Motion Education Private Ltd, India's leading Ed-Tech brand is all set to achieve over Rs 100 crores revenue in the current fiscal (FY 2021-22).
On its 15th Foundation Day, the founder announced the opening of at least 12 to 15 study centers this year in the northern region of the country and 35 to 40 new centres all over India in the coming financial year to bring the total to 100 and revenue to around Rs 300 crore.
Talking about the expansion plans, Nitin Vijay, Founder & Managing Director of Motion Education, said, "For this year, we are looking to open 12-15 study centers in the northern region. For next fiscal year to achieve Rs 300 cr revenue, we are looking to open centers in Hindi belt with less numbers in southern India. So, the target would be Rs 2-3 crore per center revenue apart from the Kota center. We will invest money in enhancing the systems so that we can scale, and increase academic quality."
Motion Education has been working on digital transformation for the last seven years that helped it to marginalize the impact of the COVID-19 crisis. As per the announcement, Motion Education (Kota) is going to garner Rs 65 crores by March 2022 and Rs 35-40 crores of business is expected from 41 centers across the country. Also, from 8459 admissions till October 2020 to 11209 new admissions till October 2021, students' strength increased at the rate of 32 per cent in the current season, which has significantly bolstered the company's growth.
Last year, (2020-21) company's total revenue was Rs 50 crores. The first quarter's earnings were Rs 27 crores and the second quarter's earnings were Rs 10 crores while the last two quarters could generate only Rs 13 crores.
"The COVID-19 crisis hit revenue of the industry. However, we swiftly adapted to the Ed-Tech and students enthusiastically welcome the change. Thereby we made up our revenue by increasing the number of students by 32 per cent. Based on this trend, we are expecting Rs 65 crores revenue (excluding 41 centers) in the current fiscal with 15-20 per cent profit. Also, by the end of next fiscal, we want to have at least 100 business centres pan India," said Vijay.
"The Coaching Industry has now been passing through a transition phase. Institutions are trying to convince students that they have to shift from their traditional way of teaching to an innovative way of learning. Motion Education is ahead of the competition with its innovative solutions. We are investing heavily in technology so that we can ensure a customized learning experience for every student. Technologies such as AI and ML and innovative Data Pattern Analysis tools are very effective in their overall assessment. These innovations help us develop bespoke study material depending on one's strengths and weaknesses," added Nitin Vijay.
In response to the consistently growing students' strength, Motion Education inaugurated its new building "Daksh" situated at Dadabari, Kota. Spread over 50, 000 sqft, the multi-storeyed building is well-equipped with all the modern facilities of quality infrastructure to impart efficacious educational solutions.
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( With inputs from ANI )
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