Education technology company, Veranda Learning Solutions Limited, a listed enterprise offering end-to-end solutions in the education space is aiming to achieve a revenue target of Rs. 600 crore in FY25. In May 2023, it acquired seven companies valued at Rs. 400 crore. At the 6th Annual General Meeting on September 27, 2024, the company approved an increased borrowing limit of up to Rs. 1,000 crores through the issuance of non-convertible debentures, bonds, or other instruments to fund its growth and expansion plans.
Company has continued to maintain robust operational and financial performance in Q1FY25 capitalising on the exciting growth opportunities. During Q1FY25, operating revenue of the company was reported at Rs. 118.99 crores, a growth of 72.69% from Rs. 68.90 crores in the same period last year. EBITDA of the company during Q1FY25 rise 5 fold to Rs. 27.61 crores, significantly up from Rs. 5.64 crores reported in the same quarter last year.
Mr. Suresh Kalpathi, Executive Director and Chairman, Veranda Learning Solutions said, “Company has continued to maintain robust operational and financial performance in Q1FY25 capitalising on the exciting growth opportunities. The spectacular growth in Q1 was despite it being a traditionally off-season period. This substantial increase highlights the company’s enhanced operational efficiency and effective execution of its strategies. We are steadfast in our goal to achieve a revenue target of Rs 600 crore in FY25, a milestone that reflects our commitment to excellence and our confidence in the sector's potential.”
Recently, Veranda HigherEd, a Veranda Learning enterprise has launched two cutting-edge short courses in partnership with the University of Technology Sydney (UTS) based in Australia for working professionals in India. Company has announced the induction of three new board members – Prof. Jitendra Kantilal Shah, Prof. Ashok Misra, and Ms. N. Alamelu – marking a significant step towards professionalizing its board with renowned leaders in education.
In August 2024, company has forayed into the Middle East through, J.K. Shah Classes. The company has partnered with Jumeira University Connect, the training arm of Jumeira University, to introduce a Chartered Accountancy (CA) preparation course for students in the UAE. Recently, Veranda XL, a subsidiary of Veranda Learning Solutions has also signed an MOU with Madras Christian College (MCC) to offer CA Training through JK Shah classes. As part of its ongoing efforts to also professionalize its executive management, company appointed Mr. Aditya Malik, as the Group Chief Operating Officer. Mr. Aditya brings over 30 years of experience in new business setup, revenue growth, sales, risk management, and global operations.
Further to strengthen its presence in Eastern India, Veranda K-12 and Cambridge are expanding their partnership to bring Cambridge educational programs to Eastern India, starting with Kolkata. This collaboration aims to integrate 500 schools into the Cambridge network, offering support with curriculum alignment, teacher training, and ongoing assistance to ensure successful implementation and performance monitoring.In a strategic partnership with Pearson. Veranda Race, a Veranda Learning enterprise plans to launch a comprehensive hybrid test prep program for India's Bank PO exam. This collaboration combines Pearson’s educational expertise with Veranda’s excellence, offering advanced learning solutions to enhance student success and career growth.
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