15 Jul , 2022 By : Monika Singh
Utkarsh Classes aims to expand its online market in Hindi-speaking states including Uttar Pradesh, Madhya Pradesh, Bihar, and Haryana. “With online classes, more students can be reached out, especially those who cannot afford to come to our centres. However, we also plan to open a few offline centres,” Gehlot said. The company aims to start an offline centre in Prayagraj, Uttar Pradesh in November, 2022. Furthermore, the platform aims to clock a turnover of Rs 200 crore in FY23.
Regulatory files accessed by business intelligence platform Tofler revealed that Utkarsh Classes’ revenue from operation increased 178% to Rs 129 crore in FY21 from Rs 46 crore in FY20. The company’s net profit increased 77% to Rs 32 crore in FY21 from Rs 18 crore in FY20. In 2022, the company claims to have clocked a turnover of Rs 150 crore, while EBITDA stood at Rs 59 crore.“We are in an expansion phase in terms of online courses and presence, ” Gehlot noted. The company claims to have an average monthly expenditure of Rs 6-8 crore. The expenditure of the firm majorly includes employee benefit expenses with close to 1,100 staffers.
The firm monetises through sale of courses to students through online platform as well as through its offline centres. In FY22, the company claims to had enrolled 7.5 lakh students in online courses. In Q1,FY23, the company claims to have enrolled around two lakh students, with an average customer acquisition cost of Rs 350. By the end of FY23, the company aims to enroll 10 lakh students in online courses and 35,000 students in offline classes. The average ticket price for online courses is Rs 2,500 and the course fee for offline courses range between Rs 12,000-25,000. “Recently, we have started operations in 15 offline centres in Jaipur and Jodhpur. We will announce a few more centres in Jodhpur shortly,” Gehlot explained.
On July 13, 2022, the company rolled out an offline centre in Jodhpur for defence courses which includes Air Force, Army, Navy, National Defence Academy, Combined Defence Service, Coast Guard, Air Force Common Admission Test. According to Gehlot, the platform aims to focus on introducing more courses in defence to focus on Agniveer candidates.
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