Supertech enters education sector; to set up Rs 750-cr varsity

Real estate firm Supertech today announced its foray into the education sector and said it will set up an University in Uttarakhand with an investment of Rs 750 crore.
Supertech University, which would be set up on 47-acres of land near Rudrapur in Udham Singh Nagar district, would start functioning from December this year. The regular courses will start from mid-2015 session.
"We have decided to enter into higher education sector by opening a University in Uttarakhand. We have got the land and approvals from the state government to start the University," Supertech Chairman and Managing Director R K Arora told reporters here.

He said the initiative would be under the company's philanthropic arm Supertech Foundation. Former Vice Chancellor of Kumaon University V P S Arora would be the VC.
Asked about the investment, Arora said "it will be Rs 750 crore in the first phase." The company is in talks with domestic and foreign investors to raise funds.
The University would offer programmes in architecture and planning, management, law, hospitality and tourism, fashion and design, journalism and mass communication, medical and health science among others.

Giving further details, University's Vice Chancellor VPS Arora said some of the skill development programmes would start from December this year, but regular courses would be offered from next year.

Supertech is in discussion with foreign Universities, including Johns Hopkins from US for tie-ups. It is in talks with universities in UK and Australia for association. It is also in talks with Indian School of Business, Hyderabad.
"In the first year, we are targeting 500-1,000 enrollments in our university. At the end of five year, this number should be 5,000-6000," he added. At least 25 per cent of the seats would be reserved for Uttarakhand students.
On fees structure, the VC said it would be competitive, while taking into account purchasing power in Uttarakhand.
Supertech CMD said the company would scale up the size of the University to 100 acres going forward. It has plans to set up similar University in other parts of the country.

Noida-based developer is currently construction 75 million sq ft of projects worth Rs 14,000 crore.