Everonn Education Ltd will invest nearly Rs 150 crore in the current financial year to expand its footprint in virtual and technology-enabled learning solutions (ViTELS) in schools and colleges.
The Chennai-based company will use funds from internal accruals. It has Rs 100 crore in cash; a networth of Rs 520 crore in the balance sheet; and debt of Rs 200 crore, he told newspersons on the sidelines of the company's annual general meeting.
The company will also use the funds to expand the ICT in Government projects and in its subsidiaries and business development.
Everonn is also exploring the option of foraying into overseas markets with Africa being one region that has a lot of potential, he said.
The company reported consolidated net profit of Rs 68 crore on revenue of Rs 425 crore for the financial year ended March 31, 2011. It has over 10,000 points of presence across the country and touches the lives of over eight million students.