Corona has had a profound impact on the education system of the country. More than 1,000 schools from nursery to 12th grade are up for sale in the country. By doing this, an investment of Rs 7,500 crore is expected in the next two-three years. Education Infra. Serestra Ventures connected to the sector has conducted a survey about this.
According to data collected by Cerestra Ventures, the annual fees of most schools put up for sale is Rs 50,000. Accordingly, 80 percent of the people in India study in these fee slab schools. Vishal Goel, the partner at Cerestra, says that during the epidemic, many states have set fee limits.
However, apart from the salary of teachers, other expenses are also incurred, due to which the financial condition of private schools has deteriorated significantly. Vishal said that a large school chain had to reduce the salary of its teachers by 70 percent. Goyal says that it is difficult to find out how the conditions will be in the future.
This is why funding signals in schools are negligible. Goyal's company has more than 30 schools, ranging from nursery to 12th standard. 1,400 crore investment is required in these schools. These difficulties are not only for small and middle-class schools, but schools running big chains can also be hit.
EuroKids International has more than 30 schools across the country, which are now looking to exit the business. Prajodh Rajan, Group CEO of EuroKids International, says that many times these schools are shocked by their promoters investing in different areas. He said that due to the blow to the promoters, the school also has to suffer its consequences.