Icfai Business School (IBS), a wing of the Hyderabad-based Icfaian Foundation, plans to invest Rs 150 crore to set up its own campuses across India over the next two years.
“IBS is consolidating its operations and is investing in acquiring lands to build state-of-the-art campuses and high-end infrastructure facilities,” senior advisor and head of IBS-Mumbai, Y K Bhushan, told Business Standard.
IBS has seven campuses across the country. Six of them – Ahmedabad, Bangalore, Gurgoan, Kolkata, Mumbai and Pune – are on rented premises. Its Hyderabad campus is owned by the foundation. At present 2,850 students are pursuing their management courses.
Bhushan said IBS will acquire land in the western suburbs of Mumbai by investing around Rs 30 crore to set up the infrastructure in line with the All India Council for Technical Education (AICTE) norms. “Subsequently, we will take AICTE approval,” he added.
IBS has identified five acres in Kolkata and 15 acres in Bangalore where it would invest Rs 15 crore and Rs 20 crore, respectively. The institute is also planning campus in Chennai on a 20-acre plot at a cost of Rs 20 crore. IBS further plans to invest Rs 70 crore to set up campuses in Gurgoan and Pune. “We have identified land and negotiations are on for acquisition,” said Bhushan.
IBS said it had placed 3,200 students across the country in 2009-10 — a 15 per cent jump from the previous year. The placements were across sectors like banking and financial services, insurance, information technology and fast-moving consumer goods. An IBS spokesperson said the domestic annual pay package for the students last year went up to Rs 10,00,000. The international salary was around Rs 15,00,000 with 21 global placements. Some of the key recruiters last year were ICICI, HDFC, Deloitte, Kotak, JP Morgan, Fullerton Securities, Sundaram Finance and the Tata Group of Companies.
