Everonn plans to build 300 schools for Rs 3,600 cr by 2015

Chennai-based Everonn Education today said it plans to open 300 schools over the next five years at a total investment of Rs 3,600 crore with a view to provide quality education at an affordable cost.

The BSE-listed technology-enabled education provider plans to open ten K-12 Ken Bridge schools by the end of this year, which will be operational by the next academic year, Everonn Director Susha John told PTI here.

"We plan to open 300 K-12 schools over the next five years. The schools will be built as part of our endeavour to provide education to all at an affordable price," John said.

Each school will be built across an area of 4-5 acres at an average cost of Rs 12 crore, including the land value, taking the total project cost to around Rs 3,600 crore, John said.

"The total project would cost around Rs 3,600 crore. While Everonn will invest only 7 per cent of the total cost, the rest will come from partners interested in starting schools or land owners," John said, adding that Everonn will act as the facilitator and manager of the project.

Everonn, which is India's first education and training company to offer satellite-enabled learning, plans to open these schools under its wholly-owned subsidiary, Everonn School, she said.

The schools will charge a monthly fee of Rs 1,800 on average, depending on their location. The admission fee for Ken Bridge schools has been fixed at a relatively affordable level of Rs 20,000 per annum, he said.

With a teacher-to-student ratio of 1:28, the schools will have a large playground, amphitheatres, audio visual labs and technology-enabled interactive classes, John said, adding that the syllabus would be of the CBSE board.

The company will initially open schools in cities such as Amravati, Anantnag, Bhubansewar, Tuticorin, Jaipur, Raipur, Motihari and Khammam.