Byju’s-owned Aakash eyes 60-70% growth in FY23; new centre, hiring on cards

Test preparation major Aakash Educational Services (AESL), owned by Byju’s, is confident of growing at 60-70 per cent this year, with its business momentum driven by market demand, hirings, addition of new centres, and increase in student count, a top official said.

AESL’s positive commentary assumes significance given that reopening of schools and colleges in the offline mode has hit the business models of many new-age edtech startups. In fact, the market is rife with reports of layoffs, and some edtech startups - that had announced ambitious plans and fundraising at the peak of the pandemic - have shut down operations over the last few months.

Abhishek Maheshwari, CEO, AESL, said the company continues to log “robust” growth in volume of students, number of centres and other key metrics, and expects to hire 2,000-3,000 people in the next 12 months.

AESL - which provides test preparatory services to students gearing up for medical and engineering entrance exams, school and board exams, as well as other foundation-level examinations - was acquired by Byju’s in a mega deal valued at almost $1 billion, last year.

Maheshwari observed that the students’ return to classrooms (as pandemic moderates) has strengthened AESL’s proposition, thanks to the hybrid model it has built with digital layers, which continues to give added flexibility.

“Our digital business is growing too, and overall, we are growing at an unprecedented rate. This is due to our value proposition, track record based on results, mix of technology, delivery and content, as well as geographical reach,” Maheshwari observed. Aakash plans to add 50-60 new centres by next academic year, to meet market demand. It has nearly 300 centres now, and is also looking to expand space in 100 of those, in coming months. AESL added 4,000 employees in the last nine months taking its overall headcount to over 8,000.