BYJU’S, India’s leading EdTech app is expected to clock Rs 10, 000 crore revenue this year. Byju Raveendran, CEO and Founder of BYJU’S, made this statement in a recent interview with Business Today.
BYJU’s grew its revenue from operations by 82.31% (from Rs 1,306 crore in FY 19 to Rs 2,381 crore in FY 20).
BYJU’s invested nearly Rs 1,130 crore on infrastructure in FY 20 and remains miles ahead of its competitors in the Indian Edtech space both in terms of revenue and cash reserves.
“Let me under-promise and over-deliver”– Byju Raveendran
BYJU’S Revenue in the Past, Present and Future.
The EdTech platform has experienced a huge growth in its annual paid subscription userbase since the outbreak of the pandemic. BYJU’S has over 64+ million app downloads thus far, and it is used by students across 1700+ cities worldwide.
BYJU’S reported a revenue of Rs 2, 434 cr. for the year 2019-20, which was 81 percent more than the previous year. It reported a net profit of Rs 51 cr. in the same year. In FY 19 BYJU’S earnings from foreign currencies was Rs 168 crore and Rs 306 cr. in FY 20.
The company is expected to easily make Rs 10, 000 crore revenue in 2021 and the topline profits are expected to be 20 to 30% (Rs 2000 to 3000 cr.) after investing in all the new businesses.
BYJU’S has made its entry into several EdTech segments including test –prep platform by acquiring Aakash for $1 billion and upskilling platform by acquiring Great Learning for $600 million. These acquisitions will add to their revenue next year. BYJU’S has also acquired WhiteHat Jr for $300 million, Osmo for $120 million and US-based digital reading platform Epic for $500 million.
BYJU’S is hoping to scale up its CAGR to 50-60% in three years, which could turn out to be another billion-dollars in revenue.
Byju’s, which at $16.5 billion is India’s most valued startup, earned almost three times more from sale of tablets and SD cards than from sale of reference books. It sold devices worth Rs 1,676 crore and books worth Rs 561 crore in FY20.
However, BYJU’S core business growth may slow down to 75% in the coming year and grow over 100% over the next 2-3 years as the company is expanding fast in the US market. BYJU’s is already the world’s most-valued EdTech company in the world, but Byju Raveendran says this is just the beginning.
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