Future Group eyes a bigger play in Indian education sector
NEW DELHI: Future Group is aiming for a bigger play in India's education sector with plans to expand its training and skill development vertical Future Learning and become an autonomous entity providing professional courses across industry sectors.
It is planning to invest over Rs 20 crore in the next 2-3 years and add courses in areas such as healthcare, education and infrastructure.
"Our endeavour is to make Future Learning a one stop destination for training and education in sectors like retail, supply chain, healthcare, infrastructure and education... We want to be an autonomous body providing MBA and other degree and diploma courses that would be recognised by the industry," Future Learning CEO Muralidhar Rao told PTI.
The group has already invested Rs 25 crore in Future Learning in the last couple of years since it was set up to impart education to people across sectors like retail and supply chain.
"We want to create an Indian model of learning and offer courses and degrees designed by experts," Rao said.
Future Learning, which is affiliated to the Indira Gandhi National Open University, offers courses at its three centres located at Bangalore, Kolkata and Ahemdabad.
Asked about the Future Learning's current revenues, profitability and its contribution to the group's total business, Rao said, "The group does not consider this initiative as pure business...Future Learning is profitable, but investment for expansion is currently being funded by the parent organisation."
"In the next 2-3 years, we would like to double the company's growth," he said.
Last week, Future Learning had entered into a joint venture partnership with the National Skill Development Corporation (NSDC) aiming to train seven million Indians in varied industries in the services sector in the next 10 years.
The two partners have earmarked Rs 58 crore for the next 10 years for the JV - to be named Future Sharp.
While Future Learning will hold 73 per cent stake in the JV, NSDC will hold the remaining 27 per cent stake.
Future Sharp is targeting a turnover of Rs 1,000 crore in the next 10 years, Rao added.