Byju's-backed Aakash expecting to cross Rs 3,000 cr in revenues this year

Edtech major Byju’s said its subsidiary Aakash Educational Services (AESL) was expecting to cross Rs 3,000 crore in revenues in financial year 2022-23, a threefold rise under its fold.

Byju’s acquired AESL in 2021 for about $1 billion. Since then, Byju’s said AESL’s revenue and profits tripled.

“Since the acquisition, AESL has registered 3X growth in revenue, and we look forward to integrating our synergies further to reimagine education for students everywhere,” said Divya Gokulnath, co-founder of Byju’s. “With our expansion plans and student-centric approach, we are confident that AESL will continue to broaden its horizons.”

The company, which prepares to go public soon, has opened 115 new centres, taking the total to 320. With over 5,700 teachers and 400,000 enrolled students, Byju’s said AESL had established a leading market position and brand value.

Byju’s said the company was well-positioned to maintain its position as the leader in test prep for JEE and NEET coaching in India. 

The company said the partnership had significantly contributed to AESL’s growing digital footprint. Hybrid learning has become the new model of education, and AESL classrooms now feature Byju’s digital expertise, such as smart boards and digital learning content.

“We are expanding our presence across tier 2, 3, and 4 cities to ensure we are accessible to students across the country,” said Abhishek Maheshwari, chief executive officer of AESL.