Core Projects FY11 Revenue up 29% to Rs. 1091 Crores

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Sanjeev Mansotra says our Indian story has got tremendous growth and will achieve similar growth in the coming quarters.

CORE Projects & Technologies Ltd. a leading global player in delivering and managing Education Solutions recorded consolidated revenues of Rs. 1091 crores for the year ended March 31, 2011, and Rs. 298 crs for the last quarter of FY11. On a YoY basis, the consolidated quarterly revenue grew by 24%, whereas the corresponding figure for the full year FY11 grew by 29%.

EBIDTA (consolidated) for the year ended 31st March, 2011 stood at Rs. 409 crores (corresponding to Rs. 291 crores in the previous year), an increase of 41%. The company’s Net Profit for FY11 shot up to Rs. 225 crores showing an increase of 31% over the previous year.

The basic consolidated EPS (Earnings Per Share) for FY11 stood at Rs. 21.79, up from Rs. 18.71 for the last fiscal year.

Commenting on the results, Mr. Sanjeev Mansotra, Global CEO and Chairman, Core Group said, “FY11 has been a landmark year for CORE. Our India business has gained significant traction and we currently have a strong global order book of Rs. 1100 crores with India constituting about Rs. 600 crores. Apart from establishing a customer base of more than 9000 schools in the Government ICT space in India in a very short time span, we have also made important forays in the Vocational business. Path breaking pilots with prestigious institutes like Navodaya Vidyalaya and Kendriya Vidyalaya, for implementing an integrated quality improvement program, coupled with forays into new geographies will fuel future growth. With these developments in the company, we are extremely confident of keeping up the momentum and achieving similar growth in the coming quarters.”

Some recent key developments at Core Projects Limited

  •     CORE acquired US$ 35 million UK based education firm
  •     Bagged the biggest ICT project in India with Haryana Government worth Rs. 2950 million.
  •     CORE won an order to implement CAL-Computer Aided Learning- across 645 schools in Gujarat. Valued at about Rs. 263.80 million.
  •     CORE Projects has signed a MOU with Gujarat Knowledge Society (GKS), to impart job-oriented skill up-gradation courses to students from various disciplines in colleges across Ahmedabad and Surat districts.

About CORE Projects & Technologies Ltd

CORE Projects & Technologies Limited is an Indian multinational in the education space with operations in the US, the UK, the Caribbean, Africa and India. Core Projects is first generation entrepreneurial venture by Sanjeev Mansotra which provides integrated products, solutions and service provider in education. Under Sanjeev Mansotra as Global CEO and Chairman of CORE Group has created a dominant place for itself in the education space in International and Indian Markets. Core's offerings cover compliance, assessment, ICT, content, teacher training, vocational training, examination management system, language skills and has globally impacted more than 76,000 schools, 28 million students and trained over 100,000 teachers. Nine state Governments in India, nineteen state Governments in USA, over 40 Local Educational Authorities in UK and eight African countries work with CORE Projects for education projects and consultancy services. More information about CORE Projects & Technologies can be found at http://www.coreprojectstech.com

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Ram Uppara
Concept Public Relations
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