Chennai, India – November 4, 2024 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.
Founded in 2018 by the Kalpathi AGS Group, holds around 55%n the company. Company has expanded rapidly through acquisitions. 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.
Highlights:-
· In Q1FY25, company’s operating revenue reported at Rs. 118.99 crore with 72.69%; EBITDA reported 5-fold growth to Rs. 27.61 crore
· Veranda HigherEdhas recently launched two cutting-edge short courses in partnership with the University of Technology Sydney (UTS), Australia
· The company has strengthen its board with the addition of esteemed education leaders, including Prof. Jitendra Kantilal Shah, Prof. Ashok Misra, and Ms. N. Alamelu.
· Forayed into Middle East and partnered with Jumeira University Connect to launch CA Preparation Course in the UAE
· Appointed Mr. Aditya Malik, as the Group Chief Operating Officer.
· In May 2023, company acquired seven companies valued at Rs. 400 crore
· Veranda Group trained 6,93,874 students in FY24; In Q1FY25 trained 113,262 students
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. The offerings include courses in Digital and Social Media Marketing and Business Analytics, designed to equip professionals with the skills needed to thrive in today’s dynamic business environment.
Company has announced the induction of three new board members– Prof. Jitendra Kantilal Shah, Prof. Ashok Misra, and Ms. N. Alamelu – marking a significant steptowards professionalizing its board with renowned leaders in education.Prof. Jitendra Kantilal Shah, the founder of JK Shah Classes, has been a pioneering force in the fieldof education for over 40 years. JK Shah Classes, has successfully coached aspirantsfor CA, CS, CMA, and CFA qualifications, shaping the careers of thousands of professionals acrossIndia.
Prof. Ashok Misra, former Director of IIT Bombay and Distinguished Professor at IISc Bengaluru, brings a powerful blend of academic and industry expertise to Veranda’s board. With board experience at Reliance Industries, NTPC, and Kirloskar Electric, his dual background positions him as a key figure in shaping Veranda’s future.
“The recent expansion with Prof. J.K. Shah, Prof. AshokMisra, and Ms. N. Alamelujoining Veranda Learning Solutions board will further reinforcecompany’s commitment to providingworld-class education and ensuring we remain at the forefront of innovation and quality in this sector and transforming the educational landscape,” said Mr. Suresh Kalpathi.
In August 2024, companyhas 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. The curriculum has been designed to align with the specific educational needs and cultural context of students in the UAE, ensuring a comprehensive learning experience that combines global best practices with local relevance.
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. Through this partnership, JK Shah Classes (JKSC) will deliver a world-class CA curriculum, equipping students with comprehensive knowledge and practical skills in accounting, auditing, and finance.
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. He is presently the CEO of Veranda HigherEd, one of the leading new age, tech driven interactive education companies.A successful tech entrepreneur, Mr. Aditya founded the EdTech company Talentedge and was a Senior Partner at Lumis Partners, a private equity fund, before joining Veranda.
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 Learningenterpriseplans 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.
About Veranda Learning Solutions
Established in 2018 by the Kalpathi AGS Group, Veranda Learning Solutions Limited has rapidlyevolved into a prominent, publicly listed education company. With a strong foothold in the academicsector, managing both schools and colleges, as well as in test preparation, vocational training, andsoftware upskilling, Veranda has significantly expanded its reach and impact. The company’splatform integrates advanced technology, robust processes, and innovative methodologies to deliverhigh- quality, personalized learning experiences to students nationwide. Committed to drivingstudent success and achieving outstanding academic outcomes, Veranda employs a multi-modaldelivery system supported by a disciplined and comprehensive learning framework.
For moreinformation, please visit www.verandalearning.com
