As a part of its foray into higher education, Birla Edutech Limited, today said that it planned to open its first Super Speciality School in the city by the academic year 2012.
"We plan to open a number of super speciality schools across the country. We are looking at 3 streams in the next five-years and the first such school will be opened by academic year 2012 in south Mumbai. The investment will be over Rs 100-crore per school depending on the size and location," Birla Edutech's CEO, Srikrishna, told PTI on the sidelines of a press conference.
Super Speciality School is the Group's venture into higher education from its present chain of conventional schools, Srikrishna said.
The Yash Birla group company, which inked a Letter of Intent (LoI) with PanIIT Alumni India today, aims at exploring opportunities to carry out innovative projects of mass benefit in health care and renewable energy, besides the super speciality schools.
The company is looking at raising money through private equity to fuel its expansion plans, including the new projects under the LoI, the Group's Chairman, Yash Birla, said.
"The LOI is a first of its kind pact with PanIIT, an umbrella alumni organisation of all IITs, and aims to provide an avenue for joint ventures on projects of mutual interest.
The pact will help nurture the relationship between industry players and academia for the nation's overall growth," Birla said.
Besides, the company is planning to open 200 schools across the country in the next three-years.
The schools would be a mix of Globe Toters (pre-schools and K-12 (up to class 12). While the company will invest Rs 60-lakh to one-crore per Globe Toters, K-12 would require Rs 2-3-crore per school.
The company will open 20 Globe Toters and 5 K-12s by 2011, Srikrishna said.