Topranker bats for new centres in Northern states, eyes net revenue of Rs 40 crore in FY23 | The Financial Express

Topranker bats for new centres in Northern states, eyes net revenue of Rs 40 crore in FY23

In the first year of operation in FY22, the company claims to have clocked a net revenue of Rs 20 crore on the back of a profit of Rs three crore.

Topranker bats for new centres in Northern states, eyes net revenue of Rs 40 crore in FY23
In FY23, the company aims to enroll 50,000 students.

Ed-tech company Topranker plans to open 25 new centres in Northern states including Uttar Pradesh, Chandigarh, Bihar, and Kolkata, besides it aims to clock net revenue of Rs 40 crore in FY23 and  Gourav Goel, CEO, Topranker, told FE Education. “We do not expect any profit in FY23,” he added. However, the company declined to disclose the loss details. Furthermore, in the same period, the platform plans to start courses on career-counselling in finance and accounting, and teaching. “For finance programmes, we plan to collaborate with institutions to provide online B.Com degree, and offer CA preparation courses simultaneously,” Goel noted. 

In the first year of operation in FY22, the company claims to have clocked a net revenue of Rs 20 crore on the back of a profit of Rs three crore. The company is yet to file its first year financial report (annual) with the Ministry of Corporate Affairs (MCA). Further, as means of monetisation, the platform sells its courses directly to students for a price ranging between Rs 5,000 to Rs 1.8 lakh. “We plan to start more short term programmes this fiscal” Goel said. In FY22, the firm claims to have enrolled 23,000 students. In FY23, the company aims to enroll 50,000 students. 

Topranker claims to offer career-counselling and test preparation courses in law, management, commerce, design, entrepreneurship, liberal arts and humanities disciplines. “We aim to guide students for their career beyond engineering,” Goel said. Further, the courses are designed for 9th and 10th grade students. The duration of the programmes varies from two months to two years. 

Currently, Topranker claims to be present in Madhya Pradesh, Rajasthan and Delhi in eight hybrid-classroom centres. In addition, this year in June, the company raised four million dollar (Rs 31.3 crore) in a Series-A funding from consumer fund Sixth Sense Ventures. “We are in the process of acquiring a few companies. In Q4, FY23, we will announce these acquisitions,” Goel added.

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First published on: 02-11-2022 at 08:00 IST