The Business Bytes
Chennai, November 1, 2024 (TBB Bureau): Education technology company Veranda Learning Solutions Limited, a listed provider of end-to-end solutions in the education space, has set a revenue target of Rs. 600 crore for FY25. Founded in 2018 by the Kalpathi AGS Group, which holds a 55% stake, the company has expanded rapidly through strategic acquisitions. In May 2023, it acquired seven companies valued at Rs. 400 crore. At its 6th Annual General Meeting on September 27, 2024, Veranda approved an increased borrowing limit of up to Rs. 1,000 crore through non-convertible debentures, bonds, or other instruments to support its growth and expansion plans.
Veranda’s operational and financial performance remained robust in Q1 FY25, capitalizing on significant growth opportunities. The company reported operating revenue of Rs. 118.99 crore for Q1 FY25, marking a 72.69% increase from Rs. 68.90 crore in the same period last year. EBITDA rose five-fold to Rs. 27.61 crore, up from Rs. 5.64 crore in Q1 FY24.
Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, commented, “The company has maintained strong operational and financial performance in Q1 FY25, capitalizing on the growth opportunities available. This substantial increase in revenue and EBITDA, even during a traditionally off-season period, underscores our enhanced operational efficiency and effective strategy execution. We are committed to achieving our Rs. 600 crore revenue target for FY25, a milestone that reflects our confidence in the sector’s potential.”
In recent developments, Veranda HigherEd, a Veranda Learning enterprise, launched two specialized short courses for working professionals in India in collaboration with the University of Technology Sydney (UTS), Australia. The offerings include courses in Digital and Social Media Marketing and Business Analytics, aimed at equipping professionals with essential skills for the evolving business landscape.
Additionally, with the recent board additions of Prof. J.K. Shah, Prof. Ashok Misra, and N. Alamelu, Veranda has reinforced its commitment to world-class education and sector innovation. “This expansion will further strengthen Veranda’s position as a leader in educational transformation,” added Mr. Kalpathi.
To enhance its presence in Eastern India, Veranda K-12 is expanding its partnership with Cambridge to bring Cambridge educational programs to the region, starting with Kolkata. The initiative aims to integrate 500 schools into the Cambridge network, providing curriculum alignment, teacher training, and ongoing support for performance monitoring.
In a strategic collaboration with Pearson, Veranda Race, another Veranda Learning enterprise, plans to launch a hybrid test prep program for India’s Bank PO exams. This partnership merges Pearson’s educational expertise with Veranda’s capabilities to offer advanced learning solutions, ultimately enhancing student success and career growth.
