Revolution in online education

In the wake of the Covid-19 pandemic and the implementation of the National Education Policy, 2020 (NEP), the landscape of higher education in India is undergoing a transformative shift. The pandemic has accelerated the adoption of online learning platforms, and Jaro Education is at the forefront of this educational revolution. Recently, the University Grants Commission (UGC) announced that online degrees will be on par with offline degrees and allowed students to pursue further higher studies. This has significantly increased the demand for online learning post Covid.

The Indian government is promoting online education for two key reasons. Firstly, it aims to democratise access to quality education by providing online programmes from renowned universities like the IIMs and IITs to students in Tier 2 to Tier 4 cities. Secondly, the government aims to increase the higher education gross enrolment ratio from 28 per cent to 50 per cent by 2035, which can be facilitated through online education. Additionally, the government plans to establish IITs and IIMs in major cities to improve access to quality education. These institutes will receive government support for the first 5 years, after which they must sustain themselves, with online education emerging as the most profitable avenue for generating revenue.

“NEP 2020 and the post-Covid era mark a pivotal moment in the history of higher education in India. With the rapid adoption of online learning and the implementation of innovative policies, we are witnessing a transformational shift towards digital education. The approvals taken by universities for their online postgraduate degrees from UGC have recently increased due to the growing demand among students, and Jaro Education has been quick to respond, witnessing an increase in approvals from universities and a rise in admissions for its online postgraduate degrees,” says Sanjay Salunkhe, CMD of Jaro Education, who started the company in 2009. Salunkhe highlights Jaro Education’s position as a trusted provider of quality education, with a strong and growing number of Tier-1 university partners and a market-leading position in India. Jaro Education boasts on-campus high-tech studios and 22 office classrooms, having added 91 new programmes with existing partners since the beginning of its relationship with them.

Jaro Education has become a dependable partner to 32 renowned institutions, including IIMs, IITs, leading B-Schools, and universities in India, ranking among the top 100 institutions for their respective streams by the National Institutional Ranking Framework (NIRF). Some notable partners include Symbiosis, Amity, Manipal University, and DY Patil University. Globally, they have partnered with Wharton, MIT Sloan, and universities in Australia and Canada, among others.

With a pan-India presence of over 22 offices-cum-classrooms in major cities and 15 on-campus immersive tech studios at various IIMs such as IIM Ahmedabad, IIM Trichy, IIM Kozhikode, IIM Nagpur, and IIM Vishakhapatnam, Jaro Education caters to a total of 32 partner institutions. The roster includes 6 IITs, 7 IIMs, and premier universities in India and internationally, 22 of which are ranked among the top 100 institutions for their respective streams by NIRF.

More than 350,000 student enrolments have taken place over Jaro Education’s 15-year journey, delivering over 250 programmes. Historically, the company had a strong presence in the western region but has since expanded across India, with 13 offices in the western region, 6 in the northern, 8 in the southern, and 2 in the eastern region.

In FY24, Jaro Education has approximately 28,000 students enrolled in graduate and postgraduate degrees in management, finance, business analytics, and certification programmes. It has evolved from humble beginnings to become a powerhouse in the online education sector, boasting net revenues of R203 crore in FY24, a 61 per cent year-on-year growth, driven by an increase in partnerships with Tier I institutions in India and overseas, as well as geographic expansion, increased student enrolments, more programmes per institute, and fee hikes. This has resulted in an operating profit (EBIDTA) of R61 crore, with a PAT of R41 crore.

Strong brand foundation

“We have been entirely bootstrapped and profitable since inception, driven by our goal to enable universities to expand their addressable markets while providing rich educational engagement, experiences, and outcomes to students. We have leveraged a strong brand foundation, emphasised the correlation between reputable brands and quality education, prioritised partnerships with top-tier brands from the outset, and implemented well-planned resource allocation strategies for growth. Presently, 80 per cent of the company’s revenue stems from online degrees, with the remainder derived from certification and upskilling programmes. This revenue mix is expected to persist over the next 3 years,” says Ranjita Raman, CEO of Jaro Education.

The company offers comprehensive solutions for students and professionals, including C-Suite personnel, across domains and industry verticals. “At least 50 per cent of our learners have more than 2 years of work experience, and 23 per cent have more than 5 years of work experience. Our university relationships are characterised by close, ongoing collaboration with faculty and administration, as well as a deep integration between our universities’ academic missions and operations, and our technology and services. These factors have led us to become one of the most preferred and largest distribution channels for partner institutions in the online higher education and upskilling space, and to develop strong and lasting collaborations with them,” explains Salunkhe, who is also exploring partnerships with overseas institutions.

“With our global scope and insights into the online MBA and certification programme space, we seek to facilitate the expansion of our partner institutions’ services, offerings, and brand presence. In certain instances, we have leveraged our existing relationships to provide faculty members to partner institutions, as well as creating collaborations between premier universities in India and global universities,” adds Salunkhe, aiming to nurture talent, cultivate meaningful partnerships, and catalyse positive change in the dynamic higher education arena. 

“We believe our approach to identifying potential growth opportunities enables us to systematically identify degrees at universities that we believe have the highest probability of success. We utilise data-driven marketing strategies to improve marketing effectiveness, test marketing sources, and enhance the enrolment experience for our students. We have entered into engagements with several marketing firms for marketing, branding, and advertising services,” adds Raman.

“We anticipate growth through strategic expansions, including partnering with renowned universities, IIMs, and IITs, augmenting enrolments in existing programmes, introducing new programmes, and extending our reach to Tier 2 to Tier 4 cities. The scalability of this business model is evident: any increase in student numbers, course offerings, revision in fees, or new partnerships leads to revenue and profitability gains,” adds Salunkhe, believing that education is the key to unlocking individual potential and driving societal progress.

“By reaching out to 100 reputed institutes, we aim to democratise access to education and empower learners from all walks of life to pursue their academic and professional aspirations,” he sums up with his ambitious expansion plans, where the company is poised to continue its legacy of transforming lives through education, with Salunkhe’s mission to serve as a catalyst for professional growth, harmonising the realms of industry and academia 

LANCELOT JOSEPH

lancelot.joseph@businessindiagroup.com