background with a fee structure of Rs 25,000 per annum.
The company also provides information and communications Technology (ICT) solutions to over 200 schools.
“We are targeting to provide ICT solutions to 543 tribal schools in Maharashtra in FY12 and touch a million students in 10 years’ time,” he stated.
Birla Edutech also plans to set up a super specialty college by FY14 to provide training to teachers.
“We realise that quality education is the need of the hour and we provide it through trained teachers in our institutions. However, to reach out to more children in the country, there is a need for more qualified teachers. Our super specialty college is a step toward giving the best training to teachers, who in turn will educate millions of children,” Srikrishna said.
The company has a pre-school chain, Globetotters Preschool, as well, he said.
There are about 50 pre-schools under this brand, which has a mix of localised and international-based curriculum.