InvestorQ : Is it true about the aggressive plans that Upgrad has for the coming years?
Aditi Sharma made post

Is it true about the aggressive plans that Upgrad has for the coming years?

Mahima Roy answered.
2 years ago

It seems to be the era of the Fintech and Edutech firms in India. Upgrad, a fast growing edutech firm, expects to grow its business over 8-fold in the next 5 years and achieve revenue levels of revenue of Rs.10,000 crore as online higher education picks steam.

Upgrad expects to grow by four-fold in the current fiscal year due to a surge in demand created by the pandemic, which has forced most students and their parents to increasingly look at online education and learning as a viable long term alternative.

The project is backed by Ronnie Screwvala, who was one of the founding members of UTV before it was sold out to Disney. Upgrad plans to cross Rs.7000 crore revenues during the financial year 2025 and would have enrolled 15 lakh learners by then.

Currently, Upgrad has 5 lakh learners, of which 32,000 are paid subscribers which is a substantial number. In the current fiscal year 2020-21, the company expects to report total revenues of Rs.1200 crore.

Apart from targeting the young population, Ronnie has pointed out that they will also target continuous learning for the people in the age group of 18-48 years and this segment is expected to contribute another Rs.3000 crore revenues by the fiscal year 2025.

Upgrad also sees another major opportunity in targeting the working professionals who need to continuously upgrade their skill levels and learn new skills in sync with the changing market and business conditions.

Ronnie has pointed out that their focus area of higher education is not too crowded in India and in that particular segment they are five times the nearest competitor. Upgrad will also look to gradually expand its footprint beyond India.