Core Projects & Technologies Limited (CPTL) has announced a business plan to enter the lucrative School Management business in India. Estimated to be growing at a CAGR of 20 per cent, the K-12 segment is one of the fastest growing education sectors in the country, said the company in a statement.
“Core’s research team has found that parents who spot sporting talent in their children at a very early age are reluctant to allow the children to focus on their sporting skills for fear of them neglecting their normal studies,” said the company.
Sanjeev Mansotra, Chairman and Managing Director of Core Projects & Technologies Limited said, “We believe that there is a need for a separate set of schools which, whilst imparting education as per the state standards, also helps early identification and grooming of exceptional sporting talent. We plan to initially set up a chain of ten schools attached with sports academies across India.”
The company has set up a team of educators from the Indian K-12 domain and has principals and teachers from leading schools on the executive team of CPTL’s School Management Division.
Outlining its plans, CPTL said, “The company plans to set up 30 schools in the next three years. These schools will be in sub-sets of 10 schools each, with a distinct focus and purpose.”
The company further said that an equity infusion of about Rs 150 crores would be needed over the next three years to implement the plan. The group’s current annual profits are about Rs 175 crores and the company expects to use these profits for the equity contribution envisaged.
“Our market research has shown that there is a huge demand for high-end IB schools in Tier-1 cities across India. To meet this need, we plan to set up 10 schools in up-market cities, equipped with latest technologies, infrastructure and teaching processes. We hope to have an international collaboration for this segment to set us distinctively apart from other schools in this genre’, Mansotra said.
The second sub-sets will focus on education in the traditional K12 format, integrated with a high end Sports Academy.
Speaking on the third sub-set of schools, "CPTL also plans to start private un-aided schools in Tier 2 and Tier 3 towns, including semi-urban centres, where it is a statistically established fact that the demand from parents is growing for schools which deliver quality education at competitive price," added Mansotra.
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