The company has already installed Smartclass in 10,000 new classrooms in H1FY15
Gurgaon, January 21, 2015: Educomp
Solutions, the largest education company in India, is looking to add
21,000 new classrooms under its flagship Smartclass program this fiscal.
The company is in the process of signing up more than 11,000 classrooms
during the second half of the current fiscal, in addition to the 10,000
already added in the first half of FY15.
The
company has also changed its business model from hardware, content and
after-sales-maintenance to that of a services provider. This is in line
with Educomp’s strategy to move up in the value chain. This will free up
company’s resources and funds and help Educomp concentrate on
introducing more products into the market.
Over
the last one year, Educomp has changed its financial model as well. The
company is now selling the Smartclass product upfront as opposed to its
earlier practice of subscription based EMI model. This has resulted in
an improved cash flow.
The
company currently enjoys about 50% market share in this segment.
Credited with ushering in digital revolution in classrooms across India
since its launch 10 years back, Educomp Smartclass is today present in
around 15,000 schools in the country.
During
the first half of the current financial year, the company has already
installed Smartclass in 10,000 classrooms. The company is confident that
it is well on its way to regaining its earlier near complete dominance
in the space and expects to achieve a market share of 60% by March 2016.
Upbeat on the accelerated adoption of Smartclass in the first two quarters of the current financial year, Mr. Shantanu Prakash, Chairman and Managing Director, Educomp Solutions Ltd, said, “The
addressable market for Smartclass is 2 lakh private schools in India,
of which under 10% are currently digitized. Besides this, 14 crore
children do not attend school. The need for Smartclass kind of
infrastructure in schools is very high in India because of our
increasing young population that needs access to quality education. We
are confident that coming years will see an increased demand for digital
learning innovations like Smartclass and our other new products in the
country.”
Educomp
Solutions Limited is the largest education company in India and the
only company spread across the entire education ecosystem. From schools
to skills; Educomp group empowers over 22.8 million learners and
educators across ~34,500 schools to imagine, think and create a better
future.
Educomp’s
presence in each of the education verticals is marked with
technology-enabled products, high quality people, structured processes
and entrepreneurial leadership, that come together to deliver unmatched
value. From pre-school toddlers to post graduate students, from core
curriculum subjects at the school & college level to vocational
& employability skills for young, about-to-enter-the-job-market
adults; Educomp reaches out to the entire education life cycle.
Founded
in 1994 by Shantanu Prakash, the company today has 27 offices
worldwide. Currently, Educomp employs 16,000 employees across India.
Educomp also runs over 209 pre-schools, 51 Brick and Mortar K12 schools,
six colleges, one higher education campus, 94 Test Prep Centers, and
over 5.5 million students use Educomp’s online learning properties.
Educomp
is credited with ushering in digital revolution in classrooms of India
with the launch of its pioneering SmartClass program. SmartClass,
India's largest K-12 library of rich, 3D multimedia educational content
modules reaches out to over 7 million learners across over 15,000
private schools. The company also partners with state governments and
reaches over 6 million learners across 11,000 government schools.
Educomp is featured in Forbes Asia's 'Best under a Billion' list among
35 Indian companies which have made the mark and many other accolades
have come its way in course of its journey. The backbone of the company
is its strong Research & Development team dedicated to creating
quality content and serving the entire educational ecosystem.
To know more about Educomp, please click here
Warm regards,
Seriza D’Souza
Senior Account Executive
M: +91 99206 36980
T: +91 22 67574444 Ext : 351
W: www.adfactorspr.com
