Veranda Learning Solutions Targets Rs 600 cr Revenue in FY25

Mumbai, Oct 28 (PTI) Ed-tech firm Veranda Learning Solutions Ltd is aiming to achieve a revenue of Rs 600 crore this fiscal bolstered by acquisitions and tie-ups with foreign educational institutes, according to a senior company official.

The company said that the inorganic growth has been helping it expand rapidly in the fast-growing domestic ed-tech space.

Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions said that the company has continued to maintain robust operational and financial performance in FY25 capitalising on the exciting growth opportunities.

"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," Kalpathi said.

He said the recent acquisitions and tie-ups with foreign institutes will drive growth for the company.

At the group level, Veranda has seen a spate tie-ups and collaborations in the recent past.

These include Veranda HigherEd, a Veranda Learning enterprise launching two short courses in partnership with the Australia-based University of Technology Sydney (UTS) for working professionals in India.

The company has also forayed into the Middle East markets through the Mumbai-headquartered education institution JK Shah Classes. The company has partnered with Jumeira University Connect, the training arm of Jumeira University of Dubai to introduce a Chartered Accountancy (CA) preparation course for students in the UAE.

Besides this, Veranda XL, a subsidiary of Veranda Learning Solutions has also signed an initial pact with Madras Christian College (MCC) to offer CA Training through JK Shah classes.

Last month, its board approved increasing borrowing limit up to Rs1,000 crore through the issuance of non-convertible debentures, bonds, or other instruments to fund its growth and expansion plans.

The company in May 2023 acquired seven companies valued at Rs 400 crore. It reported a revenue of Rs 370.01 crore in 2023-24.