Ed-tech platform Miles Education plans to launch Miles One, a learning platform for finance and accounting students and professionals in this fiscal, Vikas Gupta, chairman, Miles Education told FE Education Online. “Miles One will offer free gamified learning modules for customer acquisition as well as paid courses,” Gupta added. The company also plans to expand in the Middle East market in FY23, to provide skill-based courses such as Certified Public Accounting (CPA), Certified Management Accounting (CMA), among others. “We aim to focus on Dubai to begin with, and target the Indian diaspora present in the Middle East markets as we progress,” he added. Furthermore, the company also plans to start professional certification programmes in Bachelors of Business Administration (BBA) and Master of Business Administration (MBA).
According to regulatory filing accessed by business intelligence platform Tofler, Miles Education Private Limited’s revenue from operations in FY21 increased 167% to Rs 59 crore from Rs 22 crore in FY20. Furthermore, the company’s net profit increased by more than four times in FY21 to Rs 10 crore from Rs two crore in FY20. Miles Education claims to have clocked a net revenue of Rs 150 crore in FY22. However, the firm declined to comment on the profit or loss of the same fiscal year. “In FY23, we aim to clock a net revenue of Rs 250 crore,” Gupta stated.
Miles Education provides upskilling and training courses. The average ticket price of the courses stands at Rs 75,000, with a duration of about three-four years. “We have also collaborated with colleges such as Amity University, Alliance University among others, to acquire students,” Gupta said. In FY23, the company claims to have collaborated with Indian Institute of Management (IIM) Lucknow for a nine-months executive programme in digital finance transformation at a cost of Rs 2-2.5 lakh. “The first batch of this programme will begin in September, 2022,” Gupta said.
The company claims to have enrolled around 18,000 learners in FY22. It aims to enroll more than 35,000 learners in this fiscal. Currently, the company has five centers in India in Hyderabad, Delhi, Mumbai, Chennai and Bangalore. “By Q3,FY22, we aim to be present in 10 cities across India with new centers in Pune, Kolkata, Kochi among others, by November 2022,” Gupta said.