365Telugu.com online news,Chennai, October 31st, 2024 : Veranda Learning Solutions Ltd., a key player in the education technology sector, is setting its sights on achieving a substantial revenue goal of Rs. 600 crore by FY25. Known for delivering end-to-end education solutions, Veranda has gained momentum by expanding through strategic acquisitions and partnerships since its inception in 2018 under the Kalpathi AGS Group, which holds a 55% stake in the company.
During its 6th Annual General Meeting on September 27, 2024, Veranda’s board approved a borrowing limit increase, allowing for up to Rs. 1,000 crore through non-convertible debentures, bonds, and other instruments. This move is geared toward funding the company’s ambitious growth and expansion agenda.
Q1FY25 Financial Highlights
Veranda showcased solid performance in Q1FY25, with an operating revenue of Rs. 118.99 crore, reflecting a 72.69% increase over the previous year. The company’s EBITDA surged fivefold to Rs. 27.61 crore, significantly outperforming the Rs. 5.64 crore reported in Q1FY24.
Mr. Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, shared, “Our robust growth in Q1, traditionally an off-season period, underscores our commitment to excellence and our confidence in achieving our revenue target of Rs. 600 crore by FY25.”
Key Initiatives and Partnerships
Launch of Veranda HigherEd Courses: Veranda HigherEd, a Veranda subsidiary, has recently introduced two specialized short courses in collaboration with the University of Technology Sydney (UTS) in Australia. These courses in Digital & Social Media Marketing and Business Analytics cater to working professionals in India, equipping them with essential skills for the modern business environment.
Strengthened Leadership Team: Veranda has welcomed three distinguished education leaders to its board: Prof. Jitendra Kantilal Shah, Prof. Ashok Misra, and Ms. N. Alamelu. Prof. Shah, founder of JK Shah Classes, has a longstanding history of preparing students for CA, CS, CMA, and CFA qualifications. Prof. Misra, former IIT Bombay Director, brings a unique blend of academic and industry expertise, while Ms. Alamelu, with her vast educational background, reinforces Veranda’s dedication to innovation in learning.
Expansion into the Middle East: In August 2024, Veranda marked its entry into the Middle East through a partnership with Jumeira University Connect in the UAE. Through JK Shah Classes, Veranda introduced a Chartered Accountancy (CA) prep course tailored for UAE students, integrating global best practices with local relevance.
New Executive Appointments: To strengthen its operational efficiency, Veranda has appointed Mr. Aditya Malik as Group Chief Operating Officer. Mr. Malik, a seasoned entrepreneur with over 30 years of expertise, previously founded the EdTech company Talentedge and served as a Senior Partner at Lumis Partners.
Strategic Partnerships: In another key collaboration, Veranda XL has joined forces with Madras Christian College (MCC) to offer CA training through JK Shah Classes. This partnership aims to deliver high-quality CA curriculum to students, focusing on essential skills in accounting, auditing, and finance.
Cambridge Program Expansion: Veranda is expanding its K-12 segment in Eastern India by partnering with Cambridge to integrate their educational programs into 500 schools, starting in Kolkata. The initiative will support curriculum alignment, teacher training, and performance monitoring.
Hybrid Test Prep with Pearson: Through Veranda Race, a new partnership with Pearson will deliver an advanced hybrid preparation program for India’s Bank PO exams. This collaboration merges Pearson’s educational strengths with Veranda’s instructional excellence, designed to enhance career growth and success for aspiring students.
Consistent Student Engagement
In FY24, Veranda trained 6,93,874 students and added 113,262 students in Q1FY25 alone. This growth aligns with Veranda’s expanding footprint in the education sector, providing skill-enhancing programs and training for thousands across the country.
Veranda Learning Solutions continues to build on its growth trajectory with strategic decisions, innovative partnerships, and a commitment to providing cutting-edge educational solutions tailored to diverse learning needs and professional goals.