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TeamLease Edtech eyes net revenue of Rs 130 crore in FY23; plans to introduce IPO soon

The company claimed that in FY22, TeamLease Edtech clocked net revenue of Rs 70 crore

TeamLease Edtech eyes net revenue of Rs 130 crore in FY23; plans to introduce IPO soon
The Indian Edtech industry faced its fair share of challenges.

Learning solutions company, TeamLease Edtech aims to clock a net revenue of Rs 130 crore in FY23 at the back of a net profit of 15%, Neeti Sharma, president, co-founder, TeamLease Edtech, told FE Education Online. The company plans to scale-up its recently introduced degree apprenticeship programme aimed at teaching students industry relevant skills. Furthermore, the company plans to increase its user base to 7 lakh in FY 23 from 4 lakh. “In the next few years, we also plan to introduce our initial public offering (IPO) in the market,” Sharma said. 

According to regulatory files accessed by business intelligence platform Tofler, the company’s revenue from operations increased  59% to Rs 13.72 crore in FY21 from Rs 8.58 crore in FY20. In FY21, the company posted a net profit of Rs 4 crore, whereas in FY20 it incurred a net loss of Rs 4.24 crore. Sharma claimed that in FY22, TeamLease Edtech clocked net revenue of Rs 70 crore. “Our profit before tax (PAT) is about 10% to 12% year on year. We will continue this trend for FY22,” Sharma said.  She further added that the company is currently focused on increasing its investments to accelerate its business.

TeamLease Edtech claims to monetise through partnership with Higher Education Institutes (HEIs) and public sector enterprises. According to Sharma, the company provides end to end solutions to their clients such as providing training to students, upskilling them for corporates, and manage the degree, diploma, certificate programmes for institutes among other things. The company charges an average ticket price of Rs 15,000 annually from universities per student. “Our key stakeholders are universities and enterprises, learners come in as a second layer of stakeholders but we work with them very closely,” Sharma said.  

Furthermore, Sharma explained that TeamLease Edtech has three verticals namely education, employability, and continued employability. The education vertical primarily focuses on bringing in students for HEIs and manage their operations right from admissions, assessments, to providing training to students. Under the  employability and continued employability verticals, the company focuses on upskilling students according to the industry needs and provide them with jobs opportunities. “Currently we are partners with over 50 plus universities and 3,000 enterprises and we plan to increase these numbers in the near future,” Sharma said.

The platform further runs a service wherein it prepares institutes for National Assessment and Accreditation Council (NAAC) test that assesses and accredits higher education institutions. It recently launched the accreditation platform for the universities as a part of its expansion plan. The company further has introduced the use of artificial intelligence (AI) and a part of metaverse in their pedagogy to improve learner engagement. 

Also Read: TimesPro launches web 3.0 initiative to help learners upskill in emerging technologies

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