Edtech firm Schoolnet aims to grow multifold to generate Rs 6,000 crore in the next 5-7 years from expansion of services in schools and subscriber growth on its learning app.
Edtech firm Schoolnet aims to grow multifold to generate Rs 6,000 crore in the next 5-7 years from expansion of services in schools and subscriber growth on its learning app.
The 25-year old firm provides digital classrooms to around 40,000 schools at present, along with digital learning content and trains teachers, Schoolnet head of strategy Arindam Ghosh said.
The company claims to have reached a revenue of Rs 800 crore before the COVID-19 outbreak, but it came down due to the closing of schools during the lockdown.
Ghosh said the company expects to close the current financial year with a consolidated number of around Rs 400 – 450 crore if all goes well.
“There was an impact on the overall revenue during the Covid times, but we have maintained profitability even in this current year. We would be maintaining that. In long term, we are looking at revenue of Rs 6,000 crore over a 57-year horizon for which significant augmentation of resources will be required,” he said.
The company expects to onboard almost 10 lakh paid subscribers on its edtech app Geneo, which would be through schools and the retail channels.
It also aims to triple school business from its present portfolio of 40,000 schools to 1.2 lakh in the next 5-7 years, Ghosh said.
Schoolnet is planning to increase its manpower to 5,000 people to meet the growth target.
The company at present has 300 employees, which it plans to increase to about 800 people in the next one year.
“We are looking at aggressively ramping up our manpower both on the sales front as well as the technology front to about 5,000 people. Over the next 2-3 years, we are looking at around Rs 900 1,000 crore of revenue with the addition of approximately 2,000 resources,” Ghosh said.
He said out of 1.5 million schools in the country, there are around 10,00,000 plus schools that are yet to be digitised.
“There is a huge market. We will continue to work on that front both in government and private schools and parallelly leverage our relationship with our access in the schools as well as in the retail market to grow the B2C consumer-centric Edtech platform,” Ghosh said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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