TIME plans to open 20 more coaching centres

Hyderabad-based Triumphant Institute of Management Education Private Limited (TIME), a premiere training, education and professional coaching institute, plans to open 15 to 20 coaching centres in 12 new locations during the current calendar year.

Speaking to Business Standard, Manek N Daruvala, founder director of TIME, said, "During the current calendar year our focus is to get into new locations where the institute does not have a presence and also introduce some new training courses."

TIME currently has 90 centres in 60 cities, out of which 65 offices and centres are franchises while 25 are directly managed by the institute. TIME, in the last one month, has opened new offices and centres in Nagpur, Bhopal, Faridabad and Gaziabad.

According to Daruvala, the total investment required for the expansion would be around Rs 1 crore, which would be raised from internal accruals.

The company is also considering having a centre in China by March 2006. "From the information we have, China offers huge training potential for GRE and English courses. But we have to go there and do the ground work before we open the office," he said.

TIME, known for several entrance and qualifying exams including CAT, ICET in Andhra Pradesh, CET in Maharashtra, GRE, TOFEL, MCA entrances and AICEE (South), is also planning to introduce training for qualifying exams required for different engineering, medical colleges, IIT-JEE and AIIMS.

"We have already introduced the courses in Kerala as a soft launch and want to launch it across the country during the year," Daruvala said. The company, which currently has over 400 employees on its rolls, is looking at adding another 150 people for the new courses.

The institute for the first three quarters of the current financial year posted a turnover of Rs 31 crore, representing a growth of 45 per cent. According to Daruvala, the institute expects a 35 per cent increase in its turnover to Rs 35 crore during the current financial year as compared to Rs 26 crore last year.

TIME by the end of March 2008 expects its revenues to touch the Rs 100-crore mark. Responding to a question, Daruvala said that the company, at present, has no plans of going in for an initial public offer (IPO) but is open to it if the need arises.