EuroKids International, a leading player in preschooling, the K-12 sector and online learning today said it is investing around Rs 500 crore over the next five years to expand its network.
"We have 1,034 preschool centres in 350 plus cities across the country as well as Nepal and Bangladesh. We now plan to increase it to 3,000 in tier II and III cities in the next five years. The company is also looking at adding 20 more Euro schools in six cities and setting up of corporate day care centres at an estimated cost of Rs 500 crore," EuroKids International executive director and CEO Prajodh Rajan told PTI here.
The company has made an investment of Rs 200 crore in the past two years to set up K-12 schools and upgrade facilities.
The future capital expenditure will be funded through debt and internal accruals, Rajan said adding that the company is also exploring options to tap private equity funding or public offer for its future funding requirements.
The PE investors namely Gaja Capital and Partner's Group of Switzerland have majority stake in the company, Rajan added.
EuroKids International acquired the Kangaroo Kids preschool chain and Billabong High International Schools in fiscal 2018 through a mix of debt and cash balance.
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The company also plans to offer daycare facilities at corporate workplaces and at its franchisee centres. It has commenced daycare facilities at IIM Indore and SBI's Nerul premises.
It has clocked a turnover of Rs 350 crore in FY18 and targets Rs 450 crore turnover in FY19, Rajan said.
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