Mumbai, May 7The 3,000-crore Yash Birla group has plans to set up 200 schools across the country within the next two years.
Armed with an initial investment of $5 million, the group will establish schools in a phased manner through its BSE-listed group entity Birla Shloka Edutech.
The firm will focus on core education ranging from preschool, school till higher education (UG/PG and research), Mr Yash Birla, Chairman of the Yash Birla Group, told Business Line over e-mail
“The company will be working on a partnership model, where the other partner will invest in infrastructure while Birla Edutech (along with partners) will jointly implement the project,” said Mr Birla. However, Mr Birla did not provide details on the overall investments for this project. The pre-school initiative has been christened ‘Globe Trotters’.
Birla Shloka Edutech is planning to open two of its own schools in Mumbai from academic year 2009-10. The company plans to enter all four zones (of the country) in various phases. It will close partnership engagements for about 50 schools in fiscal 2009-10, primarily from West India and South India, added Mr Birla.
Each school will have approximately 75,000 sq ft built-up area on a minimum three-acre land piece. However, the specification could change based on location.
The education industry in India is now seeing a lot of interest from organised players as it is being touted as recession resistant. Late last year, the Yash Birla group company was renamed Birla Shloka Edutech from Shloka Infotech. The BSE-listed company’s authorised share capital was increased to Rs 30 crore from Rs 10 crore.