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SatNav in pact for pre-school chain
Our Bureau
Hyderabad
March 28
SatNav Group has launched Sunshine, a pre-school and daycare chain in association with the UK-based Centre for British Teachers (CfBT) Education Trust.
Christened as SatNav Preschool Pvt Ltd, the joint venture would have 25 schools over the next one year, Mr Amit Kishore Prasad, Managing Director and CEO, SatNav Technologies, told newspersons here today.
"We think that pre-school and daycare segment is set for major growth in view of the large number of working population in the country. We are also in talks with corporates to set up Sunshine centres in and around their premises,'' Mr Amit Prasad said.
The partnership with CfBT is based on a profit-sharing model. "We are very bullish and hope to achieve Rs 100 crore cumulative revenues over next five years when we may prefer to go public. CfBT would be an equity partner in the future,'' he added.
SatNav has lined up investment of Rs 5 crore during the year for expansion and targets to set up over 100 self-managed centres by 2009 with a total investment of Rs 25 crore.
SatNav, which runs three pre-school centres here, also plans to expand its presence to eight cities in the country, including the metros.
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