You are here: Home » PTI Stories » National » News
Business Standard

upGrad eyes Rs 1,000 cr revenue in 2020-21

Business Finance

Press Trust of India  |  Mumbai 

Online higher education platform upGrad on Monday said it is eyeing Rs 1,000 crore revenue in 2020-21, on the back of growing average revenue per user (ARPU).

"The last three years at upGrad, owing to our high investment in content, learning experience, diversity of programmes, deep tech, strong university alliances and a high over 80 per cent completion rates, have put us at a clear inflection point for this decade," upGrad Executive Chairman and co-founder Ronnie Screwvala said.

With growing ARPU, new programmes in data, digital, management, software, machine learning or artificial intelligence, upGrad is now offering jobs in over 300 cities across the country will contribute to high growth in the coming financial year, he said.

"upGrad targets to cross an annual revenue run rate of Rs 1,000 crore in 2020-21," he added.

upGrad, with an ARPU of close to Rs 2.4 lakh per learner, crossed 21,000 cumulative learners on their platform and looks to add 4,000 learners this quarter to end the financial year with an annualised run rate of Rs 400 crore.

He said India is one of the lowest ARPU countries in the world -- in media, telecom, content, retail and more.

"Brand affinities are very low and looking for the best or lowest price is the bedrock of the India consumption story. Education is and will be the exception and allocation of wallet share will increase for edTech, as most in the workforce play catch up in their careers with the innovations and disruptions of this century," Screwvala said.

Going forward, upGrad is planning to offer degree courses from the next financial year, he said.

"We are in talks with three universities for jointly developing curriculum for the degree courses," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, March 02 2020. 19:54 IST