Birla Edutech mulls Rs500 cr capex for education foray

Birla Edutech mulls Rs500 cr capex for education foray

Mumbai: Yash Birla Group controlled Birla Edutech Ltd on Wednesday announced its foray into the pre-school, K-12 school and super-specialty education industry and has earmarked an investment of Rs500 crore by 2012.

“We are looking at setting up pre-schools and multi-speciality colleges in different sectors like architecture, engineering and fashion designing," Yash Birla Group chairman, Yash Birla said.

“We have lined up several pre-school ventures which include our own and in partnership. We have already acquired land and are looking at a Rs100 crore investment in the first year," Birla said.

“The Group proposes to invest Rs500 crore by 2012, which will be financed through internal accruals and debt in phases," he said.

Yash Birla Group owns a CBSE school in Mumbai and a nursing college in Pilani, Rajasthan.

“The last three decades have seen an exponential change and progress in all walks of life. But unfortunately, the quality of schooling has deteriorated," Birla said, adding: “We need to bring back creativity and the joy of learning into classrooms."