Extramarks aims to double revenue to Rs 1,000 crore this fiscal
The company in February launched a teaching app for teachers to target the home tuition segment on which it aims to onboard 10 lakh educators by March 2023.
By Prasoon Srivastava
Ed-tech firm Extramarks aims to double its revenue to around Rs 1,000 crore in the current fiscal with the expansion of its portfolio for all-round development of children, a top company official said.
According to Ritvik Kulshrestha, chief executive officer, Extramarks Education, the company is expanding its portfolio to cover the entire spectrum of child development, from school education to tuition to sports and preparatory exams for NEET and IIT-JEE.
Founded in 2007, Extramarks has been creating animated content for education since 2009 and has been selling the offering to schools. Kulshrestha added that the availability of a content library and familiarity among children about the company helped its digital platform expand quickly during the pandemic.
The company in February launched a teaching app for teachers to target the home tuition segment on which it aims to onboard 10 lakh educators by March 2023. “Owing to Extramarks’ plans to scale up marketing initiatives, expand sales and marketing teams, and capitalise on the new The Teaching app as well as Arsenal partnership, our projected growth rate would be at least two times and we plan to close the financial year ending March 2023 at Rs 1,000 crore,” Kulshrestha said.
The company has partnered with Arsenal Football Club for Extramarks Experiences. Under the partnership, the edtech firm will gain access to Arsenal coaching staff and players who will hold seminars on various in-classroom or on-field topics.
Extramarks started providing its own LED screens with pre-loaded educational content in 2009. The company now claims to have screens installed in over 16,000 schools, out of which over 12,000 are private schools and the rest government-owned.
“The next thing that we set towards was the holistic development of a child. That is where we launched Extramarks Experiences. Everything other than education falls under Extramarks Experiences.
“Now we have covered the entire journey of a child. So educational, and even extracurriculars, we want to provide help to the child through Extramarks Experiences,” Kulshrestha added.
He further mentioned the company is now looking to increase its sales team and enhance investment in product development. The company at present claims to have over 2,000 sales professionals and 700 people in technology and academic teams.
Kulshrestha said the company turned profitable in the last fiscal but the situation may be different in the current financial year as it needs to enhance its marketing budget.
“With schools reopening, we will restart marketing and outreach programs on a large scale for heightened brand awareness — as the preferred ed-tech partner for schools in India (including students and teachers) and deepen our market penetration through the B2B2C model,” Kulshrestha said.
Last Updated on May 29, 2024
