Ansal API has tied up with e-learning service provider Educomp Solutions to build schools in townships being developed by the realty major, emulating a model that has already become popular in some other parts of world.
Ansal will build the schools and Educomp will manage them, a top official at Educomp said.
“The tie-up is in keeping with our policy of foraying into formal school management," Shantanu Prakash, Managing Director, Educomp Solutions told Hindustan Times.
New Delhi-based Educomp plans to build 150 schools -- brand named Millennium Schools -- over the next three to four years. The first two of these will come by end of this year, at Mohali and Noida. Prakash said the company plans to ramp up to 20 schools by June next year. Under the collaboration with Ansal, Educomp aims to set up at least 14 to 15 schools, with each involving an investment of Rs 10-12 crore, he said.
Prakash said his company was also looking to replicate its parnership with Ansal. “We are open to tying up with other developers as well and set up schools in their townships.”
This is not the first time Ansal is foraying into education. It already runs the prestigious Sushant School of Architecture, the Ansal Institute of Technology as well as two schools in Gurgaon. But the tie-up with Educomp marks a major push into the education sector.
“It is a natural progression for a developer to foray into related sectors like education, as schools form an integral part of a township,” said Pranav Ansal, managaing director at the construction company.
Although Ansal could be the first in India to venture into such business, several real estate companies overseas have had success with this model.
Dubai-based Emaar Properties acquired Singapore-based education chain Raffles Campus and then expanded its business to set up centres in Vietnam, Indonesia, China, Middle East, North Africa and UAE.