BYJU’S registers accelerated growth in FY 22, clocking gross revenues of nearly Rs. 10,000 crore
- K-12 business grew more than 150% in FY 22
- Group companies Aakash and Great Learning have doubled their revenues since acquisition
- BYJU’S receives unqualified report for FY 21 from Deloitte, putting rest to all speculation
National, 14th September 2022: BYJU’S, India’s largest ed-tech company, has registered nearly Rs. 10,000 crore in gross revenues in FY 22 and its K-12 education business is showing accelerated growth. Between April – July 2022, the company logged a revenue of Rs. 4530 crore.
BYJU’S has received an unqualified report for FY21 from its auditor, Deloitte Haskins & Sells. The revenue for FY 21 of the BYJU’S group is Rs. 2,428 crore. There was significant business growth in FY 21 over FY 20, but since this is the first year where new revenue recognition started because of a COVID related business model change, almost 40% of the revenue was deferred to subsequent years. The rationalized growth between FY 21 and FY 20 is a result of the changes made in the way BYJU’S recognizes its revenue, as advised by its auditors.
As the world’s leading edtech company, BYJU’S has been at the forefront of changing learning needs. Recognising tutoring and live classes as the need of the hour, BYJU’S launched its hybrid learning offering BYJU’S Tuition Centre which brings the best of online and offline learning to students. Today, there are 200+ active centres across India and the company aims to scale it up to 500 centres by the end of this year.
The BYJU’S group is well-diversified across delivery modes (learning app, live online learning and hybrid learning), learning spectrum (from early learn to higher education) as well as geographies (more than a quarter of its revenue now comes from outside India). With this, the group has become a leading full spectrum education player in the world.
BYJU’S acquisitions across segments over the last year have seen substantial growth. Aakash in the test prep segment and Great Learning in the higher education segment have doubled their revenues since acquisition. Osmo and Epic! are scaling up rapidly in North America, in terms of both adoption and engagement. Tynker has grown to be the largest coding community for children, globally.
The company continues to be a net hirer with a 50,000+ strong employee base globally. BYJU’S plans to hire a total of 10,000 more teachers in the coming year, adding to its current strength of 20,000 teachers. To fuel its growth, the company is expanding its teams along with hiring senior leadership to effectively further build operational strength.
Along with the revenue growth and significant momentum, BYJU’S continues to enjoy an industry best NPS of 70 and has an annual retention renewal rate of 80%. BYJU’S has 150+ million learners accessing its products and services in 120+ countries.
About BYJU’S:
BYJU’S is the world’s leading edtech company offering highly adaptive, immersive, engaging, and effective learning programs for students in K-12, along with offerings in competitive exam prep, coding, and professional upskilling. With over 150 million registered learners globally and a presence in 120 countries, BYJU’S portfolio of tech-driven and innovative products meets learning requirements across grades, levels, and geographies. In this journey, BYJU’S has onboarded strong domestic and global partners through strategic acquisitions of Osmo, EPiC, Tynker, White Hat Jr, Aakash, Great Learning, Gradeup, and GeoGebra.
A digital-first company, BYJU’S has been backed by prominent investors like Chan-Zuckerberg Initiative, Naspers, CPPIB, General Atlantic, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, TimesInternet, Lightspeed Ventures, Tiger Global, Owl Ventures & Qatar Investment Authority. BYJU’S is the official sponsor of the Indian Cricket Team, and In 2022, it also became the first edtech company to be an official sponsor of the FIFA World Cup.
With the aim to democratize education and break socio-economic barriers to learning, BYJU’S launched its social impact initiative Education for All in 2020. Within a year of launch, the initiative positively impacted 3.4 million children across 26 states and 340+ districts by making tech-driven education accessible and equitable. By 2025, the initiative aims to impact 10 million children.
For more information, write to : pr@byjus.com
