Education provider Aakash hopes to complete the financial year 2023 with Rs 3,000 crore revenue hence achieving a three-fold increase since its purchase by BYJU’s, the company said on Friday. BYJU bought Aakash Educational Services Ltd (AESL) for roughly USD 950 million, or Rs 7,100 crore, in April 2021.
BYJU’S is an Indian ed-tech business that provides online learning programs for pupils from kindergarten to 12th grade. The site features video courses, interactive quizzes, and tailored learning pathways to enable students to study at their speed. BYJU’S also provides test preparation classes for competitive examinations including JEE, NEET, CAT, and IAS.
The firm has garnered great popularity in India, having over 80 million enrolled students on the website. It has also extended its influence to other nations including the UAE, the US, and the UK. BYJU’S has attracted money from renowned investors including Sequoia Capital, Tencent, and Facebook creator Mark Zuckerberg.
The success of BYJU’S may be ascribed to its unique use of technology to make learning enjoyable and effective. Its adaptive learning system guarantees that each student has a tailored learning experience, which has led to enhanced learning results.
“There is still a lot of untapped demand for test prep in India. With that in mind, we are growing our footprint throughout India’s tier 2, 3, and 4 cities to guarantee we are available to students across the nation,” Maheshwari added.
“With AESL’s continuing development in the physical and digital realms, and with its sales likely to surpass Rs 3,000 crore this year, the firm is well-positioned to retain its position as the leader in exam prep for JEE and NEET coaching in India,” the company said in a statement.
After the purchase in 2021, AESL claims that it has achieved great development, with both sales and earnings doubling throughout the time.
“Thanks to our partnership with BYJU’S, AESL has been able to add a lot of digital muscle, enabling us to go deeper into the Indian market. Today, technology is at the core of our classroom programs and, with our impeccable pedagogy built over years of research, together we have built a truly Indian brand with global reach,” AESL CEO Abhishek Maheshwari said.
The firm has launched 115 additional facilities, increasing the total number of sites to 320. AESL has about 5,700 professors and more than 4 lakh presently registered students.
“Since the acquisition, AESL has registered a 3X growth in revenue and we look forward to integrating our synergies further to reimagine education for students everywhere. Our goal is to empower every student in India with quality education. With our expansion plans and student-centric approach, we are confident that AESL will continue to broaden its horizons and lead the way in the education sector,” BYJU’s co-founder Divya Gokulnath said.
