Education support services firm Edserv today announced a partnership with Aircel, under which subscribers of the telecom operator will be able to access educational content on their mobiles.
The company is eyeing revenues of Rs 40 crore in the next year through this agreement and expects 2 million students to access educational content through its application 'HumThum', EdServ said in a statement.
"Aircel has over 50 million subscribers across the country. At a conservative estimate of just 5% of this subscriber base, we will be able to add over 2 million new users to our lampsglow.Com content. We are targeting revenues of Rs 40 crore annually beginning next year," Edserv Chairman and CEO S Giridharan said.
Edserv had recently signed a similar agreement with Tata Docomo for their 'Tutor on Mobile' service.
Further, the company said it aiming to have one crore subscribers from the mobile segment over the next 2-3 years and achieve revenues of Rs 170-180 crore by the end of next financial year.
"Over the last quarter, we have tied up with Nokia, Samsung and Blackberry smart phones for expanding our offerings in the mobile segment.
"We have a strong pipeline for the rest of the year. Our target is to achieve revenues of Rs 170-180 crore and net profit of about 30% on the top line. The company is targeting an EPS (Earnings per share) of Rs 25 for the year ending 31st March 2012," Giridharan said.
Edserv plans to take the acquisition route for expansion and is hopeful of closing a deal in the second half of current financial year.
"We are also looking at acquisitions to strengthen and consolidate our presence in the Test Prep education market. We may be able to close out one of the acquisitions during the 2nd half of the year. These acquisitions will also help the company achieve the targeted performance," Giridharan added.