Business India ×

Published on: June 9, 2024, 3:47 p.m.
Jaro Education’s revolution in online education
  • Salunkkhe: bridging the gap between industry demands and academic offerings

By Lancelot Joseph. Executive Editor, Business India

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 one in this space in this educational revolution. And, recently the University Grants Commission (UGC) has announced that online degrees will be at par with offline degrees and allowed students to pursue further higher studies, this has gone a long way with online learner’s and the demand has soured post Covid as the online learning was highlighted. 

In fact, the Indian government is promoting online education for two key reasons. Firstly, it aims to democratize access to quality education by providing online programs from renowned universities like IIMs and IITs to students in Tier 2 to Tier 4 cities. Secondly, the government aims to increase the higher education gross enrollment ratio from 28 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 five 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 degree from UGC have recently increased in account of increase demand among the 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, committed to bridging the gap between industry demands and academic offerings.

“Thus yielded outcomes and solidifying the company’s position as a trusted provider of quality education, as the company has emerged as a leader in the online higher education and certification programs space, driving positive change and empowering learners across India and beyond”, Salunkhe adds showcasing the strength of Jaro Education’s relationship with its partner institutions which is evident by a strong, growing number of Tier-1 university partners and market-leading position in India and pan-India presence with on-campus high tech studios and 22 offices classrooms. It has added 91 new programs with existing partners since the beginning of its relationship with them.

Jaro Education has become a dependable partner to 32 renowned institutions like IIMs, IITs, leading B-Schools and Universities in India and has been ranked amongst top 100 institutions for the respective stream by National Institute Ranking Framework (NIRF). To name some of the institutions are like Symbiosis, Amity, Manipal University, D Y Patil University among others.   Globally, they have partnered with Wharton, MIT Sloan and universities in Australia, Canada among and many others.

With a pan-India presence of over 22 offices cum classrooms in major cities, apart from 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 of Partner Institutions include 6 IITs,7 IIMs and premier universities in India and internationally, out of which 22 institutions have been ranked amongst top 100 institutions for the respective stream by National Institute Ranking Framework (NIRF). 

  • We have entered into engagements with several marketing firms for marketing, branding, and advertising services

    Ranjita Raman, CEO, Jaro Education

More than 3,50,000 student enrolments have taken place so far in their journey of 15 years institutions in India and worldwide, currently delivering 250 plus programs and has provided online education. Historically, it has had a strong presence in the western region but has then spread across India with 13 in the western region, 6 in the northern, 8 in southern region and 2 in the eastern region.

In FY24, it has approximately 28,000 plus students for graduate and postgraduate degrees in management, finance, business analytics certification among others. It has evolved from humble beginnings to become a powerhouse in online education sector, boasting a net revenues of Rs203 crore in FY24, grown by 61 per cent on year on year basis, driven by an increase in partnerships with Tier I institutions, in India and overseas, as well as geographic expansion, increase in student enrolments, more programs per institute and fee hikes. With this the operating profit (EBIDTA) works out to Rs61 crore, the PAT is Rs 41 crore.

“We are entirely bootstrapped still profitable institution since inception, driven by its goal to enable universities expand their addressable markets while providing rich educational engagement, experiences and outcomes to students. We have leveraged a strong brand foundation, emphasised the co-relation between reputable brands and quality education, prioritized 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 programs. This revenue mix is expected to persist over the next three years”, says Ranjita Raman, CEO, Jaro Education.

The company offers comprehensive solutions for students as well as professionals all the way up to C-Suite personnel, across domains and industry verticals. “At least 50 per cent of our learners have more than two years of work experience, and 23 per cent of our learners have more than five years of work experience. Our university relationships are characterized 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 channel for partner institutions in the online higher education and up- skilling space, and to develop strong and lasting collaborations with them,” explains Salunkhe who is looking at overseas partners too.

“With our global scope and insights into the online MBA and certification programmes space, we seek to facilitate expansion of the outreach of our partner institutions’ services, offerings and brand presence. In certain instances, we have also 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 catalyze positive change in the dynamic higher education arena.

  • 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 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 utilize data-driven marketing strategies to improve marketing effectiveness, test marketing sources, and enhance the enrollment 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 enrollments in existing programs, introducing new programs, and extending its 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 democratize 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, harmonizing the realms of industry and academia.

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