To cash-in on the growing demand for courses to help student crack competitive exams, education content and service provider Educomp Solutions on Thursday said it will open around 75 Indian Institute of Technology (IIT) coaching centres in the country this fiscal.
The centres, called Leap, will charge students Rs. 15,000-20,000 per annum for the preparatory course.
Leap centres will be set up inside school campuses which will allow students to pursue their mainstream school curriculum and test preparatory courses inside their school premises.
“A large number of students vie for a seat in the IITs and other leading engineering institutes each year. While 80 per cent of the students take some form of coaching, a mere 20 per cent of these have access to the top 10 coaching institutes of the country,” Educomp MD and CEO Shantanu Prakash told reporters here.
“Through our Leap centres we will give students access to standardised, high quality and cost effective test preparation courses,” he added.
The IIT-JEE and AIEEE market size is at present at Rs. 2,500 crores with an average coaching spend of each student being close to Rs. 50,000-1,50,000 yearly.
He further added that the company have undertaken restructuring of the business recently and have created a new entity called Educomp Supplemental for the supplemental education business which includes tutoring, counselling and assessment.
It plans to roll out other test preparatory material for BBA and medicine from 2011-12. By 2012, Leap centres will be present in around 200 cities across India.
Shares of Educomp closed at Rs. 763.05, up by 0.32 per cent on the Bombay Stock Exchange.
