ASL plans to expand its operations to the US, UK and China; eyes a net revenue of Rs 60 crore in FY23 | The Financial Express

ASL plans to expand its operations to the US, UK and China; eyes a net revenue of Rs 60 crore in FY23

In FY22, the company claims to have clocked a net revenue of Rs 18 crore on the back of a net loss of Rs 13 crore.

ASL plans to expand its operations to the US, UK and China; eyes a net revenue of Rs 60 crore in FY23
The company claims to have raised a fund of $5 million in March 2022.

Overseas Education service provider Adventum Student Living aims to clock net revenue of Rs 60 crore on the back of net loss of Rs 18 crore in FY23, Sayantan Biswas, co-founder, ASL, told FE Education.  Furthermore, in the same fiscal year, the company plans to enter new markets including United Kingdom, Australia, the United States, and China. “However, our business is aligned with the calendar years (December to January),” Biswas said. 

In FY22, the company claims to have clocked a net revenue of Rs 18 crore with net loss of Rs 13 crore. As means of monetisation, the firm claims to collaborate with international institutions. It operates three verticals namely UniAcco – for student accommodation globally; UniCreds which provides financial aid to international education; UniScholarz – global scholarship directory and counselling. 

According to Biswas, the average ticket cost of the offerings stands at Rs 30,000, Rs 35,000 and Rs 1.5 lakh respectively. “The collaborating institutions pay 10-15% of what they charge from the students,”  Amit Singh, co-founder, ASL said. Furthermore, in FY22, Adventum Student Living claims to have enrolled 16,000 students under UniAcco, 2,000 students under UniCreds, and 400 students under UniScholarz. In FY23 the targeted number of students under the three verticals stands at 30,000, 6,000 and 1,500 students respectively.

In addition, the company claims to have raised a fund of $5 million in March 2022, (Q4, FY22). In the fourth quarter of FY23, the firm plans another fund raise. “The company is valued at  $100 million (Rs 700-800 crore),” Biswas said. 

Also Read: TimesPro in collaboration with IIM Nagpur launches PG certificate programme in Blockchain Technology

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First published on: 08-11-2022 at 08:00:00 am
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