Jaro Education expects over 70% growth in revenue to Rs 200 cr this fiscal

Edtech firm Jaro Education expects its revenue to grow over 70 per cent to Rs 200 crore this fiscal on increase in partnership with tier-1 institutions both in India and overseas and geographic expansion, a top official of the company said.

Jaro Education CEO Ranjita Raman told PTI that online degrees have been given equivalence to a full-time degree under National Education Policy that creates a very large market for players like it to build business and grow 2-3 times year-on-year.

"This is one great potential and keeping that in mind, we have looked at our expansion plan into tier-2 cities because that's the place where the major target audience lies. Our presence will definitely make it possible for us to get the best results out there," she said.

 

Jaro Education's turnover was around Rs 115 crore in 2022-23.

"We are a profitable company. We are focussing on EBITDA (indicator of operational profit) of Rs 54 crore and the top line, which is the turnover, we are expecting to be anything between Rs 180-200 crore," Raman said.

The bootstrapped firm commenced operation in 2009 with focus on upskilling the working professionals in India in collaboration with Welingkar Institute of Management.

"Back then in 2009, people used to not much rely on online education and the acceptance was not very high. Although one thing was there, there were also challenges of employment and getting upskilled was essentially important. Although the only roadblock that they had was the acceptance of online certificate and degrees by corporates," Raman said.

The company has gradually also adopted a counselling model for higher education.

"Now we have about 30 plus world's leading academic partners, including some of the Ivy League institutions. We have 70-75 plus different programs that we offer, from bachelors which is graduation level to a doctorate level programme. We have mastered general management, functional programme and techno functional programme which is like cyber, fintech, analytics, data science etc," Raman said.

The company runs offline centres for IIM Ahmedabad courses where learners need to come to the class and attend the programme.

Raman said the company has presence in 6 tier-2 cities and plans to add another 10-12 cities in a year.

Jaro Education has plans to partner with more overseas institutions.

"We have now started getting into our global expansion phase and have collaborated with some of the top institutions which includes MIT Sloan, Wharton etc," Raman said.

She said the company expects business to grow 60-65 per cent over a period of three years starting financial year 2025.