EdServ Softsystems Ltd has inked a deal with CAClubIndia.com, the online platform for financial professionals, to deliver coaching content to its 6 lakh students.
With this deal, the Chennai-based education support services company aims to expand reach in the Rs 2,000-crore CA training market.
EdServ, which had earlier entered into a joint venture with another Chennai-based institute to offer online CA coaching services, hopes to generate an income of about Rs 200 crore from all its CA coaching services.
In a communication to the stock exchanges, EdServ said that under the agreement, CAClubIndia.com will deliver EdServ’s CA coaching content to the 6 lakh students and EdServ would offer training in Web-based mode at affordable cost compared to contact classes/class room based coaching. It would also provide online access to expert classroom videos and assessments to CA aspirants. All papers would be covered through Web based lectures as recorded in live class rooms.
In FY2011, EdServ's revenues were Rs 122 crore and net profit was at Rs 41 crore, the company said in its filing with the stock exchanges.