EdTechReview.in: Physics Wallah is one of India’s leading online educational technology platforms, and has recently announced that it is scaling up its offline centres. This growth is attributed to the enrolment of learners and the revenue generation associated with it. Physics Wallah co-founder Prateek Maheshwari has revealed that they intend to invest INR 150 crore by 2025 to expand their offline businesses, Vidyapeeths and Paathshalas.
The company began in 2016 as a YouTube channel to coach JEE/NEET aspirants but has since then grown to offer online courses, offline and hybrid coaching, and teacher training programs. It now has a student base of 135,000, estimated to reach 250,000 by the end of FY24.
Ankit Gupta, Chief Executive Officer of PW Offline, stated that the company is operational in 38 cities through the Vidyapeeth business and has Paathshala business in the hybrid model in 16 cities; this will be expanded to 26 more cities via Vidyapeeth and 39 more cities with Paathshalas, thus taking its presence to 119 cities across India.
Prateek Maheshwari also revealed that the company has allocated ₹150 crore for the expansion of offline centres, and they may increase this allocation. He further added that their offline business is empowered with their online technology and online touch points. Similarly, online, they have also introduced many offline touch points.
The company recorded ₹780 crore in revenue for FY22-23 and is targetting a total revenue of ₹2,400 crore at the group level, with PW business contributing ₹1,900 crore and the remaining from its inorganic expansion. For FY24, they expect to see 100% growth in online learners and 150% in offline learners.
Physics Wallah also offers post-graduate programs and PW Skills, focusing on career development and upskilling. Students can choose from a variety of online courses, both free and paid, in nine different languages, including Hindi, English, Bengali, Marathi, Telugu, and Gujarati.
The platform has over 25 million subscribers across 53 YouTube accounts and despite the challenges faced by EdTech companies, PW stands out as one of the profitable unicorns. It became India’s 101st unicorn in June 2022 after raising $100 million in its first round of funding from WestBridge Capital and GSV Ventures at a $1.1 billion valuation.
The offline centres contribute nearly 40 per cent of the overall revenue, and the company projects that 45 per cent of the revenue would be from offline expansion by FY25. For teachers who want to join the offline centres, PW has a dedicated faculty training centre where they can attend a three-month course to master the skills.
Physics Wallah is a great example of how EdTech companies can use the latest technology to provide quality education and ensure an all-round learning experience. It is a testament to the success of educational technology platforms and how they are transforming the education sector in India.
