The year 2015-16 has indeed been an action packed year for the company. We started2015-16 taking off for on the approval of our CDR in 2014 by a consortium of domestictenders subsequent to which the company embarked on implementing a revival plan for theorganization which focused on six strategic incorporate initiatives. On these strategicincorporate initiatives among which were included change in the business model of theSmartClass business organizational restructuring of the organization to become morecustomer focused concentrating on the delinquent customers which fall in the red ERPcategory to recover the due moneys further cost rationalization and working on the coreareas of strength and trying to divest the non core areas.
You will be happy to know that we have progressed very well on our strategicinitiatives. We won orders from 742 new schools in FY16 compared to 490 new schools inFY15 an increase of 51%. It was also a year that was marked by an excellent renewal rateof our past customers showing the confidence that customers had on the company as well astwo new strategic initiatives to leverage not only new channels of distribution for ourexisting products but also leveraging our existing sales channel to sell other value addedproducts to the consumer.
On both fronts we have made substantial progress. We have signed agreements with onlineportals such as FlipLearn for monetization of the SmartClass content as we recognize thatthe future is to directly sell our content to consumers through internet and online andgiven the resource constraints of the company as well as the obligations of theorganization post CDR we have moved forward to utilize and monetize our intellectualproperty by inking exclusive distribution arrangements to sell our content through otherdistribution channels.
Further the company has leveraged its rather large network of people across thecountry to introduce other value added products so that our cost of sales and cost ofcollections should be normalised and rationalised. These initiatives have shown sufficienttraction and endorses our belief that Educomp is back to being the leading digital contentcompany across the country. We continue to innovate across our entire product line andhave focused on trying to provide and position the latest technology to our customers. Wehave also tried to unlock the distribution strength of the company to ensure that weposition Educomp as a company that is a trusted brand providing various solutions toschools.
In our education infrastructure business we continue to advocate policy change and tryto create awareness for the importance of private sector education in the country as ourshareholders are aware that this high potential business has in the past been hampered byvarious regulations that have limited value creation such as fee regulation the right toeducation act as well as the multiple approvals required to set up and manage schools.Further the taxation policy of the government turned adverse towards the education sectorby taxing the income generated from schools. Notwithstanding all of this we have shownnet increase and net enrolment across all the schools has increased from 24871 studentsin FY15 to 25774 students in FY16 an increase of 4%. The fact that our schools acrossthe country stand for quality education and have won the trust of the consumers istestimony to the fact that eventually consumers will choose quality no matter what.Further to bolster our brand presence we have tied up with organizations to license ourMillennium School brand so that more Millennium schools can come across the countrythereby popularizing the brand as well as bringing a healthy license fee to theorganization.
Lastly as a part of our Government business we have shifted focus to working with theMinistry of Skill Development and Entrepreneurship to work in the Skill India initiativeand our Edureach team has already signed several contracts across 5 States in this space.Additionally we are also implementing the Honorable Prime Minister's flagship programmePMKVY in 8 States.
Our focus on monetizing non-core assets continued and we successfully sold ourSingapore company to Japanese listed company as well as took concrete steps towardsmonetizing other non-core assets. We have further divested our investments in othernon-core assets such as Vidyamandir Classes and are closely looking at other divestmentsas well.
I am very thankful to team Educomp who have proved beyond doubt that they are thenumber one team in the education sector a team that is dynamic vibrant committed to ourideals of ethics innovation transparency accountability and trust and a team that isready to take on the challenges of 21st century education and learning. Whilewe are proud of our team I also thank the other stakeholders specially our customers whohave stood steadfast in believing in the company we assure them that we are fullycommitted to their long term success and every action that the company takes isfundamentally on a 'Customer First' principle and concept.
Finally I would like to thank our bankers who have worked very closely with thecompany and are always receptive to our ideas and work with the positive mindset with usto find ways to work together to unlock shareholder value as well as serve the educationsector in our country.
We look forward to Team Educomp contributing to the Indian education story for severaldecades to come.