Edtech firm Extramarks is looking to scale up its test preparation business sharply over the next two years, with a target of onboarding more than 100,000 students by FY27, as it deepens its presence within its existing school network and expands the use of its AI-led learning platform.
Ritvik Kulshrestha, managing director and chief executive officer of Extramarks Education, told Financial Express that the company’s growth strategy is centred on deeper penetration within the 12,000-plus schools already on its platform rather than aggressive geographic expansion.
The company rolled out its AI-powered education suite, Extra Intelligence, last year and has since onboarded more than 200,000 students and over 75,000 teachers through its partner schools.
Ritvik Kulshrestha on early traction
“The early traction has given us confidence in the product-market fit and the go-to-market approach,” Kulshrestha said, adding that the next phase of growth would come from expanding the test preparation vertical, especially for competitive exams such as JEE and NEET.
The company plans to deliver these programmes within school classrooms using its own technology and faculty, a model it says keeps customer acquisition costs low while reducing the academic load on students.
While Extramarks already has a pan-India presence, the near-term focus remains on increasing adoption within existing partner schools by onboarding students onto its learning and test-prep products.
Internationally, the company is evaluating selective expansion across the Middle East, North Africa, Southeast Asia and parts of Europe. According to Kulshrestha, the company’s AI-led localisation and curriculum-mapping tools allow it to adapt content to local languages and curricula, enabling faster rollout in overseas markets.
Product development
Product development remains a key priority, with artificial intelligence forming the core of the company’s roadmap. The platform is being expanded to support multiple curricula and regional languages, alongside the introduction of new AI-driven features aimed at personalising learning for students and improving outcomes for teachers and schools.
Extramarks has also entered the higher education segment with the launch of Extramarks Forte, a product designed for colleges and universities, leveraging the same technology backbone used in schools.
For FY25, Extramarks reported revenue of Rs 284.5 crore and expects growth of around 33% in FY26, driven by new product launches and wider adoption across its existing base.
Kulshrestha said the company has returned to Ebitda profitability after a period of losses during the pandemic, when it invested heavily in technology, product development and platform expansion. The focus now is on margin expansion and achieving full profitability in FY26.
The company last raised funding in 2021, which was largely deployed towards strengthening its technology stack, expanding into test preparation, and building capabilities in AI and data analytics. At present, Extramarks does not plan to raise fresh capital in the next 12 months, preferring to consolidate gains and strengthen execution.
An initial public offering is also not on the immediate agenda. Kulshrestha said the company is targeting an IPO over the next three to five years, once it has firmly established leadership in its core segments and achieved consistent profitability.