Veranda Learning Solutions announced on Friday the acquisition of a 50 per cent stake in Tapasya Educational Institutions Private Limited (TEIPL) for INR 120 crore through its subsidiary, Veranda XL Learning Solutions.
Established in 2009, Tapasya Educational Institutions provides services to 19 Inter/PU Colleges and 10 degree colleges across 13 locations in Telangana and Karnataka, with over 13,000 enrolled students. The institution offers a range of educational and ancillary services, covering intermediate, pre-University, and graduation programs such as B.Com and BBA. Additionally, Tapasya caters to professional courses like CA and CMA, along with integrated programs. In the fiscal year 2024, TEIPL is expected to generate revenue of INR 65 crore, with an EBITDA of INR 26 crore.
Reshaping Education
Acquiring Tapasya will strengthen Veranda's ecosystem in Commerce Higher Education. Veranda Learning can expand its course offerings and leverage regional expertise through Tapasya's network. Tapasya, on the other hand, can benefit from Veranda Learning's experience in curriculum development, technology integration, and student support services. This symbiotic relationship will reshape education in Telangana and Karnataka.
Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, said, “The acquisition aligns seamlessly with our commitment to delivering high-quality education solutions. The goal is to touch 1 million students in FY24 and this endeavour of ours will take us in that direction. Tapasya’s strong presence in Telangana and Karnataka perfectly complements our expansion strategy.”
Muppala Sreedhar, Founder and Chairman of Tapasya Institutions, said, “Joining forces with Veranda Learning Solutions marks a significant milestone for Tapasya. We believe that our shared vision for educational excellence and Veranda’s proven track record will result in a powerful synergy, benefiting students and educational stakeholders.”
Last year, Veranda Learning Solutions revealed that it has acquired seven businesses through its wholly-owned subsidiary, Veranda Administrative Learning Solutions Pvt Ltd at a total valuation of over INR 400 crore. The companies that were acquired included Educare Infrastructure, Six Phrase, Smart Bridge, Talent Academy, Talent Publications, Phire Learning, and BAssure.
