Delhi headquartered DMC Education Limited, the leading education company engaged in supplement education in India registered a consolidated sales growth of 102 % touching Rs. 165.5mn for the FY 2011 compared to Rs. 82mn in the same period last year. The net profit after tax also went up by 40 % to Rs. 25mn from 18mn recorded last year.
Saroj Gupta, Executive Director, DMC Education Ltd attributed this success to the rising need of supplementary education in the country, which is presently growing at more than 25 % YoY. "With globalization, the demand for supplementary education has moved up considerably in order to get an edge to excel in the exams such as IIT’s, GMAT, GRE, SAT, TOEFL and IELTS,’’ added Mrs. Gupta.
"We are seeing a tremendous emergence of specialized careers and growing demand of existing careers. The online technology to distribute content remotely has increased the scope of such market where we are operating,’’ said Mr. Anuj Ahuja, CEO of DMC Education Ltd. Mr.Anuj added that the market for supplementary education (test preparation and vocational training) is estimated to be Rs. 50,000 crore. The reason is that the growing middle class in India is willing to spend on education which is 35 % of their net income.
Recently, the company had also announced the acquisition of a leading Kolkata based education management company called Plansteps for a total consideration of INR 45 million to enter the career counseling segment in India. With this acquisition - which is one of the biggest acquisitions in the field of education consulting in India, the company plans to take career counseling pan India.
After the acquisition, the company is looking at aggressive expansion, by planning to open more than 100 centers in the next 3-5 years which would offer career guidance to the applicants.
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